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Synopsis
"The Age of Diminished Expectations" is a straightforward briefing on the US economy for readers who want to be well informed without being overwhelmed by statistics, predictions of disaster, or boundless optimism. In a new preface to this paperback edition, Krugman addresses the current recession, the aftermath of the Gulf War, the plunging trade deficit, and the soaring budget deficit. He notes, however, that little has changed in terms of the fundamental issues: "We still live in the America that the book describes: a huge wealthy nation that faces no immediate crisis, but which more and more fails to live up to its promise".
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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.
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The Age of Diminished Expectations: U.S. Economic Policy in the 1990s
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The Age of diminished Expectations; U.S. Economic Policy in the 1990s
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