Peddling Prosperity: Economic Sense and Nonsense in the Age of Diminished Expectations

Overview

Newsweek hailed Paul Krugman as "a superstar among economists" and went on to praise Peddling Prosperity as "the best primer around on recent U.S. economic history." Others joined the chorus.
This wonderfully received book finds him in top form, observing the years he's dubbed "the age of diminished expectations." The past twenty years have been an era of economic disappointment in the United States. They have also been a time of intense economic debate, as rival ideologies ...

See more details below
Other sellers (Paperback)
  • All (74) from $1.99   
  • New (17) from $1.99   
  • Used (57) from $1.99   
Sending request ...

Overview

Newsweek hailed Paul Krugman as "a superstar among economists" and went on to praise Peddling Prosperity as "the best primer around on recent U.S. economic history." Others joined the chorus.
This wonderfully received book finds him in top form, observing the years he's dubbed "the age of diminished expectations." The past twenty years have been an era of economic disappointment in the United States. They have also been a time of intense economic debate, as rival ideologies contend for policy influence. But strange things have happened to economic ideas on their way to power: they've been hijacked by policy entrepreneurs—economic snake-oil salesmen, right or left, who offer easy answers to hard problems. Supply-siders rose to power with Ronald Reagan and not only cured nothing but left behind a $3 trillion debt. Krugman finds an unhappy parallel in those who shape policy within the Clinton administration.

The past twenty years have been an era of economic disappointment in the U.S. They have also been a time of intense economic debate, as rival ideologies contend for policy influence. But strange things have happened to economic ideas on their way to power--they've been hijacked by policy entrepreneurs who offer easy answers to hard problems.

Read More Show Less

Editorial Reviews

Publishers Weekly - Publisher's Weekly
In this intellectual history of recent American economic thought, Krugman ( The Age of Diminished Expectations ) maintains that there is ``a constant market for doctrines that play to popular prejudices, whether they make sense or not. In times of economic distress, the search for politically useful ideas . . . takes on a special intensity.'' He deftly analyzes liberal and conservative academic economists, Keynes and ``new Keynesians,'' as well as ``policy entrepreneurs'' who, he contends, often offer stylish answers unencumbered by logic or data. Krugman caustically denigrates supply-siders as ``ideologues whose economic concepts were cartoonlike in their simplicity.'' Yet the author, a professor of economics at MIT, is also apprehensive about the pervasive influence of conservative academic economists and of ``strategic traders'' who have ``sold the American public . . . on the idea that our most crucial economic problem is our struggle with other advanced nations for global markets.'' This benchmark study will stimulate much needed discussion in both academia and Washington, D.C. (Mar.)
Library Journal
The major problem addressed in this book is that, when choosing between good economics and good politics, policy makers usually choose good politics. Krugman ( The Age of Diminished Expectations , MIT Pr., 1992) asserts that, just as Reagan became enamored of the dubious ideas of supply-siders, Clinton is in danger of being captured by another economic nostrum, strategic trading. The book also contains a most worthwhile exploration of the last 20 years of macroeconomic theory, policy, and performance. Krugman tells a coherent story rooted in economic commonsense accessible to all readers. His thesis of the good politics of bad economics is challenging and often convincing. Highly recommended for all libraries.-- Richard C. Schiming, Mankato State Univ., Minn.
Read More Show Less

Product Details

  • ISBN-13: 9780393312928
  • Publisher: Norton, W. W. & Company, Inc.
  • Publication date: 4/28/1995
  • Pages: 320
  • Sales rank: 706,207
  • Product dimensions: 5.50 (w) x 8.30 (h) x 0.80 (d)

Meet the Author

Paul Krugman

Paul Krugman is the recipient of the 2008 Nobel Prize in Economics. He is a best-selling author, columnist, and blogger for the New York Times, and is a professor of economics and international affairs at Princeton University.

Read More Show Less

Table of Contents

Preface
Introduction: Looking for Magicians 3
Pt. I The Rise of Conservative Economics
1 The Attack on Keynes 23
2 Taxes, Regulation, and Growth 55
3 The Supply-Siders 82
Pt. II Conservatives in Power
4 Growth 107
5 Income Distribution 130
6 The Budget Deficit 151
7 Conservatives Abroad 170
Pt. III The Pendulum Swings
8 In the Long Run Keynes Is Still Alive 197
9 The Economics of QWERTY 221
10 The Strategic Traders 245
Appendix to Chapter 10: Productivity and Competitiveness 268
Epilogue 281
Index 293
Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)