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Since 1988, The State of Working America has provided a comprehensive answer to a question newly in vogue in this age of Occupy Wall Street: To what extent has overall economic growth translated into rising living standards for the vast majority of American workers and their families? In the 12th edition, Lawrence Mishel, Josh Bivens, Elise Gould, and Heidi Shierholz analyze a trove of data on income, jobs, mobility, poverty, wages, and wealth to demonstrate that rising economic inequality over the past three decades has decoupled overall economic growth from growth in the living standards of the vast majority.
The new edition of The State of Working America also expands on this analysis of American living standards, most notably by placing the Great Recession in historical context. The severe economic downturn that began in December 2007 came on the heels of a historically weak recovery following the 2001 recession, a recovery that saw many measures of living standards stagnate. The authors view the past decade as "lost" in terms of living standards growth, and warn that millions of American households face another decade of lost opportunity.
Especially troubling, the authors stress, is that while overall economic performance in the decades before the Great Recession was more than sufficient to broadly raise living standards, broad-based growth was blocked by rising inequality driven largely by policy choices. A determinedly data-driven narrative, The State of Working America remains the most comprehensive resource about the economic experience of working Americans.
- Sales Rank: #1061845 in eBooks
- Published on: 2012-12-18
- Released on: 2012-12-18
- Format: Kindle eBook
From Booklist
The twelfth edition of this annual work is filled with information that will satisfy both ready-reference and in-depth research needs. Tables and charts cover American income, jobs, mobility, poverty, and wealth; while narrative content offers analysis and context. It’s not completely without bias—the narrative is contributed by affiliates of the Economic Policy Institute (which offers a liberal viewpoint on economic issues)—but the statistics and data know no politics, making this a good choice for most public libraries needing current information on the state of the economy and the middle class. --Rebecca Vnuk
Review
"This timely, useful publication organizes and elucidates enormous amounts of data important to assessing how well 'the American economy worked to provide acceptable growth to living standards for most households. . . .' Like earlier editions, this valuable compendium of evidence from academic journals and a notable array of government data series offers a predictably sobering assessment of living standards for most households, but the narrative is accompanied by adroit presentations that meticulously document source data. . . . Highly recommended."―J. Gray, Choice (July 2013)
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". . . one of the great values of this resource is that the numbers show clearly not only the ways in which neoliberal politicians have failed to raise the standard of living for most people, but also how neoclassical economics itself is deeply flawed. . . . The State of Working America is particularly valuable because the authors give you access to the data they use: you can download most of that from their website, and they provide an extensive methodological section. But the authors do not just show you data: they give you their analysis, putting the trends into context."―Stephanie Luce, Against the Current (September/October 2013)
About the Author
Lawrence Mishel is the president of the Economic Policy Institute and its research director from 1987 to 1999. He is the coauthor of every edition of The State of Working America.
Josh Bivens has been an economist at the Economic Policy Institute since 2002. He is the author of Failure by Design: The Story behind America's Broken Economy and coauthor of The State of Working America, 12th Edition, both from Cornell.
Elise Gould is Director of Health Policy Research at the Economic Policy Institute.
Heidi Shierholz is an economist at the Economic Policy Institute and coauthor of The State of Working America, 2008/2009 and The State of Working America, 12th Edition, both from Cornell.
Most helpful customer reviews
3 of 3 people found the following review helpful.
'Third-Party' candidate manifesto
By Hans G. Despain
This book is an invaluable resource. It is the Sergeant Friday approach to economic trends, namely "just the facts, please." There is plenty of commentary, but it tends to be descriptive, rather than political or prescriptive (there is a remarkable exception to this tradition in the 12th edition, for example see pages 43 - 7).
The Economic Policy Institute has been publishing this report for over two decades every other year. They did not offer a printed copy in the last edition, but an electronic version only. It is nice to have it back in printed form.
This is not really a book to be read from cover to cover. It is a collection of statistics, tables and charts on trends in the U.S. with respect to inequality, wages, incomes, hours worked, employment, wealth, poverty, taxes, etc.
Regular readers of "The State of Working America" were not surprised by the financial collapse of 2007-8, the trends in inequality, wages, incomes, etc. were well aware of underlining hardship and the negative economic indicators in the American economy. Thus, even in absence of any detail of the financial sector, the statistics gathered here indicated deep seated problems for the U.S. economy. This indicators, generally, are still getting worse after the crisis. This does not bode well for any sense of "economic recovery."
The book is divided into 7 chapters. Each chapter has plenty of commentary, but the real strength is the data, statistics, table and charts capturing the trends in: (1) inequality, (2) income, (3) mobility (intragenerational and intergenerational), (4) wages, (5) employment, unemployment and industrial organization (i.e. firm size and occupational trends), (6) wealth (including both assets and liabilities such as credit and bankruptcy), finally (7) poverty.
As usually the work in this 12th edition is of remarkable high quality. Once again this book will be informing all the courses I teach in economics and will be the primary source for data in my labor economics course.
It is powerful data that should be reviewed and studied by every American. This book should become the manifesto for all "third-party" political candidates.
3 of 3 people found the following review helpful.
Best in the field
By Raymond Hogler
This has become the standard text on working conditions in America. It covers all aspects of employment in depth and is the best contemporary source of economic data.
2 of 2 people found the following review helpful.
Very good. I forget when I first became aware of ...
By Jerry L Marsh
Very good. I forget when I first became aware of the Economic Policy Institute and its work, but since then and I pay regular attention. While this book is good, the website is even better, epi.org.
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