Notes
1 Board of Governors of the Federal Reserve, Report on the Economic Well-Being of U.S. Households in 2015, May 2016.
2 Bob Sullivan, State of Credit: 2017, Experian, January 11, 2018.
3 American Psychological Association, Stress in America: Paying With Our Health, February 4, 2015.
4 Carrie Leana and Jirs Meuris, “Living to Work and Working to Live: Income as a Driver of Organizational Behavior,” Academy of Management Annals, vol. 9, no. 1, 2015.
5 Carrie Leana, Vikas Mittal, and Emily Stiehl, “Organizational Behavior and the Working Poor,” Organization Science, vol. 23, no. 3, 2012.
6 PwC, 2018 Employee Financial Wellness Survey, May 2018.
7 Mercer, Inside Employees’ Minds: Financial Wellness, 2017.
8 Sendhil Mullainathan and Eldar Shafir, Scarcity: Why Having Too Little Means So Much, New York: Henry Holt, 2013.
9 Anandi Mani, Sendil Mullainathan, Eldar Shafir, and Jiayang Zhao, “Poverty Impedes Cognitive Function,” Science, vol. 341, no. 6149, 2013.
10 Jirs Meuris and Carrie Leana, “The High Cost of Low Wages: Economic Scarcity Effects in Organizations,” Research in Organizational Behavior, vol. 35, no. 1, 2015.
11 Jirs Meuris and Carrie Leana, “The Price of Financial Precarity: Organizational Costs of Employees’ Financial Concern,” Organization Science, vol. 29, no. 3, 2018.
12 Carrie Leana, Jirs Meuris, and Cait Lamberton, “More Than a Feeling: The Role of Empathetic Care in Promoting Safety in Health Care,” Industrial and Labor Relations Review, vol. 71, no. 2, 2018, pp. 394–425.
13 Jirs Meuris, Cait Lamberton, and Carrie Leana, “Financial Concerns and Academic Achievement: Nudging Financially Precarious College Students,” working paper, University of Pittsburgh Center for Healthcare Management, 2018.
14 College Board, Trends in College Pricing 2015.
15 Sara Goldrick-Rab, Paying the Price: College Costs, Financial Aid, and the Betrayal of the American Dream, Chicago: University of Chicago Press, 2016.
16 Daniel Fernandes, John Lynch Jr., and Richard Netemeyer, “Financial Literacy, Financial Education, and Downstream Financial Behaviors,” Management Science, vol. 60, no. 8, 2014.
17 Frank Dobbin, “The Origins of Private Social Insurance: Public Policy and Fringe Benefits in America, 1920-1950,” American Journal of Sociology, vol. 97, no. 5, 1992.
18 Edward Berchick, Emily Hood, and Jessica Barnett, Health Insurance Coverage in the United States: 2017, US Census Bureau, September 2018.
19 OECD, Social Spending Indicator, 2018, accessed on Dec. 11, 2018, doi: 10.1787/ 7497563b-en.
20 OECD, Minimum Relative to Average Wages of Full-time Workers, 2018, https://stats.oecd.org/Index.aspx?DataSetCode=RMW.
21 Jody Heymann, Hye Jin Rho, John Schmitt, and Alison Earle, Contagion Nation: A Comparison of Paid Sick Day Policies in 22 Countries, Center for Economic and Policy Research, May 2009.
22 OECD, OECD Family Database, 2018.
23 Adam Cobb, “Risky Business: The Decline of Defined Benefit Pensions and Firms’ Shifting of Risk,” Organization Science, vol. 26, no. 5, 2015.
24 Kaiser Family Foundation, 2015 Employer Health Benefits Survey, September 22, 2015.
25 OECD, Social Spending, 2018, https://data.oecd.org/socialexp/social-spending.htm#indicator-chart.
26 The Center for Labor Research and Education, University of California, Berkeley, Inventory of U.S. City and County Minimum Wage Ordinances, 2018.
27 National Conference of State Legislatures, State Family and Medical Leave Laws, July 19, 2016.
28 Jacob Hacker, The Great Risk Shift: The New Economic Insecurity and the Decline of the American Dream, Oxford, UK: Oxford University Press, 2008.
29 Bureau of Labor Statistics, BLS Reports, A Profile of the Working Poor, 2016, July 2018.
30 Vincent Fusaro and H. Luke Shaefer, “How Should We Define ‘Low-Wage’ Work? An Analysis Using the Current Population Survey,” Monthly Labor Review, US Bureau of Labor Statistics, 2016.
31 Jirs Meuris, Carrie Leana, and Evan Gilbertson, “Health Benefits to Financial Wellness: How Improving Employees’ Personal Finances Leads to a Healthier Workforce,” working paper, University of Pittsburgh Center for Healthcare Management, 2018.
32 Meuris, Lamberton, and Leana, “Financial Concerns and Academic Achievement.”
33 Jeffrey Pfeffer, Dying for a Paycheck: How Modern Management Harms Employee Health and Company Performance—and What We Can Do About It, New York: Harper Collins, 2018.
34 Eileen Appelbaum and Ruth Milkman, No Big Deal: The Impact of New York City’s Paid Sick Days Law on Employers, Center for Economic and Policy Research, 2016.
35 Schlomo Benartzi and Richard Thaler, “Behavioral Economics and the Retirement Savings Crisis,” Science, vol. 339, no. 6124, 2013.