Catherwood LibraryILR School

Alan B. Krueger, Robert M. Solow, editors

"The positive social benefits of low unemployment are many--it helps to reduce poverty and crime and fosters more stable families and communities. Yet conventional wisdom--born of the stagflation of the 1970s--holds that sustained low unemployment rates run the risk of triggering inflation. The last five years of the 1990s--in which unemployment plummeted and inflation remained low--called this conventional wisdom into question. The Roaring Nineties provides a thorough review of the exceptional economic performance of the late 1990s and asks whether the new economy has somehow wrought a lasting change in the inflation-safe rate of unemployment." [from the dust jacket]