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A guided tour of the United States economy : promises among the perils /
Edward L. Whalen.
imprint
Westport, CT : Quorum Books, 2002.
description
xiii, 342 p. : ill.
ISBN
1567204260 (alk. paper)
format(s)
Book
Holdings
More Details
imprint
Westport, CT : Quorum Books, 2002.
isbn
1567204260 (alk. paper)
catalogue key
4627864
 
Includes bibliographical references and index.
A Look Inside
Full Text Reviews
Appeared in Choice on 2002-06-01:
Whalen, a retired academic economist, uses the bulk of the statistical series collected by the US government to compare economic conditions of the US in 1959 with those in 1999. The center of his tour is the Commerce Department's national income and product accounts and their close relatives, but he also visits input-output analysis, the Federal Reserve's flow of funds, and a variety of statistics that the IRS generates. Whalen begins with 1959 because it is the first year in which a consistent time series is available. Though the book occasionally points to intriguing changes in the economy, it will not keep readers on the edges of their seats. Major economic events Whalen examines include the oil embargo of the1970s, Reagonomics of the 1980s, the 1990s stock market boom, growth of the service sector, and changes in sources and uses of personal income. The book's primary value is not as a tour of the US economy but as a tour of US economic statistics and how they are compiled and analyzed. Whalen's detailed explanation of data series and their interrelationships goes far beyond what readers are likely to get in any textbook. Recommended for upper-division undergraduate through professional collections. R. E. Schenk Saint Joseph's College (IN)
Reviews
Review Quotes
'œWhalen's detailed explanation of data series and their interrelationships goes far beyond what readers are likely to get in any textbook. Recommended for upper-division undergraduate through professional collections.'' Choice
This item was reviewed in:
Choice, June 2002
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Summaries
Long Description
If the past is really prologue, as Whalen maintains, the spectacular growth of the U.S. economy over the last 40 years augurs well for continued prosperity over the next 40 years. Whalen investigates the U.S. economy and the trends and events that created an economic output in 1999 that was 2.5 times greater than what it was in 1959. He shows how economic data are gathered, compiled, analyzed, and reported, and he illustrates what national income and output statistics really mean and how they are constructed. Whalen then looks to the future and finds more promise than peril, documenting his reasons authoritatively and convincingly. A fascinating explication of how the U.S. economy works for well-informed readers, this work will be an important resource for students, scholars, and practitioners throughout the public and private sectors. Despite the many challenges along the way, the U.S. economy has performed with spectacular success. Whalen covers the major events that impacted and continue to shape its performance, including: BL Medicare in the 1960s BL OPEC and the oil embargo of the 1970s BL Reagonomics in the 1980s BL the stock market boom of the 1990s BL the rise of women in the labor market BL changes in sources and uses of personal income BL growth of the service sector BL the greater reliance on personal income taxes to finance government expenditures BL the drop in the rate and amount of personal saving He uses economic analysis to show how those and other developments affect the economy. Taking a look at the future including the impact of the Government's social insurance programs and their deficits, Whalen projects what the national economy will look like in 2040. Does he foresee disaster? No, and readers will find the reasoning he uses to reach that conclusion both enlightening and fascinating.
Long Description
If the past is really prologue, as Whalen maintains, the spectacular growth of the U.S. economy over the last 40 years augurs well for continued prosperity over the next 40 years. Whalen investigates the U.S. economy and the trends and events that created an economic output in 1999 that was 2.5 times greater than what it was in 1959. He shows how economic data are gathered, compiled, analyzed, and reported, and he illustrates what national income and output statistics really mean and how they are constructed. Whalen then looks to the future and finds more promise than peril, documenting his reasons authoritatively and convincingly. A fascinating explication of how the U.S. economy works for well-informed readers, this work will be an important resource for students, scholars, and practitioners throughout the public and private sectors. Despite the many challenges along the way, the U.S. economy has performed with spectacular success. Whalen covers the major events that impacted and continue to shape its performance, including: . Medicare in the 1960s . OPEC and the oil embargo of the 1970s . Reagonomics in the 1980s . the stock market boom of the 1990s . the rise of women in the labor market . changes in sources and uses of personal income . growth of the service sector . the greater reliance on personal income taxes to finance government expenditures . the drop in the rate and amount of personal saving He uses economic analysis to show how those and other developments affect the economy. Taking a look at the future including the impact of the Government's social insurance programs and their deficits, Whalen projects what the national economy will look like in 2040. Does he foresee disaster? No, and readers will find the reasoning he uses to reach that conclusion both enlightening and fascinating.
Unpaid Annotation
If the past is really prologue, the spectacular growth of the U.S. economy over the last 40 years promises prosperity over the next 40 years. Whalen investigates the U.S. economy and the trends and events that created an economic output in 1999 that was 2.5 times greater than what it was in 1959. He shows how economic data are gathered, compiled, analyzed, and reported, and he illustrates what national income and output statistics really mean and how they are constructed. Whalen offers convincing evidence and finds more promise than peril for the future. A fascinating explication of how the U.S. economy works for well-informed readers, this work will be an important resource for students, scholars, and practitioners throughout the public and private sectors.
Table of Contents
Preface
The Journey Begins Getting Personal Where Our Money Goes
Personal Income in Space and Time Personal Spending over Time
The Sector We Love to Hate
The Sector We Love to Hate
Us and Them Getting Down to Business Bringing the Sectors Together
A Glance Behind A Look Ahead
Selected Bibliography
Index
Table of Contents provided by Publisher. All Rights Reserved.

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