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Parents around the world grapple with the common challenge of balancing work and child care. Despite common problems, the industrialized nations have developed dramatically different social and labor market policies—policies that vary widely in the level of support they provide for parents and the extent to which they encourage an equal division of labor between parents as they balance work and care. In Families That Work, Janet Gornick and Marcia Meyers take a close look at the work-family policies in the United States and abroad and call for a new and expanded role for the U.S. government in order to bring this country up to the standards taken for granted in many other Western nations. In many countries in Europe and in Canada, family leave policies grant parents paid time off to care for their young children, and labor market regulations go a long way toward ensuring that work does not overwhelm family obligations. In addition, early childhood education and care programs guarantee access to high-quality care for their children. In most of these countries, policies encourage gender equality by strengthening mothers' ties to employment and encouraging fathers to spend more time caregiving at home. In sharp contrast, Gornick and Meyers show how in the United States—an economy with high labor force participation among both fathers and mothers—parents are left to craft private solutions to the society-wide dilemma of "who will care for the children?" Parents—overwhelmingly mothers—must loosen their ties to the workplace to care for their children; workers are forced to negotiate with their employers, often unsuccessfully, for family leave and reduced work schedules; and parents must purchase care of dubious quality, at high prices, from consumer markets. By leaving child care solutions up to hard-pressed working parents, these private solutions exact a high price in terms of gender inequality in the workplace and at home, family stress and economic insecurity, and—not least—child well-being. Gornick and Meyers show that it is possible–based on the experiences of other countries—to enhance child well-being and to increase gender equality by promoting more extensive and egalitarian family leave, work-time, and child care policies. Families That Work demonstrates convincingly that the United States has much to learn from policies in Europe and in Canada, and that the often-repeated claim that the United States is simply "too different" to draw lessons from other countries is based largely on misperceptions about policies in other countries and about the possibility of policy expansion in the United States.

The 1993 publication of Marianne A. Ferber and Julie A. Nelson's Beyond Economic Man was a landmark in both feminist scholarship and the discipline of economics, and it quickly became a handbook for those seeking to explore the emerging connections between the two. A decade later, this book looks back at the progress of feminist economics and forward to its future, offering both a thorough overview of feminist economic thought and a collection of new, high-quality work from the field's leading scholars.

Though there are still just twenty-four hours in a day, society's idea of who should be doing what and when has shifted. Time, the ultimate scarce resource, has become an increasingly contested battle zone in American life, with work, family, and personal obligations pulling individuals in conflicting directions. In Fighting for Time, editors Cynthia Fuchs Epstein and Arne Kalleberg bring together a team of distinguished sociologists and management analysts to examine the social construction of time and its importance in American culture. Fighting for Time opens with an exploration of changes in time spent at work—both when people are on the job and the number of hours they spend there—and the consequences of those changes for individuals and families. Contributors Jerry Jacobs and Kathleen Gerson find that the relative constancy of the average workweek in America over the last thirty years hides the fact that blue-collar workers are putting in fewer hours while more educated white-collar workers are putting in more. Rudy Fenwick and Mark Tausig look at the effect of nonstandard schedules on workers' health and family life. They find that working unconventional hours can increase family stress, but that control over one's work schedule improves family, social, and health outcomes for workers. The book then turns to an examination of how time influences the organization and control of work. The British insurance company studied by David Collinson and Margaret Collinson is an example of a culture where employees are judged on the number of hours they work rather than on their productivity. There, managers are under intense pressure not to take legally guaranteed parental leave, and clocks are banned from the office walls so that employees will work without regard to the time. In the book's final section, the contributors examine how time can have different meanings for men and women. Cynthia Fuchs Epstein points out that professional women and stay-at-home fathers face social disapproval for spending too much time on activities that do not conform to socially prescribed gender roles—men are mocked by coworkers for taking paternity leave, while working mothers are chastised for leaving their children to the care of others. Fighting for Time challenges assumptions about the relationship between time and work, revealing that time is a fluid concept that derives its importance from cultural attitudes, social psychological processes, and the exercise of power. Its insight will be of interest to sociologists, economists, social psychologists, business leaders, and anyone interested in the work-life balance.

