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I was so pleased to learn of my AEI colleague Ed Glaeser's election to the National Academy of Sciences. Dr. Glaeser is one of the world's leading economists, having made seminal contributions to our understanding of economic growth and law and economics.
The post Glaeser Elected to National Academy of Sciences appeared first on American Enterprise Institute - AEI.

Populists on both sides of the political aisle routinely announce that the American Dream is dead. According to them, the game has been rigged by elites, workers can & ;t get ahead, wages have been stagnant for decades, and the middle class is dying. Populists on both sides of the political aisle routinely announce that the American Dream is dead. According to them, the game has been rigged by elites, workers can & ;t get ahead, wages have been stagnant for decades, and the middle class is dying. Michael R. Strain, director of economic policy studies at the American Enterprise Institute, disputes this rhetoric as both wrong and dangerous. In this succinctly argued volume, he shows that, on measures of economic opportunity and quality of life, there has never been a better time to be alive in America. He backs his argument with overwhelming & ;and underreported & ;data to show how the facts favor realistic optimism

Is economic liberty necessary for individuals to lead truly flourishing lives? Whether your immediate answer is yes or no, this question is deceptively simple. What do we mean by liberty? What constitutes the flourishing life? How are these related? How is economic liberty related to other goods that affect human flourishing? To answer these questions-and more-this volume brings to bear some of history's greatest thinkers, interpreted by some of today's leading scholars of their thought.

AbstractPopular discussion presumes minimum wage increases primarily drive wage gains for minimum wage workers. We investigate this presumption using the Current Population Survey to assess the fraction of minimum wage workers receiving raises after 12 months. This fraction is moderately higher following state minimum wage increases, and positively correlated with several measures of labor market tightness. Finally, wage gains frequently follow industry and/or occupation switches, highlighting the importance of career progression for earnings growth among entry‐level workers. Career progression and increases in labor demand rather than minimum wage increases appear to drive most wage gains for minimum wage workers.

AbstractWe test whether the economic effects of globalization change the social and political attitudes of white Americans. Specifically, we examine the effect of a local labor market's exposure to import competition brought about by the rapid changes in the Chinese economy from 1990 to 2007 on perceptions of immigrants, minorities, religion and guns. We do not find meaningful changes in aggregate attitudes. Instead, using detailed information from the General Social Survey, we find evidence of significant hardening of existing attitudes or "clinging" to long‐standing beliefs.

This paper presents early evidence on the employment effects of state minimum wage increases enacted between January 2013 and January 2015. As of 2015, we estimate that relatively large minimum wage increases (defined as those exceeding $1) reduced employment among low‐skilled population groups by just over 1 percentage point. Smaller minimum wage increases, as well as increases linked to inflation indexation provisions, appear to have had much smaller (and possibly positive) effects on employment over our sample period. The estimates thus raise the potential importance of nonlinearities in the minimum wage's effects, which are consistent with standard models of the labor market. (JEL H11, J08, J23)