A SCHOLARLY BOOK REPOSITORY
Understanding wealth in the United States—who has it, how they acquired it, and how they preserve it—is crucial to addressing the economic and political challenges facing the nation. But until now we have had little reliable information. Edward Wolff, one of the world’s great experts on the economics of wealth, offers an authoritative account of patterns in the accumulation and distribution of wealth since 1900.
A Century of Wealth in America demonstrates that the most remarkable change has been the growth of per capita household wealth, which climbed almost eightfold prior to the 2007 recession. But overlaid on this base rate are worrying trends. The share of personal wealth claimed by the richest one percent almost doubled between the mid-1970s and 2013, concurrent with a steep run-up of debt in the middle class. As the wealth of the average family dropped precipitously—by 44 percent—between 2007 and 2013, with black families hit hardest, the debt-income ratio more than doubled. The Great Recession also caused a sharp spike in asset poverty, as more and more families barely survived from one paycheck to the next. In short, the United States has changed from being one of the most economically equal of the advanced industrialized countries to being one of the most unequal.
At a time of deep uncertainty about the future, A Century of Wealth in America provides a sober bedrock of facts and astute analysis. It will become one of the few indispensable resources for contemporary public debate.
Finding a job used to be simple. Now . . . well, it’s complicated. In today’s economy, you can’t just be an employee looking to get hired—you have to market yourself as a business, one that can help another business achieve its goals.
That’s a radical transformation in how we think about work and employment, says Ilana Gershon. And with Down and Out in the New Economy, she digs deep into that change and what it means, not just for job seekers, but for businesses and our very culture. In telling this story, Gershon covers all parts of the employment spectrum: she interviews hiring managers about how they assess candidates; attends personal branding seminars; talks with managers at companies around the United States to suss out regional differences—like how Silicon Valley firms look askance at the lengthier employment tenures of applicants from the Midwest. And she finds that not everything has changed: though the technological trappings may be glitzier, in a lot of cases, who you know remains more important than what you know.
Rich in the voices of people deeply involved with all parts of the employment process, Down and Out in the New Economy offers a snapshot of the quest for work today—and a pointed analysis of its larger meaning.
The underappreciated but surprisingly successful implementation of the American Recovery and Reinvestment Act (ARRA) helped rescue the economy during the Great Recession and represented one of the most important achievements of the Obama presidency. It tested all levels of government with urgent time frames and extensive accountability requirements. While ARRA passed most tests with comparatively little mismanagement or fraud, negative public and media perceptions of the initiative deprived the president of political credit.
Drawing on more than two hundred interviews and nationwide field research, Governing under Stress examines a range of ARRA stimulus programs to analyze the fraught politics, complex implementation, and impact of the legislation. Essays from public administration scholars use ARRA to study how to implement large federal programs in our modern era of indirect, networked governance. Throughout, the contributors present potent insights into the most pressing challenges facing public policy and management, and they uncover important lessons about policy instruments and networks, the effects of transparency and accountability, and the successes and failures of different types of government intervention.
Barack Obama’s galvanizing victory in 2008, coming amid the greatest economic crisis since the 1930s, opened the door to major reforms. But the president quickly faced skepticism from supporters and fierce opposition from Republicans, who scored sweeping wins in the 2010 midterm election. Here, noted political scientist Theda Skocpol surveys the political landscape and explores its most consequential questions: What happened to Obama’s “new New Deal”? Why have his achievements enraged opponents more than they have satisfied supporters? How has the Tea Party’s ascendance reshaped American politics?
Skocpol’s compelling account rises above conventional wisdom and overwrought rhetoric. The Obama administration’s response to the recession produced bold initiatives—health care reform, changes in college loans, financial regulation—that promise security and opportunity. But these reforms are complex and will take years to implement. Potential beneficiaries do not readily understand them, yet the reforms alarm powerful interests and political enemies, creating the volatile mix of confusion and fear from which Tea Party forces erupted. Skocpol dissects the popular and elite components of the Tea Party reaction that has boosted the Republican Party while pushing it far to the right at a critical juncture for U.S. politics and governance.