A scientifically grounded method by which we can understand human conflict in all its forms

The economic crisis of 2008 led to an unprecedented focus on the world of high finance—and revealed it to be far more arcane and influential than most people could ever have imagined. Any hope of avoiding future crises, it’s clear, rest on understanding finance itself.
            To understand finance, however, we have to learn its history, and this book fills that need. Kevin R. Brine, an industry veteran, and Mary Poovey, an acclaimed historian, show that finance as we know it today emerged gradually in the late nineteenth century and only coalesced after World War II, becoming ever more complicated—and ever more central to the American economy. The authors explain the models, regulations, and institutions at the heart of modern finance and uncover the complex and sometimes surprising origins of its critical features, such as corporate accounting standards, the Federal Reserve System, risk management practices, and American Keynesian and New Classic monetary economics. This book sees finance through its highs and lows, from pre-Depression to post-Recession, exploring the myriad ways in which the practices of finance and the realities of the economy influenced one another through the years.
            A masterwork of collaboration, Finance in America lays bare the theories and practices that constitute finance, opening up the discussion of its role and risks to a broad range of scholars and citizens.
 

Warnings of the threat of an impending financial crisis are not new, but do we really know what constitutes an actual episode of crisis and how, once begun, it can be prevented from escalating into a full-blown economic collapse?

Using both historical and contemporary episodes of breakdowns in financial trade, contributors to this volume draw insights from theory and empirical data, from the experience of closed and open economies worldwide, and from detailed case studies. They explore the susceptibility of American corporations to economic downturns; the origins of banking panics; and the behavior of financial markets during periods of crisis. Sever papers specifically address the current thrift crisis—including a detailed analysis of the over 500 FSLIC-insured thrifts in the southeast—and seriously challenge the value of recent measures aimed at preventing future collapse in that industry. Government economists and policy makers, scholars of industry and banking, and many in the business community will find these timely papers an invaluable reference.

Access to capital and financial services is crucial for healthy communities.  However, many impoverished individuals and neighborhoods are routinely ignored by mainstream financial institutions.  This neglect led to the creation of community development financial institutions (CDFIs), which provide low-income communities with financial services and act as a conduit to conventional financial organizations and capital markets. Edited by Julia Sass Rubin, Financing Low-Income Communities brings together leading experts in the field to assess what we know about the challenges of bringing financial services and capital to poor communities, map out future lines of research, and propose policy reforms to make these efforts more effective. The contributors to Financing Low-Income Communities distill research on key topics related to community development finance. Daniel Schneider and Peter Tufano examine the obstacles that make saving and asset accumulation difficult for low-income households—such as the fact that tens of millions of low-income and minority adults don't have a bank account—and consider solutions, like making it easier for low-wage workers to enroll in 401(K) plans. Jeanne Hogarth, Jane Kolodinksy, and Marianne Hilgert review evidence showing that community-based financial education programs can be effective in changing families' saving and budgeting patterns.  Lisa Servon proposes strategies for addressing the challenges facing the microenterprise field in the United States.  Julia Sass Rubin discusses ways community loan and venture capital funds have adapted in response to the decreased availability of funding, and considers potential sources of new capital, such as state governments and public pension funds.  Marva Williams explores the evolution and recent performance of community development banks and credit unions.  Kathleen Engel and Patricia McCoy document the proliferation of predatory lenders, who market loans at onerous interest rates to financially vulnerable families and the devastating effects of such lending on communities—from increased crime to falling home values and lower tax revenues. Rachel Bratt reviews the policies and programs used to make rental and owned housing financially accessible.  Rob Hollister proposes a framework for evaluating the contributions of community development financial institutions. Despite the many accomplishments of CDFIs over the last four decades, changing political and economic conditions make it imperative that they adapt in order to survive.  Financing Low-Income Communities charts out new directions for public and private organizations which aim to end the financial exclusion of marginalized neighborhoods.

