Industrial-Sized Deals TextBTS15 Shop Men's Hightops Learn more nav_sap_SWP_6M_fly_beacon Iron Maiden UP3 $5 Off Fire TV Stick Subscribe & Save Shop Popular Services hog hog hog  Amazon Echo Starting at $99 Kindle Voyage Shop Now Baby Sale
The Redistribution Recession and over one million other books are available for Amazon Kindle. Learn more

The Redistribution Recession: How Labor Market Distortions Contracted the Economy 1st Edition

15 customer reviews
ISBN-13: 978-0199942213
ISBN-10: 0199942218
Why is ISBN important?
ISBN
This bar-code number lets you verify that you're getting exactly the right version or edition of a book. The 13-digit and 10-digit formats both work.
Scan an ISBN with your phone
Use the Amazon App to scan ISBNs and compare prices.
Have one to sell? Sell on Amazon
Buy used
$9.48
Buy new
$37.61
More Buying Choices
22 New from $26.05 25 Used from $5.52
Free Two-Day Shipping for College Students with Amazon Student Free%20Two-Day%20Shipping%20for%20College%20Students%20with%20Amazon%20Student


InterDesign Brand Store Awareness Rent Textbooks
$37.61 FREE Shipping. Only 12 left in stock (more on the way). Ships from and sold by Amazon.com. Gift-wrap available.

Frequently Bought Together

The Redistribution Recession: How Labor Market Distortions Contracted the Economy + A Nation of Takers: America's Entitlement Epidemic + "Trickle Down Theory" and "Tax Cuts for the Rich"
Price for all three: $50.87

Buy the selected items together

Editorial Reviews

Review


"Much of the policy reaction to the Great Recession emphasized Keynesian effects on aggregate demand and downplayed individual incentives to work, produce, and invest. In contrast, Casey Mulligan's research focuses on how an expanded array of U.S. safety-net programs-food stamps, unemployment insurance, Medicaid, and housing/mortgage assistance programs-raised effective marginal income-tax rates especially for poor families. These diminished incentives to work help to explain the weakness of the U.S. economic recovery since the end of the recession in 2009 and also explain why Barack Obama is justifiably called the 'Food-Stamp President.' Hopefully, future government policymakers will deliver better results by learning from this important book." --Robert J. Barro, Paul M. Warburg Professor of Economics, Harvard University


"Professor Mulligan analyzes the question of why has labor supply remained low and unemployment remained high during the current recession. He finds that the expansion of government safety net programs along with their associated high marginal tax rates, decreases the economic incentives for labor supply. The question at issue is how much of the decrease in labor supply arises from these effects and their associated redistribution of income compared to the decreases in demand in sectors such as construction and manufacturing? He concludes that it is possible that nearly all or at least much of the decline in labor usage can be attributed to expansion of the social safety net. I highly recommend this sure to be controversial analysis of the effects of the Great Recession. Professor Mulligan has provided an innovative analysis of our current economic woes, which should cause most economists to rethink their views of what has gone wrong." --Jerry Hausman, McDonald Professor of Economics, MIT


"Casey Mulligan's The Redistribution Recession presents a heterodox perspective on the Great Recession. The book argues that redistributive and other policies enacted to help cushion the blow of the financial and housing market collapses have reduced incentives to work, and thus had the unintended consequence of significantly lengthening and deepening the recession. The rich set of empirical analyses that Mulligan presents in support of this argument challenges the view that the problem of recovering from the Great Recession remains solely one of insufficient aggregate demand. Moreover, the analysis will likely provide a foundation for future research on the Great Recession and how policymakers responded to it." --David Neumark, Chancellor's Professor of Economics and Director, Center for Economics & Public Policy, University of California-Irvine


"The endless campaign rhetoric on what to do about the recent recession left many wondering who or what was at fault. This book is an excellently researched attempt to provide an answer. Though the explanations and conclusions Mulligan presents are accessible to general readers, the methodology and econometric analysis require sophisticated training. This book provides a wealth of scholarly data and analysis...highly recommended."--CHOICE


"While by no means presenting the whole story (as Mulligan himself agrees), the book challenges many of the widely accepted views of the Great Recession... the book unquestionably presents serious economic analyses, thus taking the discussion to a more sophisticated level." --Journal of Regional Science


About the Author


Professor of Economics, University of Chicago, author of Parental Priorities and Economic Inequality, weekly contributor to Economix blog for the New York Times

NO_CONTENT_IN_FEATURE


Best Books of the Month
Best Books of the Month
Want to know our Editors' picks for the best books of the month? Browse Best Books of the Month, featuring our favorite new books in more than a dozen categories.

Product Details

  • Hardcover: 368 pages
  • Publisher: Oxford University Press; 1 edition (November 2, 2012)
  • Language: English
  • ISBN-10: 0199942218
  • ISBN-13: 978-0199942213
  • Product Dimensions: 9.3 x 1.1 x 6.3 inches
  • Shipping Weight: 1.6 pounds (View shipping rates and policies)
  • Average Customer Review: 3.5 out of 5 stars  See all reviews (15 customer reviews)
  • Amazon Best Sellers Rank: #1,038,905 in Books (See Top 100 in Books)

More About the Author

Discover books, learn about writers, read author blogs, and more.

