front cover of Macroeconomics Beyond the NAIRU
Macroeconomics Beyond the NAIRU
Servaas Storm and C. W. M. Naastepad
Harvard University Press, 2011

Economists and the governments they advise have based their macroeconomic policies on the idea of a natural rate of unemployment. Government policy that pushes the rate below this point—about 6 percent—is apt to trigger an accelerating rate of inflation that is hard to reverse, or so the argument goes. In this book, Storm and Naastepad make a strong case that this concept is flawed: that a stable non-accelerating inflation rate of unemployment (NAIRU), independent of macroeconomic policy, does not exist. Consequently, government decisions based on the NAIRU are not only misguided but have huge and avoidable social costs, namely, high unemployment and sustained inequality.

Skillfully merging theoretical and empirical analysis, Storm and Naastepad show how the NAIRU’s neglect of labor’s impact on technological change and productivity growth eclipses the many positive contributions that labor and its regulation make to economic performance. When these positive effects are taken into account, the authors contend, a more humane policy becomes feasible, one that would enhance productivity and technological progress while maintaining profits, thus creating conditions for low unemployment and wider equality.

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Making Americans Healthier
Social and Economic Policy as Health Policy
Robert F. Schoeni
Russell Sage Foundation, 2008
The United States spends billions of dollars annually on social and economic policies aimed at improving the lives of its citizens, but the health consequences associated with these policies are rarely considered. In Making Americans Healthier, a group of multidisciplinary experts shows how social and economic policies seemingly unrelated to medical well-being have dramatic consequences for the health of the American people. Most previous research concerning problems with health and healthcare in the United States has focused narrowly on issues of medical care and insurance coverage, but Making Americans Healthier demonstrates the important health consequences that policymakers overlook in traditional cost-benefit evaluations of social policy. The contributors examine six critical policy areas: civil rights, education, income support, employment, welfare, and neighborhood and housing. Among the important findings in this book, David Cutler and Adriana Lleras-Muney document the robust relationship between educational attainment and health, and estimate that the health benefits of education may exceed even the well-documented financial returns of education. Pamela Herd, James House, and Robert Schoeni discover notable health benefits associated with the Supplemental Security Income Program, which provides financial support for elderly and disabled Americans. George Kaplan, Nalini Ranjit, and Sarah Burgard document a large and unanticipated improvement in the health of African-American women following the enactment of civil rights legislation in the 1960s. Making Americans Healthier presents ground-breaking evidence that the health impact of many social policies is substantial. The important findings in this book pave the way for promising new avenues for intervention and convincingly demonstrate that ultimately social and economic policy is health policy. A Volume in the National Poverty Center Series on Poverty and Public Policy
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Making Migration Work
The Future of Labour Migration in the European Union
Edited by Jan Willem Holtslag, Monique Kremer, and Erik Schrijvers
Amsterdam University Press, 2013
Largely because of the European Union’s two-phase expansion in 2004 and 2007, labor migration across the continent has changed significantly in recent years. Notably, the EU’s policy of open borders has enabled a growing stream of workers to leave new member states in search of higher wages. As a result, the nature, scale, and direction of migration flows have changed dramatically. Making Migration Work explores how policy can—and should—address these changes. In the process, this timely volume considers the future trajectory of a phenomenon that has become an increasingly sensitive political issue in many European nations.
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The Making of the New Deal
The Insiders Speak
Katie Louchheim
Harvard University Press, 1983

There has never been a phenomenon in American life to equal the invasion of Washington by the young New Dealers—hundreds of men and women still in their twenties and thirties, brilliant and dedicated, trained in the law, economics, public administration, technology, pouring into public life to do nothing less than restructure American society. They proposed new programs, drafted legislation, staffed the new agencies. They were active in the Administration, the Congress, the courts, the news media. They fanned out all over America to discover the facts, plan ways of easing the pain of their foundering country, and report on the results. Many of them went on to be rich, famous, and powerful, but their early experience in Washington was perhaps the most inspiriting of their lives.

