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Subtitle: How Labor Market Distortions Contracted the
Economy - Oxford Univ. Press, NYC., 2012, Bibliography, end notes, tables,
graphs
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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).
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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.
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Chapter 1 - Introduction
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Chapter 2 - The Rise of Labor Productivity
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Chapter 3 - The Expanding Social Safety Net
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Chapter 4 - Supply and Demand; Labor Market Consequences
of Safety Net Expansion
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Chapter 5 - Means-Tested Subsidies and Economic Dynamics
Since 2007
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Chapter 6 - Cross-Sectional Patterns of Employment and
Hours Changes
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Chapter 7 - Keynesian and Other Models of Safety Net
Stimulus
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Chapter 8 - Recession - Era Effects of Factor Supply and
Demand.
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Chapter 9 - Incentives and Compliance Under the Federal
Mortgage Modification Guidelines
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Chapter 10 - Uncertainty, Redistribution, and the labor
Market
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Chapter 11 - Conclusions
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