Announcing the 2023 William G. Bowen Book Award Recipient

 Ours Was the Shining Future: The Story of the American Dream. New York: Random House, 2023.

This book examines the modern American economy through the dichotomy of capitalism that predominantly rewards a privileged few in the shadow of promises of prosperity for most. Reflecting on the economic history from the Great Depression through the Great Stagnation, Leonhardt searches for an answer to what happened to the American Dream. Leonhardt analyzes decades of data on income distribution and reports the effect of increased wages among union members on the labor market as well as the findings that income mobility continues to rise for second generation immigrants to conclude that the American dream is still possible.

Members of the Section noted: “This work contributes an important perspective on how economics and politics have interacted to restrict the labor market opportunities and place in the income distribution of less advantaged workers over the past half century.” 

- Annotations by Charissa O. Jefferson, Labor Economics Librarian

About William G. Bowen and the Annual Book Award

William G. Bowen's ties with Princeton and the Industrial Relations Section began in 1955, when he enrolled as a graduate student in economics.  Bowen joined the faculty at Princeton in 1958, upon completion of his Ph.D.  After a decade of teaching and advising, in 1967 Bowen became the second Provost of Princeton University.  He remained Provost until his appointment as the 17th President of Princeton University in 1972, a position he held for 16 years, when he was appointed President of the Mellon Foundation.

William Bowen has spent a life as a scholar and academic administrator, with remarkable achievements in both areas, often at the same time.  His scholarship, which ranges over a wide variety of subjects, is always empirically informed, solidly grounded in common sense, and directly aimed at issues of extraordinary importance for public policy.

In recognition of William Bowen's contribution to the fields of Labor Economics, Industrial Relations, and Human Resources and his long association with the Industrial Relations Section, the Section has established an annual award in his name. This award is presented to the book making the most important contribution toward understanding public policy related to industrial relations and the operation of labor markets.

Nominations from authors or publishers are not solicited nor accepted; this is an independent selection process.