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The Age of Diminished Expectations: U.S. Economic Policy in the 1990’s

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.

Author: Paul R. Krugman

Edition: 1St Edition

Binding: Hardcover

EAN: 9780262111560

Manufacturer: Mit Pr

Number of items: 1

Number of pages: 204

Product group: Book

Studio: Mit Pr

Publication Date: 1990-08

Publisher: Mit Pr

Pages: 204

ISBN: 026211156X

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Paul Krugman
Paul Robin Krugman (born February 28, 1953) is an American economist, Distinguished Professor of Economics at the Graduate Center of the City University of New York, and an op-ed columnist for The New York Times. In 2008, Krugman won the Nobel Memorial Prize in Economic Sciences for his contributions to New Trade Theory and New Economic Geography.