Katie Louchheim was among those who arrived in Washington in the 1930s, and being a keen writer as well as the wife of a member of the SEC, she had a front-row seat for the spectacle of social progress. Now, a half-century later, she has gathered reminiscences from her old friends and colleagues, interviewed others, and woven them together into a lively, informal word-picture of that exciting time. Among the many insiders who recount their views are Alger Hiss, Robert C. Weaver, Paul A. Freund, James H. Rowe, Wilbur J. Cohen, Abe Fortas, David Riesman, and Joseph L. Rauh. This book, a singular and uplifting primary document of an extraordinary period, is destined to appeal across a wide spectrum of readers of American history.

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Managed Care and Monopoly Power
The Antitrust Challenge
Deborah Haas-Wilson
Harvard University Press, 2003

As millions of Americans are aware, health care costs continue to increase rapidly. Much of this increase is due to the development of new life-sustaining drugs and procedures, but part of it is due to the increased monopoly power of physicians, insurance companies, and hospitals, as the health care sector undergoes reorganization and consolidation. There are two tools to limit the growth of monopoly power: government regulation and antitrust policy. In this timely book, Deborah Haas-Wilson argues that enforcement of the antitrust laws is the tool of choice in most cases.

The antitrust laws, when wisely enforced, permit markets to work competitively and therefore efficiently. Competitive markets foster low prices and high quality. Applying antitrust tools wisely, however, is a tricky business, and Haas-Wilson carefully explains how it can be done. Focusing on the economic concepts necessary to the enforcement of the antitrust laws in health care markets, Haas-Wilson provides a useful roadmap for guiding the future of these markets.

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Managing Macroeconomic Policy
The Johnson Presidency
By James E. Anderson and Jared E. Hazleton
University of Texas Press, 1986

Macroeconomic policy involves government action intended to influence the overall operation of the economy and to deal with such important public problems as economic growth, inflation, unemployment, and recession. In this first comprehensive treatment of presidential management of such policy for any presidency, authors James E. Anderson and Jared E. Hazleton focus on four tasks: developing and maintaining an information and decision-making system; coordination of policies in different macroeconomic areas; building support or consent for presidential policies; and administrative leadership. Drawing extensively upon presidential documents and interviews with Johnson administration officials, the authors pay particular attention to fiscal, monetary, wage-price, and international economic (especially balance of payments) policies during Johnson’s terms.

The authors use the concept of the subpresidency, as defined by Redford and Blisset in Organizing the Executive Branch: The Johnson Presidency (University of Chicago Press, 1981), to show how Johnson managed the macro-economic institutions of the council of Economic Advisors, the Bureau of the Budget (now the Office of Management and Budget), the Department of the Treasury, and the Federal Reserve Board in pursuit of his economic goals. What emerges is a vivid portrait of an activist president.

In evaluating management of macroeconomic policy in the Johnson administration, the authors focus on how presidential policies are developed and adopted rather than on the substance of the policies themselves. They conclude that the Johnson administration competently managed policy development during its presidential years.

This book is a volume in the Administrative History of the Johnson Presidency Series sponsored by the LBJ School of Public Affairs at the University of Texas at Austin, the first two volumes of which were published by the University of Chicago Press. Managing Macroeconomic Policy: The Johnson Presidency was funded in part by the National Endowment for the Humanities.

