Jeff Madrick is the Director of the Bernard L. Schwartz Rediscovering Government Initiative at the Century Foundation and Editor of Challenge. His most recent book is Seven Bad Ideas: How Mainstream Economists Damaged America and the World. (June 2017)
The Financial Diaries: How American Families Cope in a World of Uncertainty
by Jonathan Morduch and Rachel Schneider
Happiness for All?: Unequal Hopes and Lives in Pursuit of the American Dream
by Carol Graham
President Trump’s first federal budget proposal, unveiled in March, was a direct assault on the lives of millions of Americans. By sharply cutting or eliminating essential social programs to help pay for a dramatic increase in military spending, it would likely push many people into poverty and have damaging effects …
Lion of the Senate: When Ted Kennedy Rallied the Democrats in a GOP Congress
by Nick Littlefield and David Nexon
I should have suspected that Nick Littlefield had a career on Broadway before he entered politics. Littlefield was the Kennedy aide who brought me to the senator’s attention in the 2000s based on my articles in these pages and others. My task was generally to write speeches and later to …
The Business of America Is Lobbying: How Corporations Became Politicized and Politics Became More Corporate
by Lee Drutman
The Influence Machine: The US Chamber of Commerce and the Corporate Capture of American Life
by Alyssa Katz
On President Obama’s first day in office in 2009, he issued an executive order to close “the revolving door” between government and the private sector by restricting the hiring of any registered lobbyists for positions in his administration. But Obama himself eventually hired at least seventy lobbyists, many of whom …
Falling Short: The Coming Retirement Crisis and What to Do About It
by Charles D. Ellis, Alicia H. Munnell, and Andrew D. Eschtruth
Social Security Works! Why Social Security Isn’t Going Broke and How Expanding It Will Help Us All
by Nancy J. Altman and Eric R. Kingson, forward by David Cay Johnston
Social Security may well be the most popular social program in America. Its popularity may explain why it has seemed easy to frighten the general public about Social Security’s demise with an alarmist campaign that has been underway since the 1990s and early 2000s, and continues today.
There is plenty to be afraid of about Trump’s economic plans. It could well be that the new administration, backed by a Republican-controlled Congress, will start cutting needed social services to the bone. So why has the stock market been soaring since two days after the election? Investors apparently have concluded that the economy can grow faster if the deficit grows, even if it leads to higher inflation and interest rates. This is exactly the fiscal medicine many liberals had been advocating.
I am gratified that the NYR Daily chose to review Men Without Work: America’s Invisible Crisis, and that Jeff Madrick is the reviewer since I have always enjoyed, if not always agreed with, his work. However, several oversights and errors in his depiction of my study require correction. I never argue that disability programs caused the great male flight from work. My incontestable point: they helped finance it.
While macroeconomic data show a relatively healthy US economy, overall participation in the workforce—what is known as the employment-to-population ratio—is historically low. One explanation is that many more people are in school, but that still leaves some 9.5 million fewer men at work than in 1965. There are simply too few jobs.