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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/