The Age of Diminished Expectations
By Paul Krugman
1990
First Published
3.82
Average Rating
240
Number of Pages
Paul Krugman's popular guide to the economic landscape of the 1990s has been revised and updated to take into account economic developments of the past three years. New material in the third edition A new chapter―complete with colorful examples from Lloyds of London and Sumitomo Metals―on how risky behavior can lead to disaster in private markets.- An evaluation of the Federal Reserves role in reining in economic growth to prevent inflation, and the debate over whether its growth targets are too low.- A look at the collapse of the Mexican peso and the burst of Japans bubble economy.- A revised discussion of the federal budget deficit, including the growing concern that Social Security and Medicare payments to retiring baby boomers will threaten the solvency of the government. Finally, in the updated concluding section, the author provides three possible scenarios for the American economy over the next decade. He warns that we live in an age of diminished expectations, in which the voting public is willing to settle for policy drift―but with the first of the baby boomers turning 65 in 2011, the U.S. economy will not be able to drift indefinitely.
Avg Rating
3.82
Number of Ratings
188
5 STARS
24%
4 STARS
41%
3 STARS
28%
2 STARS
5%
1 STARS
1%
goodreads
Author
Paul Krugman
Author · 27 books
Paul Robin Krugman is an American economist, liberal columnist and author. He is Professor of Economics and International Affairs at the Woodrow Wilson School of Public and International Affairs, Princeton University, Centenary Professor at the London School of Economics, and an op-ed columnist for The New York Times. In 2008, Krugman won the Nobel Memorial Prize in Economics for his contributions to New Trade Theory and New Economic Geography.
