Macroeconomics tries to describe and explain the economywide movement of prices, output, and unemployment. The field has been sharply divided among various schools, including Keynesian, monetarist, new classical, and others. It has also been split between theorists and empiricists. Ray Fair is a resolute empiricist, developing and refining methods for testing theories and models. The field cannot advance without the discipline of testing how well the models approximate the data. Using a multicountry econometric model, he examines several important questions, including what causes inflation, how monetary authorities behave and what are their stabilization limits, how large is the wealth effect on aggregate consumption, whether European monetary policy has been too restrictive, and how large are the stabilization costs to Europe of adopting the euro. He finds, among other things, little evidence for the rational expectations hypothesis and for the so-called non-accelerating inflation rate of unemployment (NAIRU) hypothesis. He also shows that the U.S. economy in the last half of the 1990s was not a new age economy.
Hoosier history overflows with bold visionaries, noble heroes and lovable rogues. May Wright Sewall struggled to uplift womankind and unflinchingly called for peace in a world sleepwalking toward conflict. In the guise of Abe Martin, Kin Hubbard graced the Indianapolis News's back page for twenty-six years with folksy humor. Combat photographer John A. Bushemi bravely faced the terrors of war and perished capturing its violence. Audacious automotive pioneer Carl G. Fisher went to any length to promote himself, even flying a car via a hot-air balloon. Drawing on more than thirty years of experience, author Ray E. Boomhower, the dean of Hoosier biographers, brings together forty of the most notable figures from the nineteenth state.
During the 1940s and 1950s, one name, John Bartlow Martin, dominated the pages of the "big slicks," the Saturday Evening Post, LIFE, Harper's, Look, and Collier's. A former reporter for the Indianapolis Times, Martin was one of a handful of freelance writers able to survive solely on this writing. Over a career that spanned nearly fifty years, his peers lauded him as "the best living reporter," the "ablest crime reporter in America," and "one of America's premier seekers of fact." His deep and abiding concern for the working class, perhaps a result of his upbringing, set him apart from other reporters. Martin was a key speechwriter and adviser to the presidential campaigns of many prominent Democrats from 1950 into the 1970s, including those of Adlai Stevenson, John F. Kennedy, Lyndon B. Johnson, Robert F. Kennedy, Hubert Humphrey, and George McGovern. He served as U.S. ambassador to the Dominican Republic during the Kennedy administration and earned a small measure of fame when FCC Chairman Newton Minow introduced his description of television as "a vast wasteland" into the nation's vocabulary.
Marshall's message is a modern version of Adam Smith's insistence that the wealth of nations is based on the contributions of those who work. Management and unions have come to recognize that this is crucial for the competitive survival of the firm. In rich detail, Marshall shows how at every level--from export expansion to monetary reform and from high-tech investment to human resource development--policies are failing because those most directly involved in the results are not consulted. He believes that in an increasingly international world where competitive survival depends significantly on government and corporate policies, the voice of labor must be heard. ISBN 0-465-08869-4: $19.95.
The populations of American cities have always included poor people, but the predicament of the urban poor has worsened over time. Their social capital, that is, the connections and organizations that traditionally enabled them to form communities, has shredded. Economically comfortable Americans have come to increasingly care less about the plight of the urban poor and to think of them in terms of “us and them.” Considered lazy paupers in the early nineteenth century, the urban poor came to be seen as a violent criminal “underclass” by the end of the twentieth. Living primarily in the nation’s deindustrialized inner cities and making up nearly 15 percent of the population, today’s urban poor are oppressed people living in the midst of American affluence. This book examines how law works for, against, and with regard to the urban poor, with “law” being understood broadly to include not only laws but also legal proceedings and institutions. Law is too complicated and variable to be seen as simply a club used to beat down the urban poor, but it does work largely in negative ways for them. An essential text for both law students and those drawn to areas of social justice, Containment and Condemnation shows how law helps create, expand, and perpetuate contemporary urban poverty.
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