The Age of Diminished Expectations / Edition 3

by Paul Krugman

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 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.

Product Details

ISBN-13:	9780262611343
Publisher:	MIT Press
Publication date:	07/28/1997
Series:	The MIT Press
Edition description:	third edition
Pages:	244
Product dimensions:	6.00(w) x 9.00(h) x 0.56(d)
Age Range:	18 Years

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.

What People are Saying About This

Endorsement

The Age of Diminished Expectations is a remarkable achievement, a quick read that tells you much of what there is to know about the great economic issues of the day. Peter Passell , New York Times Book Review

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From the Publisher

The Age of Diminished Expectations is a remarkable achievement, a quick read that tells you much of what there is to know about the great economic issues of the day. Peter Passell , New York Times Book Review

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