Do plummeting welfare caseloads and rising employment prove that welfare reform policies have succeeded, or is this success due primarily to the job explosion created by today's robust economy? With roughly one to two million people expected to leave welfare in the coming decades, uncertainty about their long-term prospects troubles many social scientists. Finding Jobs offers a thorough examination of the low-skill labor market and its capacity to sustain this rising tide of workers, many of whom are single mothers with limited education. Each chapter examines specific trends in the labor market to ask such questions as: How secure are these low-skill jobs, particularly in the event of a recession? What can these workers expect in terms of wage growth and career advancement opportunities? How will a surge in the workforce affect opportunities for those already employed in low-skill jobs? Finding Jobs offers both good and bad news about work and welfare reform. Although the research presented in this book demonstrates that it is possible to find jobs for people who have traditionally relied on public assistance, it also offers cautionary evidence that today's strong economy may mask enduring underlying problems. Finding Jobs shows that the low-wage labor market is particularly vulnerable to economic downswings and that lower skilled workers enjoy less job stability. Several chapters illustrate why financial incentives, such as the Earned Income Tax Credit (EITC), are as essential to encouraging workforce participation as job search programs. Other chapters show the importance of including provisions for health insurance, and of increasing subsidies for child care to assist the large population of working single mothers affected by welfare reform. Finding Jobs also examines the potential costs of new welfare restrictions. It looks at how states can improve their flexibility in imposing time limits on families receiving welfare, and calls into question the cutbacks in eligibility for immigrants, who traditionally have relied less on public assistance than their native-born counterparts. Finding Jobs is an informative and wide-ranging inquiry into the issues raised by welfare reform. Based on comprehensive new data, this volume offers valuable guidance to policymakers looking to design policies that will increase work, raise incomes, and lower poverty in changing economic conditions.

The recent recession has brought fiscal policy back to the forefront, with economists and policy makers struggling to reach a consensus on highly political issues like tax rates and government spending. At the heart of the debate are fiscal multipliers, whose size and sensitivity determine the power of such policies to influence economic growth.

Fiscal Policy after the Financial Crisis focuses on the effects of fiscal stimuli and increased government spending, with contributions that consider the measurement of the multiplier effect and its size. In the face of uncertainty over the sustainability of recent economic policies, further contributions to this volume discuss the merits of alternate means of debt reduction through decreased government spending or increased taxes. A final section examines how the short-term political forces driving fiscal policy might be balanced with aspects of the long-term planning governing monetary policy.

A direct intervention in timely debates, Fiscal Policy after the Financial Crisis offers invaluable insights about various responses to the recent financial crisis.

Small-scale fishing, a house-hold based enterprise in Puerto Rico, rarely provides sufficient income for a family, but it anchors their culture and sense of themselves within that culture. Even when family members must engage in wage work to supplement house-hold income, they think of themselves as fishers. Liche typifies these wage workers: "When he was quite young, he left the island to struggle in other lands, to work, to raise a family, to send home the money he earned. Ten, twenty, thirty years passed...during which he did not once fish or even see the ocean. But in a boat-building factory in New Jersey, in a bakery in the Bronx, on the production line of a chemical factory, on dozens of construction sites, every single day he made a mental review of the waters, the isles and cays ...and entertained no thought that was not related to his return."

Fishers at Work, Workers at Sea describes Puerto Rican fishing families as they negotiate homeland and diaspora. It considers how wage work affects their livelihoods and identities at home and how these independent producers move in and out of global commodity markets. Drawing on some 100 life histories and years of fieldwork, David Griffith and Manuel Valdés Pizzini have developed a complex, often moving portrait of the men and women who fiercely struggle to hang onto the coastal landscapes and cultural heritage tied to the Caribbean Sea.

Friedlander and Burtless teach us why welfare reform will not be easy. Their sobering assessment of job training programs willenlighten a debate too often dominated by wishful thinking and political rhetoric. Look for their findings to be cited for many years to come. —Douglas Besharov, American Enterprise Institute A methodologically astute study that sheds considerable light on the potential for and limits to raising the employment and earnings of welfare recipients and provides benchmarks against which the impacts of later programs can be compared. —Journal of Economic Literature With welfare reforms tested in almost every state and plans for a comprehensive federal overall on the horizon, it is increasingly important for Americans to understand how policy changes are likely to affect the lives of welfare recipients. Five Years After tells the story of what happened to the welfare recipients who participated in the influential welfare-to-work experiments conducted by several states in the mid-1980s.The authors review the distinctive goals and procedures of evaluations performed in Arkansas, Baltimore, San Diego, and Virginia, and then examine five years of follow-up data to determine whether the initial positive impact on employment, earnings, and welfare costs held up over time. The results were surprisingly consistent. Low-cost programs that saved money by getting individuals into jobs quickly did little to reduce poverty in the long run. Only higher-cost educational programs enabled welfare recipients to hold down jobs successfully and stay off welfare. Five Years After ends speculation about the viability of the first generation of employment programs for welfare recipients, delineates the hard choices that must be made among competing approaches, and provides a well-documented foundation for building more comprehensive programs for the next generation. A sobering tale for welfare reformers of all political persuasions, this book poses a serious challenge to anyone who promises to end welfare dependency by cutting welfare budgets.

