The Age of Diminished Expectations, Third Edition - Hardcover

Krugman, Paul R.

Hardcover

ISBN 10: 0262112248 ISBN 13: 9780262112246

Publisher: Mit Pr, 1997

Synopsis

Paul Krugman's popular guide to the economic landscape of the 1990s has been revisedand updated to take into account economic developments of the past three years. New material in thethird edition includes:- A new chapter--complete with colorful examples from Lloyds of London andSumitomo Metals--on how risky behavior can lead to disaster in private markets.- An evaluation ofthe Federal Reserves role in reining in economic growth to prevent inflation, and the debate overwhether its growth targets are too low.- A look at the collapse of the Mexican peso and the burst ofJapans bubble economy.- A revised discussion of the federal budget deficit, including the growingconcern that Social Security and Medicare payments to retiring baby boomers will threaten thesolvency of the government.Finally, in the updated concluding section, the author provides threepossible scenarios for the American economy over the next decade. He warns that we live in an age ofdiminished expectations, in which the voting public is willing to settle for policy drift--but withthe first of the baby boomers turning 65 in 2011, the U.S. economy will not be able to driftindefinitely.

About this title

About the Author

Paul Krugman is Professor of Economics and International Affairs at Princeton University and a New York Times columnist. He was awarded the Nobel Prize for Economics in 2008.

From Library Journal

This book occupies fairly rare territory: the middle ground. Krugman's most likely scenario for the 1990s is neither crash nor boom but a continuation of the 1980s, with some unemployment, more inflation, and only slow growth in income. Surprisingly, Krugman notes, the public will continue to be satisfied with this performance. Designed for the general reader, the book covers the important economic problems and proposed solutions. One also discovers which problems should be real concerns and which are even amenable to solution. Recommended especially for public libraries as a well-balanced introduction to the 1990s.
- Richard C. Schiming, Mankato State Univ., Minn.
Copyright 1990 Reed Business Information, Inc.

Edition details

• Publisher: Mit Pr
• Publication date: 1997
• Language: English
• ISBN 10: 0262112248
• ISBN 13: 9780262112246
• Binding: Hardcover
• Number of pages: 232