Krugman’s Peddling Prosperity is a lucid deconstruction of supply-side economics; a strident (and sensible, as far as I can tell) defense of Keynesian theory after. Krugman’s enfilade against the policy entrepreneurs is strictly bipartisan, but most of his fire is directed against the supply-siders with only a few random shots . Peddling Prosperity. Paul Krugman, Author, Krugman Paul, Author, Krugman, Author W. W. Norton & Company $22 (p) ISBN
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Though a liberal, he praises the achievements of conservative economists like Milton Friedman and Martin Feldstein.
This states that the market does not necessarily produce and nurture the best ideas. Journal columnists, Jude Wanniski, George Gilderpolitical staffs and think tanks. Krugman carefully explains the gap between academic economics and policymakers, and demonstrates the historical incompetency of the latter.
We’re either Keynesian or pro-free markets This is an excellent book for the study and discussion of the s changes in politics and rise of the neoliberal movement though not termed so in Krugman’s book. Instead, he presents the history of the easy fixes presented by both the left and right in the US over the past several decades. Krugman presents and discusses the evidence summarized below. There was a problem adding your email address. Krugman does a great job placing the debates of economic policy in 80’s and early 90’s into perspective.
While this book was written before the Clinton-era boom had really taken off, I remember growing up in the 90s and thinking of it as a time of seemingly permanent growth.
Krugman makes the point that how well or badly depending on how you look at it the economy performed in the s and early 90’s had almost nothing to do with the Reagan administration.
Yet when Ronald Reagan brought conservatism to power, it was in the name not of serious thinkers but of the supply-siders, whose ideas peddlinh cartoon-like in their simplicity. This is a fine example of brilliant scholarship available to the layman. This book isn’t the most recent, and thus would benefit from an addendum discussing the Bush and Obama Presidencies. Krugman often resorts to personal attacks to discredit his intellectual opponents.
Maybe the huge increase in income inequality between top and bottom but this was seen all over the world This book has inspired me to learn more about the subject and that is the best compliment one can give to such a work.
PEDDLING PROSPERITY by Paul Krugman | Kirkus Reviews
This wonderfully received book finds him in top form, observing the years he’s dubbed “the age of diminished expectations. So inefficiencies and bad ideas can get reinforced by the marketplace, and the market does not have a good mechanism for overcoming such a shortcoming.
I think that’s dumb, not only because it assumes that there are only two sides to pfosperity debate, and that it’s always somehow possible to take an average of each position and keugman sense does it really make much sense to invade half of Iraq, or cut income taxes for people whose last names are A-M?
This is a good book for krugmab interested in economic ideas from an economic history standpoint, though it does an admirable job of explaining many economic principles and failed understandings of economic principles. On the evidence of the ingratiatingly witty text at hand, however, MIT Professor Krugman The Age of Diminished Experience, not reviewed can and does subject a dubious discipline to the sort of analysis that could make it accessible as well as useful to the voting public.
By walking the krguman through these implicit models, showing you the data, and giving you the reasons why they’re wrong, Krugman both avoids simply throwing out ad-hominems though there are some barbs in here and gives you a way to think about future claims.
Although Krugman pointed out the deficiencies of classical economics and real business cycle theory, he emphasized that the greatest issue is “policy entrepreneurs” who claim economist credentials and sell policy recommendations that have no support in academia to politicians looking for easy answers. In effect, a trade war is a conflict in which each country uses most of its ammunition to shoot itself in the foot.
MIT economist Paul Krugman’s bestseller Peddling Prosperity – Economic Sense and Nonsense in the Age of Diminished Expectationsoffers clarity and candor to confused voters, and scathing words for hucksters of economic snake-oil. This book and the previous one I reviewed were not read with an e-reader, and it’s a Jul 29, marcos sahade rated it it was amazing. One of the reasons why he has earned such a reputation as a strong liberal is due to his staunch opposition to the Bush tax cuts in and ; reading the math behind why the Reagan tax cuts failed and, closer to krhgman, why the recent late extension of the Bush cuts will fail utterly to bring prosperitypeddlinf become In his book, he identifies the key player influencing recessions and the current expansion as krugmna Federal Reserve Bank.
It started with the conservative economists – Milton Friedman at their head – who krrugman powerful arguments against activist government that had liberals on the defensive for many years. Democrat economic snake oil in the late 80’s and early 90’s.
Kruugman remarks on the Thatcher experience are rather crass, IMO. Republican economic snake oil in the 70’s and 80’s. Jul 07, Chris rated it really liked it.
Peddling Prosperity | W. W. Norton & Company
So anyway, now I feel like I know slightly more than nothing about economics. New economic thinking in the realm of trade and development in the s. In this provocative book, Paul Krugman traces the swing of the ideological pendulum, from left to right and back again, and the strange things that happen to economic ideas on their way to power.