The Folklorist in the Marketplace brings together voices from multiple disciplines to consider how economics shape—and are shaped by—folk groups and academic disciplines. The authors ask how folk and folklorists can productively comment on the economic structures they inhabit.
 
As trade, technology, and geopolitics have led to a rapid increase in the global spread of cultural products like media, knowledge, objects, and folkways, there has been a concomitant rise in fear and anxiety about globalization’s dark other side—economic nativism, neocolonialism, cultural appropriation, and loss. Culture has become a resource and a currency in the global marketplace. This movement of people and forms necessitates a new textual consideration of how folklore and economics interweave. In The Folklorist in the Marketplace, contributors explore how the marketplace and folklore have always been integrally linked and what that means at this cultural and economic moment.
 
Covering a variety of topics, from creel boats to the history of a commune that makes hammocks, The Folklorist in the Marketplace goes far beyond the well-trod examinations of material culture to look closely at the historical and contemporary intersections of these two disciplines and to provoke cross-disciplinary conversation and collaboration.
 
 
Contributors:
William A. Ashton, Halle M. Butvin, James I. Deutsch, Christofer Johnson, Michael Lange, John Laudun, Julie M-A LeBlanc, Cassie Patterson, Rahima Schwenkbeck, Amy Shuman, Irene Sotiropoulou, Yuanhao Zhao
 

McDonald's. Blockbuster Video. Jiffy Lube. Subway. Franchising has become an ever-present feature of the American landscape. One-third of the U.S. gross domestic product flows through franchises, and one out of every sixteen workers is employed by one. But how did franchising come to play such a dominant role in the American economy? What are the day-to-day experiences of franchisees and franchisers in the workplace? What challenges and pitfalls await them as they stake their claim to prosperity? These are just a few of the questions explored in Franchising Dreams, a documentary-like look into the frustrations and uncertainties that entrepreneurs face in their pursuit of the American dream.

Peter M. Birkeland worked for three years in the front-line operations of franchise units for three companies, met with CEOs and executives, and attended countless trade shows, seminars, and expositions. All this firsthand experience gave him unprecedented access to the hopes and aspirations of franchisees. His book closely traces different franchisees and follows them as their dreams of wealth and independence buckle beneath the weight of frustrating logistics and contractual technicalities. Through extensive interviews and research, Birkeland not only discovers what makes franchisees succeed or fail, he uncovers the difficulties in running a business according to someone else's system and values. Bearing witness to a market flooded with fierce competitors and dependent on the inscrutable whims of consumers, he uncovers the numerous challenges that franchisees face in making their businesses succeed.

"Cogently argued, fills an important gap in the literature, and is accessible to undergraduates." —Choice "Dismantles the mythology surrounding pawnshops and check-cashing outlets, and demonstrates that they are no longer on the fringe of our financial system but integral to it."—San Francisco Bay Guardian In today's world of electronic cash transfers, automated teller machines, and credit cards, the image of the musty, junk-laden pawnshop seems a relic of the past. But it is not. The 1980s witnessed a tremendous boom in pawnbroking. There are now more pawnshops thanever before in U.S. history, and they are found not only in large cities but in towns and suburbs throughout the nation. As John Caskey demonstrates in Fringe Banking, the increased public patronage of both pawnshops and commercial check-cashing outlets signals the growing number of American households now living on a cash-only basis, with no connection to any mainstream credit facilities or banking services. Fringe Banking is the first comprehensive study of pawnshops and check-cashing outlets, profiling their operations, customers, and recent growth from family-owned shops to such successful outlet chains as Cash American and ACE America's Cash Express. It explains why, despite interest rates and fees substantially higher than those of banks, their use has so dramatically increased. According to Caskey, declining family earnings, changing family structures, a growing immigrant population, and lack of household budgeting skills has greatly reduced the demand for bank deposit services among millions of Americans. In addition, banks responded to 1980s regulatory changes by increasing fees on deposit accounts with small balances and closing branches in many poor urban areas. These factors combined to leave many low- and moderate-income families without access to checking privileges, credit services, and bank loans. Pawnshops and check-cashing outlets provide such families with essential financial services thay cannot obtain elsewhere. Caskey notes that fringe banks, particularly check-cashing outlets, are also utilized by families who could participate in the formal banking system, but are willing to pay more for convenience and quick access to cash. Caskey argues that, contrary to their historical reputation as predators milking the poor and desperate, pawnshops and check-cashing outlets play a key financial role for disadvantaged groups. Citing the inconsistent and often unenforced state laws currently governing the industry, Fringe Banking challenges policy makers to design regulations that will allow fringe banks to remain profitable without exploiting the customers who depend on them.

