...This chapter considers subjective well-being at work—both perceived security and job satisfaction. Recent changes in U.S. economic organization have made employment more precarious. Jobs are viewed as less secure than in past decades, after adjusting for cyclical variations in unemployment...

...This chapter examines the fiscal and monetary achievements of the period between 1948 and 1967. These two decades were without panic, crisis, depression or more than minor recession. It was during these years that the term “Gross National Product” (GNP) was coined for the first time. Unemployment...

..., and how the distinction between microeconomics and macroeconomics will blur and disappear due to factors such as the dynamic of prices and wages as a determinant of both inflation and unemployment. Finally, it comments on the future of domestic monetary and fiscal policy in relation to a nation's...

...This chapter focuses on the accuracy of citizens' estimates of facts about the general state of the economy and on the consequences of that information. It analyzes both the determinants and political consequences of respondents' perceptions of the average price of gas and the unemployment rate...

...Table 4.1. Unemployment Rates, 1870–1913: Two Variants and the Board of Trade Index Year Excluding Short Time Including Short Time Board of Trade 1870 4.4 4.6 3.7 1871 3.1 3.6 1.6 1872 2.1 2.3 0.9 1873 2.3 2.5 1.1 1874...

...This chapter describes the interwar expansion of social welfare policies and their role in alleviating economic insecurity in an era of unprecedented unemployment. The social security system established before the war and extended in the 1920s consisted of several independently administered...

...This chapter focuses on the Social Security Act and the disparate treatment of blacks, Mexicans, and European immigrants in the administration of Social Security, Unemployment Insurance, Aid to Dependent Children, and Old Age Assistance. Though framed as legislation that would help the “average...

...This chapter considers work and unemployment. Full-time workers spend at least a quarter of their waking life at work. But on average, they enjoy that time less than anything else they do. The worst time of all is when they are with their boss. Even so, people hate it even more...

.... ALSPAC provides clear unemployment data only on the fathers of the children and shows that this can have a critical effect on children's development. There are many channels through which this can work—via the parents' mood, family conflict, reduced aspirations, taunting at school, and simple loss...

... will be fulfilled and therefore about the starting point for the next generation. The chapter then explores the implications of growing labor market inequality and precarious work for the economic incorporation of immigrants, including rates of labor force participation, unemployment, and risks of poverty...

... such as the causes of inflation and its relation to unemployment and growth, the natural rate of inflation hypothesis, the fiscal theory of the price level, and the proper goals of central banks, the book aims above all to demonstrate the dangers of forgetting the role of credibility in establishing sound monetary...

...Millions of workers today labor in nontraditional situations involving part-time work, temporary agency employment, and skills underutilization or face the precariousness of long-term unemployment. To date, research has largely focused on how these experiences shape workers' well-being, rather than...

... standard of the workers and those of the employers or capitalists, the unequal distribution of power inherent in the system, and the phenomenon referred to as a panic, crisis, depression or recession, with its associated unemployment and general despair. The chapter considers how the classical tradition...

... that the depression must be allowed to run its course. The chapter first considers U.S. economic policy under Franklin D. Roosevelt, focusing on how he addressed three visible features of the depression: deflation in prices, unemployment, and the hardship depression suffered by especially vulnerable groups. It also...

...This chapter examines the economic ideas of John Maynard Keynes. According to Keynes, the modern economy does not necessarily find its equilibrium at full employment; it can find it with unemployment. This is the underemployment equilibrium, in which Say's Law no longer holds; there can...

...” such as unemployment and poor health; the negative impact of these shocks on households depends “on the surrounding institutions that regulate risk.” Indeed, the extent to which workers suffered financial distress from income shocks depended in large part on the social safety net—the existing institutions of public...

... was exhausted by spells of unemployment or sickness lasting more than a few weeks. As a result, many households continued to apply for poor relief during downturns, and urban Poor Law unions continued to provide outdoor relief to the unemployed despite pressure not to from the central administration. Unions...

..., employment increased more rapidly than the labor force. As a result, unemployment declined steadily and prices were held stable. The chapter considers four serious flaws of the New Economics. The first was the reliance on prediction and foresight—on taking action before need. The three other flaws all...

...This chapter considers how economic crises led to the breakthrough of transatlantic neoliberal politics in the 1970s. As Great Britain and the United States experienced stagflation—the combination of high unemployment, high inflation, and low or no growth—political leaders and policymakers cast...

...This chapter examines indeterminacies in wage and asset price expectations. It first considers what it argues are fatal flaws in Keynesian economics, comparing crude Keynesianism with a crude natural rate of unemployment. It then introduces a structuralist model of employment and economic growth...