For more than thirty years, students, scholars, and policymakers have relied on successive editions of Sar A. Levitan's Programs in Aid of the Poor. Now, in conjunction with the eighth edition of that classic work, coauthors Garth Mangum, Stephen Mangum, and Andrew Sum offer a brief but comprehensive overview of the facts of poverty in the United States, its underlying causes, and the reasons for its persistence in the richest nation in the world. Providing a wealth of data and cogent analysis, this book can be used along with Programs for additional background, or can stand on its own. "This volume demonstrates more starkly than its parent the persistence of poverty in this nation. Though some individuals and families manage to escape it, the phenomenon diminishes not at all—or at least very little . . . Having been sobered by this thought, the student may ponder what more might conceivably be done to reduce the incidence of that endemic economic and social disease."—from the Preface
First published in 1986. Since the late 1960s the seeming inability of traditional monetary and fiscal policies to combat " stagflation" and address other macroeconomic issues has accelerated the erosion of confidence in the prevailing economic paradigm , the " neoclassical synthesis." * Dissensions among the members of the economics profession on both sides of the Atlantic have grown in number. By the 1970s, a majority of economists had recognized a " crisis" in economic theory. Parallel to this development, a crisis has also emerged in the Marxian camp. This volume is a discussion from the various schools of thought around three of the salient common grounds follows: the theory of a monetary economy, the disequilibrium foundations of a general equilibrium theory, and a rekindled interest in institutional factors.
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