Skocpol’s analysis is accompanied by contributions from two fellow scholars and a former congressman. At this moment of economic uncertainty and extreme polarization, as voters prepare to render another verdict on Obama’s historic presidency, Skocpol and her respondents help us to understand its triumphs and setbacks and see where we might be headed next.
Barack Obama’s political ascendancy has focused considerable global attention on the history of Kenya generally and the history of the Luo community particularly. From politicos populating the blogosphere and bookshelves in the U.S and Kenya, to tourists traipsing through Obama’s ancestral home, a variety of groups have mobilized new readings of Kenya’s past in service of their own ends.
Through narratives placing Obama into a simplified, sweeping narrative of anticolonial barbarism and postcolonial “tribal” violence, the story of the United States president’s nuanced relationship to Kenya has been lost amid stereotypical portrayals of Africa. At the same time, Kenyan state officials have aimed to weave Obama into the contested narrative of Kenyan nationhood.
Matthew Carotenuto and Katherine Luongo argue that efforts to cast Obama as a “son of the soil” of the Lake Victoria basin invite insights into the politicized uses of Kenya’s past. Ideal for classroom use and directed at a general readership interested in global affairs, Obama and Kenya offers an important counterpoint to the many popular but inaccurate texts about Kenya’s history and Obama’s place in it as well as focused, thematic analyses of contemporary debates about ethnic politics, “tribal” identities, postcolonial governance, and U.S. African relations.
Barack Obama’s presidential victory naturally led people to believe that the United States might finally be moving into a post-racial era. Obama’s Race—and its eye-opening account of the role played by race in the election—paints a dramatically different picture.
The authors argue that the 2008 election was more polarized by racial attitudes than any other presidential election on record—and perhaps more significantly, that there were two sides to this racialization: resentful opposition to and racially liberal support for Obama. As Obama’s campaign was given a boost in the primaries from racial liberals that extended well beyond that usually offered to ideologically similar white candidates, Hillary Clinton lost much of her longstanding support and instead became the preferred candidate of Democratic racial conservatives. Time and again, voters’ racial predispositions trumped their ideological preferences as John McCain—seldom described as conservative in matters of race—became the darling of racial conservatives from both parties. Hard-hitting and sure to be controversial, Obama’s Race will be both praised and criticized—but certainly not ignored.
Bearing traces of Baruch Spinoza, John Dewey, and Saul Alinsky, Obama’s progressivism embraces the ideas of mutual reliance and collective responsibility, and adopts an interconnected view of the individual and the state. So, while Obama might emphasize difference, he rejects identity politics, which can create permanent minorities and diminish individual agency. Analyzing Obama’s major legislative victories—financial regulation, health care, and the stimulus package—O’Brien shows how they reflect a stakeholder society that neither regulates in the manner of the New Deal nor deregulates. Instead, Obama focuses on negotiated rule making and allows executive branch agencies to fill in the details when dealing with a deadlocked Congress. Similarly, his commitment to difference and his resistance to universal mandates underlies his reluctance to advocate for human rights as much as many on the Democratic left had hoped.
Michael Tesler shows how, in the years that followed the 2008 election—a presidential election more polarized by racial attitudes than any other in modern times—racial considerations have come increasingly to influence many aspects of political decision making. These range from people’s evaluations of prominent politicians and the parties to issues seemingly unrelated to race like assessments of public policy or objective economic conditions. Some people even displayed more positive feelings toward Obama’s dog, Bo, when they were told he belonged to Ted Kennedy. More broadly, Tesler argues that the rapidly intensifying influence of race in American politics is driving the polarizing partisan divide and the vitriolic atmosphere that has come to characterize American politics.
One of the most important books on American racial politics in recent years, Post-Racial or Most-Racial? is required reading for anyone wishing to understand what has happened in the United States during Obama’s presidency and how it might shape the country long after he leaves office.
Democracy is, by its very nature, often rude. But there are limits to how uncivil we should be. In her timely and important book, Rude Democracy, Susan Herbst explores the ways we discuss public policy, how we treat each other as we do, and how we can create a more civil national culture.