In From Pleasure Machines to Moral Communities, Hodgson casts a critical eye on neoclassical individualism, its foundations and flaws, and turns to recent insights from research on the evolutionary bases of human behavior. He focuses his attention on the evolution of morality, its meaning, why it came about, and how it influences human attitudes and behavior. This more nuanced understanding sets the stage for a fascinating investigation of its implications on a range of pressing issues drawn from diverse environments, including the business world and crucial policy realms like health care and ecology.

 

This book provides a valuable complement to Hodgson’s earlier work with Thorbjørn Knudsen on evolutionary economics in Darwin’s Conjecture, extending the evolutionary outlook to include moral and policy-related issues.

A radical and comprehensive analysis of the commodification of artistic creation and the struggle to realize its potential in the digital age.

For mainstream economics, cultural production raises no special questions: creative expression is to be harvested for wealth creation like any other form of labor. As Karl Marx saw it, however, capital is hostile to the arts because it cannot fully control the process of creativity. But while he saw the arts as marginal to capital accumulation, that was before the birth of the mass media.

Engaging with the major issues in Marxist theory around art and capitalism, From Printing to Streaming traces how the logic of cultural capitalism evolved from the print age to digital times, tracking the development of printing, photography, sound recording, newsprint, advertising, film, and broadcasting, exploring the peculiarities of each as commodities, and their recent transformation by digital technology, where everything melts into computer code. Chanan demonstrates how these developments have had profound implications for both cultural creation and consumption.

As America's population ages, economic research related to the elderly becomes increasingly important to public policy.

Frontiers in the Economics in Aging directs attention to four topics: the role of retirement accounts, such as IRAs and 401(k)s in personal saving; the economics of health care; new advances in research methodology; and aging in relation to inequality. Some of the issues analyzed within these topics are the implications of rising personal retirement saving in recent years, how health and health insurance affect labor supply, and the effects of pensions on the distribution of wealth.

David Wise's lucid introduction provides an overview of each paper. In addition to this book's appeal for specialists and microeconomists, it offers immediately practical ideas and methods for shaping public policy. In fact, one of the papers in this volume, "The Taxation of Pensions: A Shelter Can Become a Trap," helped to spur new legislation that reformed laws on pension distribution.

Vollrath challenges our long-held assumption that growth is the best indicator of an economy’s health.

Most economists would agree that a thriving economy is synonymous with GDP growth. The more we produce and consume, the higher our living standard and the more resources available to the public. This means that our current era, in which growth has slowed substantially from its postwar highs, has raised alarm bells. But should it? Is growth actually the best way to measure economic success—and does our slowdown indicate economic problems?

The counterintuitive answer Dietrich Vollrath offers is: No. Looking at the same facts as other economists, he offers a radically different interpretation. Rather than a sign of economic failure, he argues, our current slowdown is, in fact, a sign of our widespread economic success. Our powerful economy has already supplied so much of the necessary stuff of modern life, brought us so much comfort, security, and luxury, that we have turned to new forms of production and consumption that increase our well-being but do not contribute to growth in GDP.

In Fully Grown, Vollrath offers a powerful case to support that argument. He explores a number of important trends in the US economy: including a decrease in the number of workers relative to the population, a shift from a goods-driven economy to a services-driven one, and a decline in geographic mobility. In each case, he shows how their economic effects could be read as a sign of success, even though they each act as a brake of GDP growth.  He also reveals what growth measurement can and cannot tell us—which factors are rightly correlated with economic success, which tell us nothing about significant changes in the economy, and which fall into a conspicuously gray area.

Sure to be controversial, Fully Grown will reset the terms of economic debate and help us think anew about what a successful economy looks like.