This volume explores nine major questions regarding the labor market on which respected economists disagree. The purpose of the volume is to elevate the public debate about labor-market policy questions by exposing the public to this range of reasonable viewpoints.
This volume explores nine major questions regarding the labor market on which respected economists disagree. The purpose of the volume is to elevate the public debate about labor-market policy questions by exposing the public to this range of reasonable viewpoints.
Contents Acknowledgments vii Preface ix Michael R. Strain I. Should We Be Concerned About the State of Economic Mobility in the US? 1 How Much Social Mobility? More, but Not Without Other Things 2 Miles Corak What Should Be Done to Increase Intergenerational Mobility in the US? 14 Bhash Mazumder II. Is Productivity the Most Important Determinant of Compensation? 29 Marginally True: The Connection of Pay to Productivity 30 Dean Baker Does Productivity Still Determine Worker Compensation? Domestic and International Evidence 42 Robert Z. Lawrence III. How Can We Build Workers Skills? 63 Is Skill a Topic for Policy? 64 Peter Cappelli Worker Skills and the US Labor Market: What Role Should Policy Play? 77 Harry J. Holzer IV. How Can We Make Work Pay? 95 Supporting Work, Inclusion, and Mass Prosperity 96 Glenn Hubbard What Do We Really Know About the Employment Effects of the Minimum Wage? 106 Justin Wolfers V. Do Public Policies That Reduce the Reward to Work Significantly Diminish Labor Supply? 121 The US Safety Net and Work Incentives: Is There a Problem? What Should Be Done? 122 Robert A. Moffitt The Rise of Employment Taxation 138 Casey B. Mulligan VI. What Are the Economic Effects of Lesser-Skilled Immigration on Lesser-Skilled Native Workers? 151 Low-Skill Immigration 152 George J. Borjas Less-Skilled Immigration: Economic Effects and Policy Responses 166 Pia M. Orrenius and Madeline Zavodny VII. Would Cutting the Corporate Tax Rate Significantly Increase Jobs in the US? 179 Would Reducing the US Corporate Tax Rate Increase Employment in the United States? 180 Martin Feldstein Business Tax Reform and the Labor Market 187 Jason Furman and Betsey Stevenson VIII. What Should We Do About Those Americans Who Are Especially Difficult to Employ? 203 Making Work a Priority for Working-Age People with Disabilities 204 Richard V. Burkhauser and Mary C. Daly How to Help the Hard-to-Employ: A Focus on Young Men, Especially the Ex-Incarcerated 221 Timothy M. Smeeding IX. Should We Be Concerned About Income Inequality? 247 Is the Concept of Inequality the Best Way of Thinking About Our Economic Problems? 248 Tyler Cowen Should We Be Concerned About Income Inequality in the United States? 264 Melissa S. Kearney About the Authors 281
Contents Acknowledgments vii Preface ix Michael R. Strain I. Should We Be Concerned About the State of Economic Mobility in the US? 1 How Much Social Mobility? More, but Not Without Other Things 2 Miles Corak What Should Be Done to Increase Intergenerational Mobility in the US? 14 Bhash Mazumder II. Is Productivity the Most Important Determinant of Compensation? 29 Marginally True: The Connection of Pay to Productivity 30 Dean Baker Does Productivity Still Determine Worker Compensation? Domestic and International Evidence 42 Robert Z. Lawrence III. How Can We Build Workers Skills? 63 Is Skill a Topic for Policy? 64 Peter Cappelli Worker Skills and the US Labor Market: What Role Should Policy Play? 77 Harry J. Holzer IV. How Can We Make Work Pay? 95 Supporting Work, Inclusion, and Mass Prosperity 96 Glenn Hubbard What Do We Really Know About the Employment Effects of the Minimum Wage? 106 Justin Wolfers V. Do Public Policies That Reduce the Reward to Work Significantly Diminish Labor Supply? 121 The US Safety Net and Work Incentives: Is There a Problem? What Should Be Done? 122 Robert A. Moffitt The Rise of Employment Taxation 138 Casey B. Mulligan VI. What Are the Economic Effects of Lesser-Skilled Immigration on Lesser-Skilled Native Workers? 151 Low-Skill Immigration 152 George J. Borjas Less-Skilled Immigration: Economic Effects and Policy Responses 166 Pia M. Orrenius and Madeline Zavodny VII. Would Cutting the Corporate Tax Rate Significantly Increase Jobs in the US? 179 Would Reducing the US Corporate Tax Rate Increase Employment in the United States? 180 Martin Feldstein Business Tax Reform and the Labor Market 187 Jason Furman and Betsey Stevenson VIII. What Should We Do About Those Americans Who Are Especially Difficult to Employ? 203 Making Work a Priority for Working-Age People with Disabilities 204 Richard V. Burkhauser and Mary C. Daly How to Help the Hard-to-Employ: A Focus on Young Men, Especially the Ex-Incarcerated 221 Timothy M. Smeeding IX. Should We Be Concerned About Income Inequality? 247 Is the Concept of Inequality the Best Way of Thinking About Our Economic Problems? 248 Tyler Cowen Should We Be Concerned About Income Inequality in the United States? 264 Melissa S. Kearney About the Authors 281
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