If there was any question before, there is no longer a question today: inequality, discrimination, poverty, and mobility are prominent national issues. The notion of "The American Dream" has been sold to generations of young Americans as the idea that working hard and following your dreams will allow you to break through any barriers in your path and inevitably lead to success. However, recent findings on inequality, discrimination, poverty, and mobility show that "The American Reality" is very different.
The third edition of this introductory-level text has been completely revised to bring students up to date with current economic thinking on these issues. With an emphasis on data, theory, and policy, this book tackles each issue by exploring three key questions in each chapter: What does the data tell us about what has been happening to the American economy? What are the economic theories needed to understand what has been happening? What are the policy ideas and controversies associated with these economic problems?
Key controversies are highlighted in each chapter to drive classroom discussion, and end-of-chapter questions develop student understanding. The book will also be accompanied by digital supplements in the form of PowerPoint slides for each chapter. This clearly written text is ideally suited to a wide variety of courses on contemporary economic conditions, inequality, and social economics in the United States.
Part I: Inequality 1. Inequality and the American Dream 2. Measuring Inequality Part II: The Factor Markets 3. Demand and Supply in the Labor Market 4. Behind the Demand and Supply Curves 5. Unemployment and Inequality 6. Immigration and Inequality 7. Labor Unions and Inequality 8. The Markets for Capital, Land, and Entrepreneurship 9. The Economics and Philosophy of Equality and Inequality 10. The Minimum Wage 11. The Economics of Exceptionally High Earners Part III: Education and Training 12. The Economics of Higher Education 13. The Economics of Intragenerational Mobility 14. Early Childhood Education 15. Elementary and Secondary Education Part IV: Taxes and Transfers 16. Income Taxes and Inequality 17. Wealth Taxes and Inequality 18. The Safety Net Part V: Discrimination and Disparity 19. The Economics of Discrimination 20. The Laws Against Discrimination Part VI: Social Problems 21. Family Policy and Inequality 22. Health and Health Inequality 23. Housing and Neighborhoods 24. Poverty 25. Intergenerational Mobility 26. Concluding Thoughts
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