NOTES TO CHAPTER 19

¹ Peter H. Lindert, Growing Public. Social Spending and Economic Growth Since the Eighteenth Century (New York: Cambridge University Press, 2004).

² Alfred Marshall, Principles of Economics, 8th edn, London: Macmillan, 1962), p.

³ Arthur C. Pigou, The Economics of Welfare (London: Macmillan, 1920); Nahid

Aslanbeigui, ‘‘Rethinking Pigou's Misogyny", Eastern Economic Journal 23:3 (1997), 301—16.

⁴ Bradford De Long, Slouching Toward Utopia, available at http://www.j-bradforddelong. net/TCEH/slouchingtowardutopia.html, accessed July 15, 2008.

⁵ Franklin D. Roosevelt, Second Inaugural Address, January, 1937, accessed on line at http://www.yale.edu/lawweb/avalon/presiden/inaug/froos2.htm, May 27, 2008.

⁶ A. B. Atkinson, ‘‘Economics as a Moral Science”, Inaugural Joseph Rowntree Foun­dation Lecture, University of York, January 2008, available at www.jrf.org.uk.

⁷ John Maynard Keynes, The End of Laissez-Faire (Hogarth Press, 1926), section IV.

⁸ John Maynard Keynes, Essays in Persuasion, first published 1930 (New York: W. W. Norton, 1963), 358-73.

⁹ Friedrich von Hayek, The Road to Serfdom, first published 1944. Text and documents edited by Bruce Caldwell (Chicago: University of Chicago Press, 2007).

¹⁰ Friedrich von Hayek, The Fatal Conceit. The Errors of Socialism (Chicago: University of Chicago Press, 1988).

¹¹ Ayn Rand, The Fountainhead, first published 1943 (New York: Plume, 1993) pp. 715, 717.

¹² Alan Greenspan, The Age of Turbulence. Adventures in a New World (New York: Penguin, 2007), pp. 51-3.

¹³ James M. Buchanan, ‘‘The Samaritan’s Dilemma”, 71—85 in Altruism, Morality, and Economic Theory, Edmund S. Phelps, ed. (New York: Russell Sage, 1975).

¹⁴ Milton Friedman, Essays in Positive Economics (Chicago: University of Chicago, 1953).

¹⁵ See his 1976 Nobel Prize autobiography at http://nobelprize.org/nobel_prizes/economics/ laureates/1976/friedman-autobio.html, accessed May 28, 2008.

¹⁶ Milton Friedman and Anna Jacobson Schwartz, A Monetary History of the United States, 1867—1960. First published, 1953 (Ann Arbor: University of Michigan Press, 1995).

¹⁷ Justin M. Norton, ‘‘Milton Friedman’’, San Francisco Chronicle, November 16, 2006.

¹⁸ See Naomi Klein, The ShoclpDoctrine (New York: Metropolitan, 2007); and Milton Friedman and Rose Friedman, Two Lucky People: Memoirs (Chicago: University of Chicago, 1999).

¹⁹ For details on the Pinochet prosecution, see Human Rights Watch, http://www.hrw.org/ campaigns/chile98/index.html, accessed May 28, 2008; See also the report of the Chilean Truth Commission at

²⁰ Barbara T. Drey fuss, ‘‘The Siren of Santiago’’, Mother Jones (March/April 2005), 18—21.

²¹ Milton Friedman, Capitalism and Freedom (Chicago: University of Chicago Press, 1962) p. 133; ‘‘The Social Responsibility of Business is to Increase its Profits’’, New York Times Magazine, September 30, 1970.

²² John Cassidy, ‘‘The Greed Cycle’’, The New Yorker, September 23, 2002.

²³ I pressed James Buchanan on this issue personally at a public lecture he delivered at the Australian National University in 2004. He stated that he had simply never given the matter much thought.

²⁴ James Buchanan, Cost and Choice (Chicago: University of Chicago Press, 1969). Buchanan won the Nobel Prize in 1986 and the phrase ‘‘economic eunuch” was credited to him by the award committee (see http://www.nobelprize.org/economics/laureates/1986).

²⁵ Theodore W. Schultz, ‘‘Investment in Human Capital”, American Economic Review LI:ι (1961), p. 8.

²⁶ Schultz, ‘‘Investment in Human Capital”, American Economic Review LI:1 (1961), p. 8.

²⁷ Gary S. Becker, Human Capital, 2nd edn.

²⁸ Becker, Human Capital, p. 98.

²⁹ Arleen Leibowitz, ‘‘Home Investments in Children”, in Economics of the Family. Marriage, Children, and Human Capital, T. W. Schultz, ed. (Chicago: University of Chicago Press, 1973). See also Frank Stafford’s published comment on her article in this volume.

³⁰ Kenneth Arrow, ‘‘Models of Job Discrimination’’, in Discrimination in Labor Markets, Orley Ashenfelter and Albert Rees, eds. (Princeton: Princeton University Press, 1973).

³¹ Jacob Mincer, Schooling, Experience, and Earnings (New York: Columbia University Press, 1974).

