The Age of Diminished Expectations

by Paul Krugman

Book Overview

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 includes: - 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...

• Format: Paperback
• Language: English
• ISBN: 0262611341
• ISBN13: 9780262611343
• Release Date: August 1997
• Publisher: MIT Press
• Length: 244 Pages
• Weight: 1.45 lbs.
• Dimensions: 0.6" x 6.2" x 8.9"
• Age Range: 18 years and up
• Grade Range: Postsecondary and higher

Customer Reviews

Concise, straight to the point

Very good book by the 2008 prize in memory of Alfred Nobel: Paul Krugman. Each chapter is a synthesis of facts and theory so that one may understand the economic theory through the facts and viceversa. According to Krugman, the objectives of economics (better, of macroeconomics) are productivity growth, income distribution and employment. All the rest in macroeconomics descends from these three pillars (inflation, the trade deficit, the budget deficit, the dollar ups and downs, protectionism vs.free trade, etc.). A clear prose; worth reading and re-reading.

clear, almost prescient

This book was written when Americans were worried about Japan's so-called ascendence in the late 1980s. That makes is a bit dated, but it is still a great assessement of the strnegths and weaknesses of US economy. For the most part, Krugman was right: we underestimated our strenghts and over-esteemed those of Japan, as the last decade demostrates. For an economist, Krugman is a great writer as well, and his irascibility is fun, though not, I imagine, if his scorn is directed towards you.

Excellent! Makes complex issues accessible

Paul Krugman distills complex economic issues into easy-to-read and comprehend parts. If you want to understand some key economics concepts, but don't have much econ training, his writing is for you. He doesn't "dummy down" the subject, he just uses regular english without an expectation that you know the jargon, and it makes sense.

an excellent introduction to the big economic issues

I found this an excellent account of the big economic issues facing the US today.It is more measured (and perhaps a little less fun!)than a lot of Krugman's popular writing .One fault with the book is it concentrates too much on macroeconomic and international issues as opposed to say industrial and environmental regualtion,the legal system and so forth.The chapter on corporate governace was among the best in the book and more chapters on microeconomic issues would definitely improve the book.

Economics for the Rest of us

I think the above review does not do justice to this wonderful book. It doesn't say"Japan is coming, sky is falling" at all, this is exactly the sort of thing he criticizes in the book. One of the great thing about this book, however, is that he does try to give a fair explanation of various theories, even when he doesn't agree with them. You always get the fair and whole picture of the issue at hand. A great book, almost everything you need to know about economics as a layperson is here.