This chapter shows what would have happened to work hours per capita if redistribution had remained constant: their decline would have half, or less, than it actually was. Based on the evidence presented in previous chapters, it concludes that incentives still matter in the post-2007 labor market, that there were mutual feedback effects between financial markets and the social safety net. The chapter also refutes the claim that supply-induced recessions should be characterized as pleasant experiences for the unemployed, and explains why the safety net must be examined in its entirety.
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