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Managing "Modernity"
Work, Community, and Authority in Late-Industrializing Japan and Russia
Rudra Sil
University of Michigan Press, 2002
In Managing "Modernity," Rudra Sil examines how institution-builders respond to the competing influences of institutional models and inherited social legacies as they attempt to generate and sustain authority in late-industrializing societies. Through a historical and comparative study of large-scale enterprises in Japan and Russia, the book examines the impact of different institution-building strategies on managerial authority, invoking the experience of postwar Japan to highlight the benefits of a syncretic approach that selectively integrates adaptable features of borrowed institutions with portable norms inherited from preexisting communities.
Managing "Modernity" engages a variety of intellectual perspectives in the social sciences. The theoretical approach represents a conscious effort to overcome the contentious debates in political science and sociology among proponents of historical institutionalism, cultural analysis, and rational-choice theory. The substantive argument draws on, and partially integrates, concepts and findings from comparative politics, economic sociology, industrial relations, organization theory, business management, and the political economy of Japan and Russia.
In light of ongoing debates over the significance and impact of "globalization," the eclectic and integrative approach in Managing "Modernity" offers a fresh and provocative contribution that will interest scholars and graduate students across a variety of disciplines and subfields. It offers compelling insights to anyone generally concerned with the social forces that facilitate or hinder the diffusion of ideas and institutions across national boundaries.
Rudra Sil is Janice and Julian Bers Assistant Professor in the Social Sciences, Department of Political Science, University of Pennsylvania.
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The Meddlers
Sovereignty, Empire, and the Birth of Global Economic Governance
Jamie Martin
Harvard University Press, 2022

The Meddlers is an eye-opening, essential new history that places our international financial institutions in the transition from a world defined by empire to one of nation states enmeshed in the world economy.”
—Adam Tooze, Columbia University


An award-winning history traces the origins of global economic governance—and the political conflicts it generates—to the aftermath of World War I.

International economic institutions like the International Monetary Fund and World Bank exert incredible influence over the domestic policies of many states. These institutions date from the end of World War II and amassed power during the neoliberal era of the late twentieth century. But as Jamie Martin shows, if we want to understand their deeper origins and the ideas and dynamics that shaped their controversial powers, we must turn back to the explosive political struggles that attended the birth of global economic governance in the early twentieth century.

The Meddlers tells the story of the first international institutions to govern the world economy, including the League of Nations and Bank for International Settlements, created after World War I. These institutions endowed civil servants, bankers, and colonial authorities from Europe and the United States with extraordinary powers: to enforce austerity, coordinate the policies of independent central banks, oversee development programs, and regulate commodity prices. In a highly unequal world, they faced a new political challenge: was it possible to reach into sovereign states and empires to intervene in domestic economic policies without generating a backlash?

Martin follows the intense political conflicts provoked by the earliest international efforts to govern capitalism—from Weimar Germany to the Balkans, Nationalist China to colonial Malaya, and the Chilean desert to Wall Street. The Meddlers shows how the fraught problems of sovereignty and democracy posed by institutions like the IMF are not unique to late twentieth-century globalization, but instead first emerged during an earlier period of imperial competition, world war, and economic crisis.

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Men without Work
Post-Pandemic Edition (2022)
Eberstadt, Nicholas
Templeton Press, 2022
Nicholas Eberstadt’s landmark 2016 study, Men without Work, cast a spotlight on the collapse of work for men in modern America. Rosy reports of low unemployment rates and “full or near full employment” conditions, he contends, were overlooking a quiet, continuing crisis: Depression-era work rates for American men of “prime working age” (25–54).
   The grim truth: over six million prime-age men were neither working nor looking for work. Conventional unemployment measures ignored these labor force dropouts, but their ranks had been rising relentlessly for half a century. Eberstadt’s unflinching analysis was, in the words of The New York Times, “an unsettling portrait not just of male unemployment, but also of lives deeply alienated from civil society.”
   The famed American work ethic was once near universal: men of sound mind and body took pride in contributing to their communities and families. No longer, warned Eberstadt. And now—six years and one catastrophic pandemic later—the problem has not only worsened: it has seemingly been spreading among prime-age women and workers over fifty-five.
   In a brand new introduction, Eberstadt explains how the government’s response to Covid-19 inadvertently exacerbated the flight from work in America. From indiscriminate pandemic shutdowns to almost unconditional “unemployment” benefits, Americans were essentially paid not to work.
   Thus today, despite the vaccine rollouts, inexplicable numbers of working age men and women are sitting on the sidelines while over 11 million jobs go unfilled. Current low rates of unemployment, touted by pundits and politicians, are grievously misleading. The truth is that fewer prime-age American men are looking for readily available work than at any previous juncture in our history. And others may be catching the “Men Without Work” virus too.
   Given the devastating economic impact of the Covid calamity and the unforeseen aftershocks yet to come, this reissue of Eberstadt’s groundbreaking work is timelier than ever.
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Mexican Women in American Factories
Free Trade and Exploitation on the Border
By Carolyn Tuttle
University of Texas Press, 2012

