Redistribution, or subsidies and regulations intended to help the poor, unemployed, and financially distressed, have changed in many ways since the onset of the recent financial crisis. The unemployed, for instance, can collect benefits longer and can receive bonuses, health subsidies, and tax deductions, and millions more people have became eligible for food stamps. Economist Casey B. Mulligan argues that while many of these changes were intended to help people endure economic events and boost the economy, they had the unintended consequence of deepening-if not causing-the recession. By dulling incentives for people to maintain their own living standards, redistribution created employment losses according to age, skill, and family composition. Mulligan explains how elevated tax rates and binding minimum-wage laws reduced labor usage, consumption, and investment, and how they increased labor productivity. He points to entire industries that slashed payrolls while experiencing little or no decline in production or revenue, documenting the disconnect between employment and production that occurred during the recession. The book provides an authoritative, comprehensive economic analysis of the marginal tax rates implicit in public and private sector subsidy programs, and uses quantitative measures of incentives to work and their changes over time since 2007 to illustrate production and employment patterns. It reveals the startling amount of work incentives eroded by the labyrinth of new and existing social safety net program rules, and, using prior results from labor economics and public finance, estimates that the labor market contracted two to three times more than it would have if redistribution policies had remained constant. In The Redistribution Recession, Casey B. Mulligan offers hard evidence to contradict the notion that work incentives suddenly stop mattering during a recession or when interest rates approach zero, and offers groundbreaking interpretations and precise explanations of the interplay between unemployment and financial markets.

The Redistribution Recession: How Labor Market Distortions Contracted the Economy

Mulligan, Casey B.

History

Oxford University Press

The Affordable Care Act will have a dangerous effect on the American economy. That may sound like a political stance, but it’s a conclusion directly borne out by economic forecasts. In Side Effects and Complications, preeminent labor economist Casey B. Mulligan brings to light the dire economic realities that have been lost in the ideological debate over the ACA, and he offers an eye-opening, accessible look at the price American citizens will pay because of it. Looking specifically at the labor market, Mulligan reveals how the costs of health care under the ACA actually create implicit taxes on individuals, and how increased costs to employers will be passed on to their employees. Mulligan shows how, as a result, millions of workers will find themselves in a situation in which full-time work, adjusted for the expense of health care, will actually pay less than part-time work or even not working at all. Analyzing the incentives—or lack thereof—for people to earn more by working more, Mulligan offers projections on how many hours people will work and how productively they will work, as well as how much they will spend in general. Using the powerful tools of economics, he then illustrates the detrimental consequences on overall employment in the near future. Drawing on extensive knowledge of the labor market and the economic theories at its foundation, Side Effects and Complications offers a crucial wake-up call about the risks the ACA poses for the economy. Plainly laying out the true costs of the ACA, Mulligan’s grounded and thorough predictions are something that workers and policy makers cannot afford to ignore.

Side Effects and Complications: The Economic Consequences of Health-Care Reform

Health, Fitness & Dieting

University of Chicago Press

What determines whether children grow up to be rich or poor? Arguing that parental actions are some of the most important sources of wealth inequality, Casey B. Mulligan investigates the transmission of economic status from one generation to the next by constructing an economic model of parental preferences. In Mulligan's model, parents determine the degree of their altruistic concern for their children and spend time with and resources on them accordingly—just as they might make choices about how they spend money. Mulligan tests his model against both old and new evidence on the intergenerational transmission of consumption, earnings, and wealth, including models that emphasize "financial constraints." One major prediction of Mulligan's model confirmed by the evidence is that children of wealthy parents typically spend more than they earn. Mulligan's innovative approach can also help explain other important behavior, such as charitable giving and "corporate loyalty," and will appeal to a wide range of quantitatively oriented social scientists and sociobiologists.

