Consequences of Economic Downturn Beyond the

This book investigates three sets of questions raised by the economic downturn, corresponding to the three sections of the book. The first concerns issues of ethics and social responsibility in economic policymaking and in business and finance; how the costs of the downturn have fallen within the population -- in terms of lost incomes, lost jobs, declining wealth, unmanageable debt burdens, reductions in spending on necessities, lost homes, and other problems of insecurity and financial distress; and lastly: concerns the rise of unmet basic needs '- for food, shelter and health care -- during the downturn.

Martha A. Starr is Associate Professor of Economics at American University. Previously she was a senior economist at the Federal Reserve Board of Governors. Starr is co-editor of the Review of Social Economy and President-Elect of the Association for Social Economics. Her research interests include consumption, saving, wealth, macroeconomics, monetary policy, socially responsible consumption and investment, and social economics.

List of contributors * Beyond the usual economics, Martha A. Starr * Part I. Ethics, Social Responsibility, and Economic Policy * The Economic Crisis and the Crisis in Economics
George DeMartino * The Financial Crash of 2008: An Illustrative Instance of the Separation of Risk from Reward in American Capitalism Robert E. Prasch * Rising Inequality and the Financial Crises of 1929 and 2008 Jon D. Wisman and Barton Baker * Inequality and its Discontents: The Real Causes and Consequences of the Crisis Steven Pressman * We’ve Been Nudged: The Effects of the Downturn on Dignity and Responsibility Mark D. White * Part II. Distributional Effects of the Downturn * Race and Recession: A Comparison of the Economic Impact of the 1980s and 2007-09 Recessions on Non-College Educated Black and White Men * Niki Dickerson VonLockette * Who pays the price when housing bubbles burst? Evidence from the American Community Survey Cynthia Bansak and Martha Starr * Gender Equality in U.S. Labor Markets in the “Great Recession” of 2007-10
Caren Grown and Emcet Tas * Part III. Social Economy and the Economic Downturn: Communities, Needs and Capabilities * Recession and the social economy Martha A. Starr * Beyond the Wasteland: A Report from Detroit Bruce Pietrykowski * Teaching Financial Literacy in the Wake of the Financial Crisis Deborah M. Figart

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Consequences of Economic Downturn Beyond the Usual Economics

Summary

Author Biography

Table of Contents

Supplemental Materials