National economies are naturally turbulent and ours is no exception. On any given day, companies come and go and jobs are lost and created. But it’s the lost jobs that create a buzz. Evening news reports from folks like Lou Dobbs and others routinely paint a gloomy picture of lost “good” jobs and a middle class shrinking in size and fortune. But, according to three leading labor economists, volatility may not necessarily be a bad thing. Julia Lane, John Haltiwanger, and Clair Brown set out on a rigorous research project to find out what the true effect of all this turbulence is on American jobs and firms. Their conclusions, presented here in Economic Turbulence, will astound many of those who have grown accustomed to the popular view that this cycle of creation and destruction is harmful to the economy.
Read the press release. Read an excerpt from the book.