Herbst uses the examples of Sarah Palin and Barack Obama to illustrate her case. She scrutinizes Palin as both victim and perpetrator of incivility, including close analysis of her speeches on the 2008 campaign trail, the tone at her rallies, and her interactions with her audience. Turning to Barack Obama, Herbst argues that a key 2009 speech reveals much about his own perspective on American civility as it pertains to contentious issues such as abortion, and notes, too, what the controversy surrounding the speech reveals about the nature of public opinion in the United States. She also dissects Palin’s and Obama’s roles in the 2009 health care debate. Finally, in a fascinating chapter, Herbst examines how young people come to form their own attitudes about civility and political argument.
In Rude Democracy, Susan Herbst insists that Americans need to recognize the bad tendencies and habits we have developed, use new media for more effective debate, and develop a tougher and more strategic political skin. She urges us to boost both the intelligence and productivity of our debates, noting that the effort demands a commitment to the nature of argument itself. Rude Democracy outlines a plan for moving forward and creating a more civil climate for American politics.
A fast-paced, behind-closed-doors account of the Federal Reserve’s decision making during the 2008 financial crisis, showing how Fed policymakers overcame their own assumptions to contain the disaster.
The financial crisis of 2008 led to the collapse of several major banks and thrust the US economy into the deepest recession since the Great Depression. The Federal Reserve was the agency most responsible for maintaining the nation’s economic stability. And the Fed’s Open Market Committee was a twelve-member body at the epicenter, making sense of the unfolding crisis and fashioning a response. This is the story of how they failed, learned, and staved off catastrophe.
Drawing on verbatim transcripts of the committee’s closed-door meetings, Mitchel Abolafia puts readers in the room with the Federal Reserve’s senior policymaking group. Abolafia uncovers what the Fed’s policymakers knew before, during, and after the collapse. He explores how their biases and intellectual commitments both helped and hindered as they made sense of the emergency. In an original contribution to the sociology of finance, Stewards of the Market examines the social and cultural factors that shaped the Fed’s response, one marked by missed cues and analytic failures but also by successful improvisations and innovations.
Ideas, traditions, and power all played their roles in the Fed’s handling of the crisis. In particular, Abolafia demonstrates that the Fed’s adherence to conflicting theories of self-correcting markets contributed to the committee’s doubts and decisions. A vivid portrait of the world’s most powerful central bank in a moment of high stakes, Stewards of the Market is rich with insights for the next financial downturn.
In Strategic Party Government, Koger and Lebo argue that Congress is now primarily a forum for partisan competition. In order to avoid losing, legislators unite behind strong party leaders, even when they do not fully agree with the policies their party is advocating. They do so in the belief that party leaders and voters will reward them for winning—or at least trying to win—these legislative contests. And as the parties present increasingly united fronts, partisan competition intensifies and pressure continues to mount for a strong party-building strategy—despite considerable disagreement within the parties.
By bringing this powerful but underappreciated force in American politics to the forefront, Koger and Lebo provide a new interpretation of the problems facing Congress that is certain to reset the agenda for legislative studies.
Since the end of World War II, runaway fears of Soviet imperialism, global terrorism, and anarchy have tended to drive American foreign policy toward an imperial agenda. At the same time, uncurbed appetites have wasted the environment and driven the country’s market economy into the ditch. How can we best sustain our identity as a people and resist the distortions of our current anxieties and appetites?
Ethicist William F. May draws on America’s religious and political history and examines two concepts at play in the founding of the country—contractual and covenantal. He contends that the biblical idea of a covenant offers a more promising way than the language of contract, grounded in self-interest alone, to contain our runaway anxieties and appetites. A covenantal sensibility affirms, “We the people (not simply, We the individuals, or We the interest groups) of the United States.” It presupposes a history of mutual giving and receiving and of bearing with one another that undergirds all the traffic in buying and selling, arguing and negotiating, that obtain in the rough terrain of politics. May closes with an account of the covenantal agenda ahead, and concludes with the vexing issue of immigrants and undocumented workers that has singularly tested the covenant of this immigrant nation.
