Economic Turbulence: Is a Volatile Economy Good for America?

✍ Scribed by Clair Brown, John Haltiwanger, Julia Lane

• Publisher: University Of Chicago Press
• Year: 2006
• Tongue: English
• Leaves: 210
• Category: Library

✦ Synopsis

Because the popular press focuses almost exclusively on net job creation or loss, they fail to paint a meaningful picture of how the U.S. economy really works underneath the surface. For every new job that journalists report in the economic section of your local newspaper, it typically means that 5 jobs were created and 4 were lost. And yet, churn of this sort is the sign of a healthy, vibrant economy. Thus, the effort to try to preserve jobs only leads to stagnation. Greater job loss will occur over the long run as competitors (both foreign and domestic) gain advantage precisely because they can both create and destroy jobs in response to market conditions. The authors of Economic Turbulence should be applauded for telling this story that too many people still don't want to hear.

✦ Table of Contents

Contents......Page 8
Acknowledgments......Page 10
1. Overview of the Book......Page 14
2. Economic Turbulence: What, Who, and How Much?......Page 23
3. The Industries......Page 36
4. Firms, Their Workers, and Their Survival......Page 52
5. Firm Turbulence and Job Ladders......Page 73
6. Turbulence and Worker Career Paths......Page 92
7. Economic Turbulence and Middle-Income Jobs......Page 113
8. Conclusions and Implications for Policy......Page 132
Appendix A. The Data......Page 142
Appendix B. Chapter 4 Background......Page 156
Appendix C. Chapters 5 and 6 Background......Page 162
Appendix D. Chapter 7 Background......Page 168
Notes......Page 174
Bibliography......Page 190
Index
......Page 204