³² John Kendrick, The Formation and Stocks of Total Capital (Cambridge, MA: National Bureau of Economic Research, 1976), p. 7.

³³ John Kendrick, ‘‘Expanding Imputed Values in the National Income and Product Accounts’’, Review of Income and Wealth 25:4 (1979), 349—63.

³⁴ Robert Eisner, The Total Incomes System of Accounts (Chicago: The University of Chicago Press, 1989).

³⁵ Eisner, The Total Incomes System, p. 16.

³⁶ Dale W. Jorgensen and Barbara M. Fraumeni, ‘‘The Accumulation of Human and Non-Human Capital, 1948—1984’’, 227—82 in R. E. Lipsey and H. S. Tice, eds, The Measure­ment of Savings, Investment and Wealth (Chicago: University of Chicago Press, 1989).

³⁷ Robert H. Haveman, Andrew Bershadker, and Jonathan A. Schwabish, Human Capital in the United States from 1975 to 2000: Patterns of Growth and Utilization (Kalamazoo, MI: Upjohn, 2002).

³⁸ Folbre, Valuing Children: Rethinking the Economics of the Family (Cambridge MA: Harvard University Press, 2008).

³⁹ Paul Samuelson, ‘‘Social Indifference Curves’’, Quarterly Journal of Economics 190 (1956), p. 122.

⁴⁰ Gary S. Becker, ‘‘Altruism in the Family and Selfishness in the Market Place’’, Economica 48:1 (1981), 1—15. See also his Treatise on the Family, enlarged edition (Cambridge: Harvard University Press, 1991).

⁴¹ Frances Woolley,‘‘Getting the Better ofBecker’’, Feminist Economics 2:1 (1996), 114—20.

⁴² Jack Hirschleifer, ‘‘Shakespeare versus Becker on Altruism: The Importance of Having the Last Word’’, Journal of Economic Literature," 11 (1977), 500—502.

⁴³ Becker, Treatise on the Family, p. 193.

⁴⁴ Edith Kuiper, The Most Valuable of All Capital (Amsterdam: Tinbergen Institute, 2001), p. 33.

⁴⁵ Mark Rosenzweig and T. Paul Schultz, ‘‘Market Opportunities, Genetic Endowments, and Intrafamily Resource Distribution”, American Economic Review 72 (1982), 803—15. For an early critique of this approach, see Nancy Folbre, ‘‘Market Opportunities, Genetic Endow­ments, and Intrafamily Resource Distribution: A Comment”, American Economic Review, 74:3 (1984), 518—22. See also Susan Himmelweit et al. ‘‘Decision-Making in Households”, Ch. 6 in Households (The Open University, Social Sciences Third Level Course, 1998).

⁴⁶ Robert Barro, ‘‘Are Government Bonds Net Wealth?” Journal of Political Economy 82 (1974)^, ι⁰95-117.

⁴⁷ For a textbook summary, see William Lord, Household Dynamics (New York: Oxford University Press, 2002).

⁴⁸ Jacob Mincer, ‘‘The Labor Force Participation of Married Women”, in H. G. Lewis, ed., Aspects of Labor Economics (Princeton: Princeton University Press, 1962); Reuben Gronau, ‘‘Leisure, Home Production and Work: The Theory of the Allocation of Time Revisited”, Journal of Political Economy 85:6 (1977), 1099—123.

⁴⁹ Solomon Polachek, ‘‘Occupational Self-Selection: A Human Capital Approach to Sex Differences in Occupational Structure”, Review of Economics and Statistics 63:1 (1981), 60—9; For a critique, see Paula England, ‘‘The Failure of Human Capital Theory to Explain Occupational Sex Segregation”, Journal of Human Resources 17:3 (1982), 358—70.

⁵⁰ Gary S. Becker, ‘‘A Theory of Competition among Pressure Groups for Political Influence”, The Quarterly Journal of Economics 98 (1983), 371—400.

⁵¹ For a spirited critique, see Barbara Bergmann, ‘‘Becker’s Theory of the Family: Preposterous Conclusions’’, Feminist Economics 1:1 (1995), 141—50. Similar criticisms apply to Richard Posner’s Sex and Reason (Cambridge: Harvard University Press, 1992).

⁵² Gary S. Becker, Accounting for Tastes (Cambridge: Harvard University Press, 1996), p. 226.

⁵³ Warren Farrell, Why Men Earn More (New York: AMACOM, 2005).

⁵⁴ Victor Fuchs, Women's Quest for Economic Equality (Cambridge: Harvard University Press, 1988).

⁵⁵ M. Luisa Ferreira, Reuben C. Buse, and Jan-Paul Chavas, ‘‘Is There a Bias in Com­puting Household Equivalence Scales,’’ Review of Income and Wealth 44 (1998), 183—98. For a detailed critique, see Hilde Bojer and Julie Nelson, ‘‘Equivalence Scales and the Welfare of Children: A Comment on, ‘Is There Bias in the Economic Literature on Equivalence Scales,’ ’’ Review of Income and Wealth 45 (1999), 531—4.