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Age Of Diminished Expectations : U.S. Economic Policy in the 1990s

Age Of Diminished Expectations : U.S. Economic Policy in the 1990s - 3rd edition

ISBN13: 978-0262611343

Cover of Age Of Diminished Expectations : U.S. Economic Policy in the 1990s 3RD 97 (ISBN 978-0262611343)
ISBN13: 978-0262611343
ISBN10: 0262611341
Cover type: Paperback
Edition/Copyright: 3RD 97
Publisher: MIT Press
Published: 1997
International: No

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Age Of Diminished Expectations : U.S. Economic Policy in the 1990s - 3RD 97 edition

ISBN13: 978-0262611343

Paul Krugman

ISBN13: 978-0262611343
ISBN10: 0262611341
Cover type: Paperback
Edition/Copyright: 3RD 97
Publisher: MIT Press

Published: 1997
International: No
Summary

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

Paul Krugmans 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.

Author Bio

Krugman, Paul : Massachusetts Institute of Technology

Paul Krugman is Professor of Economics at the Massachusetts Institute of Technology.

Table of Contents

Foreword
Preface
Introduction

I The Roots of Economic Welfare

1. Productivity Growth
2. Income Distribution
3. Employment and Unemployment


II Chronic Aches and Pains

4. The Trade Deficit
5. Inflation


III Policy Problems

6. Health Care
7. The Budget Deficit
8. The Embattled Fed
9. The Dollar
10. Free Trade and Protectionism
11. Japan


IV Financial Follies

12. The Savings and Loan Scandal
13. Losing It
14. Global Finance


V American Prospects

15. Happy Ending
16. Hard Landing
17. Drift


Index

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