Customer Reviews

Most Helpful Customer Reviews

77 of 85 people found the following review helpful By Sinohey TOP 500 REVIEWER on November 11, 2012
Format: Hardcover
Unlike the two previous reviewers I have actually read the book. The author is a professor of economics at the University of Chicago who has written extensively about the gender wage gap, the economics of aging, Social Security, capital and labor taxation and voting. Professor Mulligan is the recipient of numerous awards including the Alfred P. Sloan Foundation, The John M. Olin Foundation and the National Science Foundation. He is not a supporter of Keynesian economics and is considered by many to be the antithesis of Paul Krugman.

The thrust of this book is that the overly generous social safety net programs have caused the lethargic recovery from the recession and intractably high unemployment rate. Mulligan believes that redistribution of wealth undermined the incentive to work and damaged productivity.

The Obama administration's excessive levels of spending, with the complicity of Congress, have caused a rise in unemployment much higher than it would have been otherwise.
Since 2007, many essential traits of the economy and the labor market have changed radically. Congress raised the minimum wage three times in the past five years, thus increasing the cost of labor and decreasing the available number of jobs. With the exception of Medicaid, subsidies bestowed on the unemployed in the forms of loan forgiveness and government transfers almost tripled. The liberality of mean-tested subsidies like food stamps and unemployment insurance has steadily increased. Consumer loans, mortgages, business debts and tax debts forgiveness has been vastly expanded and "government transfers almost tripled". The average yearly benefit for not working rose from $10,000 in 2007 to $16,000 in 2009 and keeps on growing.
Read more ›
4 Comments Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again
27 of 29 people found the following review helpful By Richard Carlson on August 19, 2013
Format: Kindle Edition Verified Purchase
Possibly the most important economics book of the decade but an incredibly difficult read. If you don't have a graduate degree in economics, as I do, you'll find it the toughest read of your life. Equation on top of equation, dense prose, obtuse diagrams, confusing tables; all the necessary ingredients to drive the average reader insane. But the content is wonderful! With vast detail and brilliant analysis, the author demonstrates how the government turned a bad recession into an unemployment nightmare. That's on top of the Goldman Sachs Demopublicans bailing out Wall Street at the expense of Main Street. Furthermore, these results strongly support the growing fear that Obamacare will be another unemployment disaster. If you believe it's an accident that Obamacare's employer provisions have been suspended for the coming election year, I have a bridge to sell you.
2 Comments Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again
30 of 35 people found the following review helpful By Robert Howland on February 9, 2013
Format: Hardcover Verified Purchase
As a guess, the book contains maybe 100 formulas, including a couple apparently using calculus, about 50 graphs and maybe 25 tables. This is not an accessible book for the common folk or even people with PhDs in other fields. Think of it as a journal article that is too long for a peer-reviewed journal. You have been warned.
Comment Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again
16 of 20 people found the following review helpful By Carlos Eugjnio Ellery L da Costa on March 15, 2013
Format: Kindle Edition Verified Purchase
While the focus of most discussions following the crisis has (correctly, in my opinion) be centered in the financial markets, too little attention has been paid to how the policy responses affect incentives in labor supply. The general presumption seems to be that labor market frictions explain all that is going on in this market. Although we need not agree with the whole analysis, as usual, Casey Mulligan comes up with a different angle that should not be dismissed, but closely scrutinized.
Comment Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again
23 of 34 people found the following review helpful By Taylor Davidson on January 31, 2013
Format: Hardcover
Don't be haters people! You may not like Dr. Mulligans conclusions but they are straight from the data. When you increase, at the margin, the compensation available for being unemployed, you will increase, at the margin, the number of people who remain unemployed.

One of Dr. Mulligan's most important insights is the disproportionate toll these welfare policies have had on younger Americans.

Buy this book and read it!
Comment Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again
7 of 10 people found the following review helpful By Thomas J. Zaleski on February 19, 2014
Format: Kindle Edition Verified Purchase
Excellent and original. As a fellow economist I devoured the book and its content. Real, accurate and easy to read. Totally explains the labor changes due to tech, etc
Comment Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again
Format: Kindle Edition Verified Purchase
You'll need an Econ 101 background to fully appreciate Mulligan's mathematical model, but the book contains a lot of important information accessible to the non-mathematically inclined. Mulligan looks carefully at the employment of different groups since 2009. It turns out that people who weren't eligible for welfare worked about the same number of hours or even more since the Collapse of 2008. Americans who could get various kinds of welfare benefits, as long as they didn't earn much, responded by working less or not working at all.

One thing that distinguishes this book from more conventional literature is that Mulligan looks at means-tested debt relief, including mortgage relief. It turns out that the government set things up so that lower-income Americans with mortgages could save $1.31 for every $1 by which they cut their earnings from wages. I.e., people who worked less actually had more spending power.

The book also provides a good survey of more standard economic research, e.g., the extent to which a higher minimum wage will cut employment and the extent to which people respond to extra welfare benefits by cutting their working hours. Very relevant right now to the political discussion around increasing minimum wages to $15/hour.
Comment Was this review helpful to you? Yes No Sending feedback...
Thank you for your feedback. If this review is inappropriate, please let us know.
Sorry, we failed to record your vote. Please try again

Set up an Amazon Giveaway

Amazon Giveaway allows you to run promotional giveaways in order to create buzz, reward your audience, and attract new followers and customers. Learn more
The Redistribution Recession: How Labor Market Distortions Contracted the Economy
This item: The Redistribution Recession: How Labor Market Distortions Contracted the Economy
Price: $37.61
Ships from and sold by Amazon.com

What Other Items Do Customers Buy After Viewing This Item?

Want to discover more products? Check out this page to see more: introduction to dynamic stochastic general equilibrium