Prior to the millennium, economists and policy makers argued that free trade between the United States and Mexico would benefit both Americans and Mexicans. They believed that NAFTA would be a “win-win” proposition that would offer U.S. companies new markets for their products and Mexicans the hope of living in a more developed country with the modern conveniences of wealthier nations. Blending rigorous economic and statistical analysis with concern for the people affected, Mexican Women in American Factories offers the first assessment of whether NAFTA has fulfilled these expectations by examining its socioeconomic impact on workers in a Mexican border town.

Carolyn Tuttle led a group that interviewed 620 women maquila workers in Nogales, Sonora, Mexico. The responses from this representative sample refute many of the hopeful predictions made by scholars before NAFTA and reveal instead that little has improved for maquila workers. The women’s stories make it plain that free trade has created more low-paying jobs in sweatshops where workers are exploited. Families of maquila workers live in one- or two-room houses with no running water, no drainage, and no heat. The multinational companies who operate the maquilas consistently break Mexican labor laws by requiring women to work more than nine hours a day, six days a week, without medical benefits, while the minimum wage they pay workers is insufficient to feed their families. These findings will make a crucial contribution to debates over free trade, CAFTA-DR, and the impact of globalization.

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front cover of Millennial Reflections on International Studies
Millennial Reflections on International Studies
Michael Brecher and Frank P. Harvey, Editors
University of Michigan Press, 2002

Forty-five prominent scholars engage in self-critical, state-of-the-art reflection on international studies to stimulate debates about successes and failures and to address the larger question of progress in the discipline. Written especially for the collection, these essays are in hardcover in the form of an easy-to-use handbook, and in paperback as a number of separate titles, each of which consists of a particular thematic cluster to merge with the range of topics taught in undergraduate and graduate courses in international studies.

The themes addressed are realism, institutionalism, critical perspectives, feminist theory and gender studies, methodology (formal modeling, quantitative, and qualitative), foreign policy analysis, international security and peace studies, and international political economy.

This collection provides an accessible and wide-ranging survey of the issues in the field as well as an invaluable bibliography, and will undoubtedly determine the shape of future research in international studies for the millennium.

Paperbacks for course adoption:

Realism and Institutionalism in International Studies
Michael Brecher and Frank P. Harvey, Editors

Conflict, Security, Foreign Policy, and International Political Economy:Past Paths and Future Directions in International Studies
Michael Brecher and Frank P. Harvey, Editors

Evaluating Methodology in International Studies
Frank P. Harvey and Michael Brecher, Editors

Critical Perspectives in International Studies
Frank P. Harvey and Michael Brecher, Editors

Contributors are: Steve J. Brams, Davis B. Bobrow, Michael Cox, Robert W. Cox, Bruce Bueno de Mesquita, Joseph M. Grieco, Ernst B. Haas , Peter M. Haas, Kal J. Holsti, Ole R. Holsti, Patrick James, Robert O. Keohane, Edward A. Kolodziej, Louis Kriesberg Robert T. Kudrle, David A. Lake, Yosef Lapid, Russell Leng , Jack S. Levy, L. H. M. Ling, Zeev Maoz, Lisa L. Martin, John J. Mearsheimer, Manus I. Midlarsky, Linda B. Miller, Helen Milner , Michael Nicholson, Joseph Nye, V. Spike Peterson , Jan Jindy Pettman, James Lee Ray , James Rosenau, Harvey Starr, J. David Singer, Steve Smith, Christine Sylvester, J. Ann Tickner, John Vasquez, Yaacov Y. I. Vertzberger, R. B. J. Walker, Stephen G. Walker , Jonathan Wilkenfeld, Oran Young, Marysia Zalewski, and Dina A. Zinnes.

