The Economics of World War I


Book Description

This unique volume offers a definitive new history of European economies at war from 1914 to 1918. It studies how European economies mobilised for war, how existing economic institutions stood up under the strain, how economic development influenced outcomes and how wartime experience influenced post-war economic growth. Leading international experts provide the first systematic comparison of economies at war between 1914 and 1918 based on the best available data for Britain, Germany, France, Russia, the USA, Italy, Turkey, Austria-Hungary and the Netherlands. The editors' overview draws some stark lessons about the role of economic development, the importance of markets and the damage done by nationalism and protectionism. A companion volume to the acclaimed The Economics of World War II, this is a major contribution to our understanding of total war.







The GI Bill


Book Description

On rare occasions in American history, Congress enacts a measure so astute, so far-reaching, so revolutionary, it enters the language as a metaphor. The Marshall Plan comes to mind, as does the Civil Rights Act. But perhaps none resonates in the American imagination like the G.I. Bill. In a brilliant addition to Oxford's acclaimed Pivotal Moments in American History series, historians Glenn C. Altschuler and Stuart M. Blumin offer a compelling and often surprising account of the G.I. Bill and its sweeping and decisive impact on American life. Formally known as the Serviceman's Readjustment Act of 1944, it was far from an obvious, straightforward piece of legislation, but resulted from tense political maneuvering and complex negotiations. As Altschuler and Blumin show, an unlikely coalition emerged to shape and pass the bill, bringing together both New Deal Democrats and conservatives who had vehemently opposed Roosevelt's social-welfare agenda. For the first time in American history returning soldiers were not only supported, but enabled to pursue success--a revolution in America's policy towards its veterans. Once enacted, the G.I. Bill had far-reaching consequences. By providing job training, unemployment compensation, housing loans, and tuition assistance, it allowed millions of Americans to fulfill long-held dreams of social mobility, reshaping the national landscape. The huge influx of veterans and federal money transformed the modern university and the surge in single home ownership vastly expanded America's suburbs. Perhaps most important, as Peter Drucker noted, the G.I. Bill "signaled the shift to the knowledge society." The authors highlight unusual or unexpected features of the law--its color blindness, the frankly sexist thinking behind it, and its consequent influence on race and gender relations. Not least important, Altschuler and Blumin illuminate its role in individual lives whose stories they weave into this thoughtful account. Written with insight and narrative verve by two leading historians, The G.I. Bill makes a major contribution to the scholarship of postwar America.




Optimal Unemployment Insurance


Book Description

Designing a good unemployment insurance scheme is a delicate matter. In a system with no or little insurance, households may be subject to a high income risk, whereas excessively generous unemployment insurance systems are known to lead to high unemployment rates and are costly both from a fiscal perspective and for society as a whole. Andreas Pollak investigates what an optimal unemployment insurance system would look like, i.e. a system that constitutes the best possible compromise between income security and incentives to work. Using theoretical economic models and complex numerical simulations, he studies the effects of benefit levels and payment durations on unemployment and welfare. As the models allow for considerable heterogeneity of households, including a history-dependent labor productivity, it is possible to analyze how certain policies affect individuals in a specific age, wealth or skill group. The most important aspect of an unemployment insurance system turns out to be the benefits paid to the long-term unemployed. If this parameter is chosen too high, a large number of households may get caught in a long spell of unemployment with little chance of finding work again. Based on the predictions in these models, the so-called "Hartz IV" labor market reform recently adopted in Germany should have highly favorable effects on the unemployment rates and welfare in the long run.







Out of Work


Book Description

Argues the cause of unemployment may be the government itself Redefining the way we think about unemployment in America today, Out of Work offers devastating evidence that the major cause of high unemployment in the United States is the government itself.




A Consumers' Republic


Book Description

In this signal work of history, Bancroft Prize winner and Pulitzer Prize finalist Lizabeth Cohen shows how the pursuit of prosperity after World War II fueled our pervasive consumer mentality and transformed American life. Trumpeted as a means to promote the general welfare, mass consumption quickly outgrew its economic objectives and became synonymous with patriotism, social equality, and the American Dream. Material goods came to embody the promise of America, and the power of consumers to purchase everything from vacuum cleaners to convertibles gave rise to the power of citizens to purchase political influence and effect social change. Yet despite undeniable successes and unprecedented affluence, mass consumption also fostered economic inequality and the fracturing of society along gender, class, and racial lines. In charting the complex legacy of our “Consumers’ Republic” Lizabeth Cohen has written a bold, encompassing, and profoundly influential book.




The G.I. Bill


Book Description

Scholars have argued about U.S. state development - in particular its laggard social policy and weak institutional capacity - for generations. Neo-institutionalism has informed and enriched these debates, but, as yet, no scholar has reckoned with a very successful and sweeping social policy designed by the federal government: the Servicemen's Readjustment Act of 1944, more popularly known as the GI Bill. Kathleen J. Frydl addresses the GI Bill in the first study based on systematic and comprehensive use of the records of the Veterans Administration. Frydl's research situates the Bill squarely in debates about institutional development, social policy and citizenship, and political legitimacy. It demonstrates the multiple ways in which the GI Bill advanced federal power and social policy, and, at the very same time, limited its extent and its effects.







Unemployment Compensation Act of 1945


Book Description