Parental Priorities and Economic Inequality

Business & Money

Economics

What determines whether children grow up to be rich or poor? Arguing that parental actions are some of the most important sources of wealth inequality, Casey B. Mulligan investigates the transmission of economic status from one generation to the next by constructing an economic model of parental preferences. In Mulligan's model, parents determine the degree of their altruistic concern for their children and spend time with and resources on them accordingly—just as they might make choices about how they spend money. Mulligan tests his model against both old and new evidence on the intergenerational transmission of consumption, earnings, and wealth, including models that emphasize "financial constraints." One major prediction of Mulligan's model confirmed by the evidence is that children of wealthy parents typically spend more than they earn. Mulligan's innovative approach can also help explain other important behavior, such as charitable giving and "corporate loyalty," and will appeal to a wide range of quantitatively oriented social scientists and sociobiologists.

An authoritative textbook based on the legendary economics course taught at the University of Chicago
Price theory is a powerful analytical toolkit for measuring, explaining, and predicting human behavior in the marketplace. This incisive textbook provides an essential introduction to the subject, offering a diverse array of practical methods that empower students to learn by doing. Based on Economics 301, the legendary PhD course taught at the University of Chicago, the book emphasizes the importance of applying price theory in order to master its concepts.
Chicago Price Theory features immersive chapter-length examples such as addictive goods, urban-property pricing, the consequences of prohibition, the value of a statistical life, and occupational choice. It looks at human behavior in the aggregate of an industry, region, or demographic group, but also provides models of individuals when they offer insights about the aggregate. The book explains the surprising answers that price theory can provide to practical questions about taxation, education, the housing market, government subsidies, and much more. 
<ul>
<li>Emphasizes the application of price theory, enabling students to learn by doing 
</li>
<li>Features chapter-length examples such as addictive goods, urban-property pricing, the consequences of prohibition, and the value of a statistical life 
</li>
<li>Supported by video lectures taught by Kevin M. Murphy and Gary Becker 
</li>
<li>The video course enables students to learn the theory at home and practice the applications in the classroom 
</li>
</ul>

Chicago Price Theory

Murphy, Kevin M.

Minton, Robert

Jaffe, Sonia

Princeton University Press

Donald J. Trump had essentially zero experience running for office and his candidacy for President of the United States was opposed by many in both parties that dominate American politics. Nevertheless, in 2016 the American people told him "You're hired!". As an insider, scholar, and Chief Economist of the President's Council of Economic Advisers, Casey Mulligan presents riveting first-hand accounts of President Trump's engagement with policy and politics. The struggle between Trump and a ruling class is skillfully presented by revealing business practices that President Trump is using to dismantle and reshape the Federal administrative state. It proves that today's populism has some real substance, but also acknowledges Trump's political incorrectness. You're Hired! brilliantly details the administration's successes and failures alongside the scandals, and accurately portrays the approach and capabilities of our President and our government. You will feel like an insider as you learn how Trump handles auto companies, Senator Bernie Sanders, immigration, international aid, the 2016 election, Twitter, and more that the news media has often failed to report or explain. Rigorous evidence is detailed on assertions that the White House staff is in perpetual chaos which is directly attributable to the President. A fascinating comparison of the similarities and differences between Presidents Reagan and Trump is presented along with topics including Obamacare, Putin, the opioid epidemic, and tariffs. This book highlights the great divides created by the President and his "Make America Great Again" (MAGA) supporters being on one side and a small, unelected, and insulated class who have years of experience running, and reporting on the Federal government being on the other side. Anyone wanting to understand, emulate, or oppose President Trump's "populist" methods will be enthralled by accurate first-hand accounts of how he engages with policy and politics.

You're Hired!: Untold Successes and Failures of a Populist President

Biographies & Memoirs

Leaders & Notable People

Republic Book Publishers

See the best price to sell, buy, or rent books by Mulligan, Casey B.. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Books by Mulligan, Casey B.

See the best price to sell, buy, or rent books by Mulligan, Casey B.. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

The Redistribution Recession: How Labor Market Distortions Contracted the Economy

Side Effects and Complications: The Economic Consequences of Health-Care Reform

Parental Priorities and Economic Inequality

Parental Priorities and Economic Inequality

Chicago Price Theory

You're Hired!: Untold Successes and Failures of a Populist President