NOTE: see Chapter 12 for responses to Covid

Chapter 2: Political theory

Caldwell, Bruce (2020). ‘The Road to Serfdom after 75 Years,’ Journal of Economic Literature, 58 (3): 720-48.DOI: 10.1257/jel.20191542

 

Chapter 5: Distribution

On happiness, see

Blanchflower, David G., and Andrew J. Oswald. 2019. "Unhappiness and Pain in Modern America: A Review Essay, and Further Evidence, on Carol Graham's Happiness for All?" Journal of Economic Literature, 57 (2): 385-402. DOI: 10.1257/jel.20171492

In Happiness for All? Unequal Hopes and Lives in the Pursuit of the American Dream, Carol Graham raises disquieting ideas about today's United States. The challenge she puts forward is an important one. Here we review the intellectual case and offer additional evidence. We conclude broadly on the author's side. Strikingly, Americans appear to be in greater pain than citizens of other countries, and most subgroups of citizens have downwardly trended happiness levels. There is, however, one bright side to an otherwise dark story. The happiness of black Americans has risen strongly since the 1970s. It is now almost equal to that of white Americans.

 

Chapter 8: Poverty relief

On poverty in the USA over time, including US debates, see

Macnicol, John (2020), Poverty and Dependency: America, 1950s to the Present, Edward Elgar

 

On targeting, see

Armand, Alex, Attanasio, Orazio, Carneiro, Pedro, and Lechene, Pedro (2020), ‘The Effect of Gender-Targeted Conditional Cash Transfers on Household Expenditures: Evidence from a Randomized Experiment’, The Economic Journal, Vol. 130, Issue 631, October, pp. 1875–1897, https://doi.org/10.1093/ej/ueaa056

 

Chapter 9: Health and health care

On health and economic development, see

Bloom, David E, Kuhn, Michael, and Prettner, Klaus (2020), ‘The contribution of female health to economic development’, Economic Journal, Vol. 130, Issue 630, August, pp. 1650–1677, https://doi.org/10.1093/ej/ueaa061

 

Chapter 10: School education

On the gains from early child interventions, see

Cattan, Sarah, Conti, Gabriella, Farquharson, Christine and Ginja, Rita (2020), ‘The health effects of Sure Start’, https://www.ifs.org.uk/publications/14139?mc_cid=f585e81bee&mc_eid=b261eb2c02

 

Chapter 11: Tertiary education

For an overview of work on student loans, see

Avery, Christopher. 2019. "Review of Books on Student Loans." Journal of Economic Literature, 57 (2): 403-33. DOI: 10.1257/jel.20181469

 

On access to postgraduate degrees, see

Britton, Jack and van der Erve, Laura (2020), ‘Family background and access to postgraduate degrees’, London: Institute for Fiscal Studies, Briefing note, https://www.ifs.org.uk/uploads/Family-background-and-access-to-postgraduate-degrees__.pdf

 

Chapter 12: Conclusion

On the future of capitalism

Bowles, Samuel, and Carlin, Wendy (2020), ‘Shrinking Capitalism.’ AEA Papers and Proceedings, 110: 372-77.DOI: 10.1257/pandp.20201001

Zingales, Luigi (2020), ‘The Political Limits of Economics,’ AEA Papers and Proceedings, 110: 378-82.DOI: 10.1257/pandp.20201002

‘How compatible are democracy and capitalism?’, The Economist, 1 June 2019, https://www.economist.com/finance-and-economics/2019/06/13/how-compatible-are-democracy-and-capitalism

 

On the state as insurer of last resort

Velasco, Andrés (2020), ‘Are we all Keyesians again?’, Project Syndicate 23 August, https://www.project-syndicate.org/commentary/states-must-be-insurer-of-last-resort-against-aggregate-risks-by-andres-velasco-2020-08?barrier=accesspaylog

 

On ‘welfare state 3.0’

Acemoglu, Daron (2020), ‘The Post-COVID State’, Project Syndicate, 5 June, https://www.project-syndicate.org/onpoint/four-possible-trajectories-after-covid19-daron-acemoglu-2020-06?

 

On responses to Covid

Elliot Major, Lee and Machin, Stephen (2020), What Do We Know and What Should We Do About Social Mobility?, Sage

On major structural reform of social policy in response to the Covic-19 pandemic. See CEP Covid Series 200925 in res\MISC\Coronavirus\20gen\Articles

Nicholas Barr and Howard Glennerster (2020), ‘Life after COVID-19: start planning now’, LSE Covid-19, 29 May, https://blogs.lse.ac.uk/covid19/2020/05/29/nicholas-barr-howard-glennerster-life-after-covid-19-start-planning-now/