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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One important thing I learned from this book was that although the President is often judged by the performance of the economy during his regime, he or she really doesn’t have nearly as peddling of an effect on it as general business trends and the actions of the Fed. Jan 22, Lucas rated it really liked it Shelves: Krugman’s remarks on the Thatcher experience are rather crass, IMO.
The most effective The stated aim pedling this book is to demonstrate that economic policy is the product of political expediency much more than the of the wisdom of learned economists. Professional economists, who have the background to appreciate Krugman’s accomplishment, will like this work from a likely future Nobel laureate.
Peddling Prosperity – Wikipedia
Those two sentences are how I characterized this book when I read it in What pain it was to read Krugman blow Galbraith into smithereens! Krugman notes that the top marginal rates were probably too high, but still criticizes the cut as a politician would — the tax cut benefited the rich more than the poor.
I like this book because it goes beyond the trite pgosperity we have in popularized versions of faulty economic principles: Often as not, official economic policy is mumbo-jumbo whose main purpose is to mask the discomfort of recession that occurs when the Fed tightens to money supply to ward off inflation.
Above all, they have been the age of the policy entrepreneur – the economic snake-oil salesman, right or left, who offers easy answers to hard problems. Apr 26, Christina Peddlingg rated it really liked it. I think that’s dumb, not only because it assumes that there are only two sides to a debate, and that it’s always somehow possible to take an average of each position and make sense does it really make much sense to invade half of Iraq, or cut income taxes for people whose last names are A-M?
Krugman does an amazing job of describing supply side, strategic trading and general trends over that 30 year period – and he does it in peddliing very fair, readable and humorous way.
Branden rated it really liked it. But strange things have happened to economic ideas on thei This wonderfully received book finds him in top form, observing the years he’s dubbed “the age of diminished expectations.
He criticizes Clinton too, for Clinton was a policy wonk that was deep in the weeds krubman this stuff. Although erudite at times, I appreciated when Krugman refused to boil down some concepts of economics beyond the point where they still have meaning, instead presenting them in their necessary complexity.
Parts of it are no longer all that relevant, especially for European readers like myself, but it still makes for a great read and it brilliantly illustrates the kind of trouble that ‘policy entrepeneurs’ – that is, self-confident dilettantes with simplistic and harmful ideas – casue when allowed to influence national policy. The positive role government can play in American economic life.
Be the first to discover new talent! Jul 29, marcos sahade rated it it was amazing.
oeddling Feb 21, Ville Kokko added it Shelves: 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. Most of the book is dedicated to debunking the myth of so-called “Reaganomics” or, supply-side economic theory; however, it would be impossible to call this a partisan effort, as it just as fluently pokes holes in the competitive internationalist paradigms of Clinton and later Democrats.
Maybe the huge increase in income inequality between top kurgman bottom but this was seen all over the world Krugman takes aim at nonsense from both conservative and liberal policy entrepreneurs. Otherwise, the economy operates under its own observable but dimly understood logic. I recommend this book highly, and would use it in certain lrugman without hesitation.
Review of Paul Krugman’s Peddling Prosperity
The entrepreneurs preach simplistic solutions to krigman, sometimes non-existent problems. Brief history of modern Economics. What Krugman shows in this book is: In the face of high unemployment, wages and prices will tend to fall. They have also been a time of intense economic debate, as rival ideologies contend for policy influence. Great book by a great economist. Sounds compelling, but I can’t even rate it with my lack of background knowledge. Ryan rated it really liked it. Oh Krugman, enough said I always feel the same way after I finish one of his books: 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.
As one example, net national savings was only 3.
Jan 05, Margaux rated it really liked it.