Economic Turbulence: Is a Volatile Economy Good for America?
University of Chicago Press, Sep 15, 2008 - Business & Economics - 212 pages
Every day, in every sector of our economy, a business shuts down while another starts up, jobs are created while others are cut, and workers are hired while others are laid off. This constant flux, or turbulence, is a defining characteristic of our free market system, yet it mostly inspires angst about unemployment, loss of earnings, and the overall competitiveness of corporations. But is this endless cycle of fluctuation really so bad for America? Might something positive be going on in the economy as a result of it?
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What Who and How Much?
3 The Industries
4 Firms Their Workers and Their Survival
5 Firm Turbulence and Job Ladders
6 Turbulence and Worker Career Paths
7 Economic Turbulence and MiddleIncome Jobs
8 Conclusions and Implications for Policy