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Economic TurbulenceIs a Volatile Economy Good for America?$
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Clair Brown, John Haltiwanger, and Julia Lane

Print publication date: 2006

Print ISBN-13: 9780226076324

Published to Chicago Scholarship Online: February 2013

DOI: 10.7208/chicago/9780226076348.001.0001

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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2018. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use (for details see www.chicago.universitypressscholarship.com/page/privacy-policy).date: 14 December 2018

Overview of the Book

Overview of the Book

Chapter:
(p.1) Chapter One Overview of the Book
Source:
Economic Turbulence
Author(s):

Clair Brown

Publisher:
University of Chicago Press
DOI:10.7208/chicago/9780226076348.003.0001

This book uses new information to go beyond anecdotes and establish some facts about economic turbulence and its impact on things that people, and their politicians, worry about: firm survival, worker job ladders and career paths, and the future of middle-class incomes. It also considers five industries that are familiar to all Americans: semiconductors, software, financial services, retail food, and trucking. Turbulence is the entire process of economic change: worker reallocation as workers change jobs and job reallocation from firms contracting and shutting down, to firms expanding and starting up. The effect of economic turbulence on firms and job ladders is described. The proportion of high-income jobs increased substantially in high-skilled industries, contrary to fears about the impact of globalization on high-skilled workers. In the retail food and trucking industries, there are fewer high-income workers. An overview of the chapters included in the book is provided.

Keywords:   economic turbulence, firm survival, worker job ladders, career paths, semiconductors, software, financial services, retail food, trucking

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