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This revised edition of Applied Economics is about fifty percent larger than the first edition. It now includes a chapter on the economics of immigration and new sections of other chapters on such topics as the “creative” financing of home-buying that led to the current “subprime” mortgage crisis, the economics of organ transplants, and the political and economic incentives that lead to money earmarked for highways being diverted to mass
..."[Cass's] core principle—a culture of respect for work of all kinds—can help close the gap dividing the two Americas...." – William A. Galston, The Brookings Institution
The American worker is in crisis. Wages have stagnated for more than a generation. Reliance on welfare programs has surged. Life expectancy is falling as substance abuse and obesity rates climb.
These woes are not the inevitable result of irresistible
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