Michael Brecher is R. B. Angus Professor of Political Science, McGill University, and former president of the International Studies Association.

Frank P. Harvey is Professor of Political Science and Director, Center for Foreign Policy Studies, Dalhousie University.

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front cover of The Mismeasure of Progress
The Mismeasure of Progress
Economic Growth and Its Critics
Stephen J. Macekura
University of Chicago Press, 2020
Few ideas in the past century have had wider financial, political, and governmental impact than that of economic growth. The common belief that endless economic growth, as measured by Gross Domestic Product, is not only possible but actually essential for the flourishing of civilization remains a powerful policy goal and aspiration for many. In The Mismeasure of Progress, Stephen J. Macekura exposes a historical road not taken, illuminating the stories of the activists, intellectuals, and other leaders who long argued that GDP growth was not all it was cracked up to be.

Beginning with the rise of the growth paradigm in the 1940s and 1950s and continuing through the present day, The Mismeasure of Progress is the first book on the myriad thinkers who argued against growth and the conventional way progress had been measured and defined. For growth critics, questioning the meaning and measurement of growth was a necessary first step to creating a more just, equal, and sustainable world. These critics argued that focusing on growth alone would not resolve social, political, and environmental problems, and they put forth alternate methods for defining and measuring human progress.

​In today’s global political scene—marked by vast inequalities of power and wealth and made even more fraught by a global climate emergency—the ideas presented by these earlier critics of growth resonate more loudly than ever. Economic growth appealed to many political leaders because it allowed them to avoid addressing political trade-offs and class conflict. It sustained the fiction that humans are somehow separate from nonhuman “nature,” ignoring the intimate and dense connections between the two. In order to create a truly just and equitable society, Macekura argues, we need a clear understanding of our collective needs beyond growth and more holistic definitions of progress that transcend economic metrics like GDP.
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Monetary Policy
Edited by N. Gregory Mankiw
University of Chicago Press, 1994
In Monetary Policy, leading monetary economists discuss applied aspects of monetary policy and offer practical new research on the timing, magnitude, and channels of central banking actions.

Some of the papers in this volume evaluate a variety of policy rules based on monetary aggregates, nominal income, commodity prices, and other economic variables. Others analyze price behavior and inflation, particularly the short-run behavior of prices. Still others examine the monetary transmission mechanism—the channel through which the central bank's actions affect spending on goods and services—with a special focus on the reduction in bank lending that must accompany a reduction in reserves.
This new research will be of special interest to central bankers and academic economists.
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Monetary Politics
Exchange Rate Cooperation in the European Union
Thomas H. Oatley
University of Michigan Press, 1998
A single currency--and the necessary prior condition of exchange rate cooperation and the stabilization of exchange rates--has been an elusive goal of many European leaders for more than twenty years. While much of the literature on exchange rate cooperation within the European Union focuses on the integration of national economies as the driving force, Thomas Oatley draws on public choice models to develop an explanation of exchange rate cooperation based on domestic politics. The author then tests hypotheses derived from this model in a detailed consideration of the various efforts to stabilize currencies since the 1970s. Oatley argues that monetary policy has distributional effects and is used by policy makers to achieve domestic policy goals. Thus domestic politics plays an important role in defining the approach leaders take to monetary integration. Oatley suggests that leaders supported the creation of the European Monetary System because governments saw a link to the Bundesbank as a useful instrument to help slow the growth of wages, redistribute income from labor to capital, and achieve domestic stabilization. The later collapse of the System reflected the unwillingness on the part of many leaders to continue to follow the Bundesbank's lead as well as the Bundesbank's own reservations about monetary integration.
Given the rising strife in countries such as France over the domestic costs of monetary integration, Oatley's domestic politics explanation will be useful in understanding the continued efforts of European policy makers to work towards an integrated currency. This book should appeal to political scientists and economists interested in international cooperation, the European Union and exchange rate systems.
Thomas Oatley is Assistant Professor of Political Science, University of North Carolina.
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Multilateral Institutions
A Critical Introduction
Morten Boas and Desmond McNeill
Pluto Press, 2003


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