A Financial Times Book of the Year
“The strongest documentation I have seen for the many ways in which inequality is harmful to economic growth.”
—Jason Furman
“A timely and very useful guide…Boushey assimilates a great deal of recent economic research and argues that it amounts to a paradigm shift.”
—New Yorker
Do we have to choose between equality and prosperity? Decisions made over the past fifty years have created underlying fragilities in our society that make our economy less effective in good times and less resilient to shocks, such as today’s coronavirus pandemic. Many think tackling inequality would require such heavy-handed interference that it would stifle economic growth. But a careful look at the data suggests nothing could be further from the truth—and that reducing inequality is in fact key to delivering future prosperity.
Presenting cutting-edge economics with verve, Heather Boushey shows how rising inequality is a drain on talent, ideas, and innovation, leading to a concentration of capital and a damaging under-investment in schools, infrastructure, and other public goods. We know inequality is fueling social unrest. Boushey shows persuasively that it is also a serious drag on growth.
“In this outstanding book, Heather Boushey…shows that, beyond a point, inequality damages the economy by limiting the quantity and quality of human capital and skills, blocking access to opportunity, underfunding public services, facilitating predatory rent-seeking, weakening aggregate demand, and increasing reliance on unsustainable credit.”
—Martin Wolf, Financial Times
“Think rising levels of inequality are just an inevitable outcome of our market-driven economy? Then you should read Boushey’s well-argued, well-documented explanation of why you’re wrong.”
—David Rotman, MIT Technology Review
It is all too easy to assume that social service programs respond to homelessness, seeking to prevent and understand it. The Value of Homelessness, however, argues that homelessness today is an effect of social services and sciences, which shape not only what counts as such but what will?or ultimately won’t?be done about it.
Through a history of U.S. housing insecurity from the 1930s to the present, Craig Willse traces the emergence and consolidation of a homeless services industry. How to most efficiently allocate resources to control ongoing insecurity has become the goal, he shows, rather than how to eradicate the social, economic, and political bases of housing needs. Drawing on his own years of work in homeless advocacy and activist settings, as well as interviews conducted with program managers, counselors, and staff at homeless services organizations in New York, Los Angeles, San Francisco, and Seattle, Willse provides the first analysis of how housing insecurity becomes organized as a governable social problem.
An unprecedented and powerful historical account of the development of contemporary ideas about homelessness and how to manage homelessness, The Value of Homelessness offers new ways for students and scholars of social work, urban inequality, racial capitalism, and political theory to comprehend the central role of homelessness in governance and economy today.
In Why Washington Won’t Work, Marc J. Hetherington and Thomas J. Rudolph argue that a contemporary crisis of trust—people whose party is out of power have almost no trust in a government run by the other side—has deadlocked Congress. On most issues, party leaders can convince their own party to support their positions. In order to pass legislation, however, they must also create consensus by persuading some portion of the opposing party to trust in their vision for the future. Without trust, consensus fails to develop and compromise does not occur. Up until recently, such trust could still usually be found among the opposition, but not anymore. Political trust, the authors show, is far from a stable characteristic. It’s actually highly variable and contingent on a variety of factors, including whether one’s party is in control, which part of the government one is dealing with, and which policies or events are most salient at the moment.
Political trust increases, for example, when the public is concerned with foreign policy—as in times of war—and it decreases in periods of weak economic performance. Hetherington and Rudolph do offer some suggestions about steps politicians and the public might take to increase political trust. Ultimately, however, they conclude that it is unlikely levels of political trust will significantly increase unless foreign concerns come to dominate and the economy is consistently strong.
READERS
Browse our collection.
PUBLISHERS
See BiblioVault's publisher services.
STUDENT SERVICES
Files for college accessibility offices.
RECENTLY PUBLISHED
UChicago Accessibility Resources
home | accessibility | search | about | contact us
BiblioVault ® 2001 - 2025
The University of Chicago Press