Why did the War on Poverty give way to the war on welfare? Many in the United States saw the welfare reforms of 1996 as the inevitable result of twelve years of conservative retrenchment in American social policy, but there is evidence that the seeds of this change were sown long before the...

This paper identifies a new reason for giving preferences to the disadvantaged using a model of contests. There are two forces at work: the effort effect working against giving preferences and the selection effect working for them. When education is costly and easy to obtain (as in the U.S.),...

"Why did America embrace consumer credit over the course of the twentieth century, when most other countries did not? How did American policy makers by the late twentieth century come to believe that more credit would make even poor families better off? This book traces the historical emergence...