{short description of image}  


Casey B. Mulligan


Subtitle: How Labor Market Distortions Contracted the Economy - Oxford Univ. Press, NYC., 2012, Bibliography, end notes, tables, graphs


Reviewer Comment:
The author is a card carrying member of the professional academic economist fraternity. Consequently it is incumbent on him, actually required, that he use all the tools of the modern economist such as models, econometrics, algorithms, theories, assumptions and the like. The result in this book is that he reaches the same conclusions much of the public reached by virtue of common sense. But without showing that he used all the tools and trappings he would not stand much chance of having his book read let alone cited by other members of the economicsts fraternity (cult).


Preface -
The author states his purpose and claims that understanding his results requires 'only a few relatively simple economic concepts, and they point to the potential for important contributions to recession economics from fields as diverse as poverty analysis, law, political science, labor and macroeconomics." He writes that the book was written for social scientists.


Chapter 1 - Introduction


Chapter 2 - The Rise of Labor Productivity


Chapter 3 - The Expanding Social Safety Net


Chapter 4 - Supply and Demand; Labor Market Consequences of Safety Net Expansion


Chapter 5 - Means-Tested Subsidies and Economic Dynamics Since 2007


Chapter 6 - Cross-Sectional Patterns of Employment and Hours Changes


Chapter 7 - Keynesian and Other Models of Safety Net Stimulus


Chapter 8 - Recession - Era Effects of Factor Supply and Demand.


Chapter 9 - Incentives and Compliance Under the Federal Mortgage Modification Guidelines


Chapter 10 - Uncertainty, Redistribution, and the labor Market


Chapter 11 - Conclusions


Return to Xenophon.