Summary Spring 1999

In a new Policy Note summarized in this issue, Senior Scholar L. Randall Wray describes three threats to the current “Goldilocks” economy: global financial crisis, global deflation and excess demand, and a domestic surplus coupled with record private deficits.

Contents: The Minimum Wage in Historical Perspective · Constructing Long and Dense Times-Series of Inequality Using the Theil Statistic · Women’s Work? School Teaching across American Regions · Is Keynesianism Institutionalist? · Government Spending and Growth Cycles · Distributional Effects of Disinflationary Monetary Policy · President Clinton’s Proposed Social Security Reform · How Negative Can US Saving Get? · From Common Market to EMU