The age of diminished expectations : U.S. economic policy in the 1990s

Author(s)

Bibliographic Information

The age of diminished expectations : U.S. economic policy in the 1990s

Paul Krugman

MIT Press, c1994

Rev. and updated ed

  • : hbk
  • : pbk

Available at  / 60 libraries

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Note

"First published in 1990 by the Washington Post Company as the first book in their series Briefing book."--T.p. verso of pbk. ed

Includes bibliographical footnotes and index

Description and Table of Contents

Description

This guide to the economic landscape of the 1990s has been revised and updated to include a new introduction in which Krugman connects George Bush's fall from office to simmering dismay over a long-term economic slowdown. There is a new chapter on international finance that focuses primarily on European monetary affairs, and a new chapter on health care that examines why costs have exploded and explains how managed competition and alternative systems would work, and why it is so difficult to control rising health care costs. There are smaller additions throughout the rest of the book. These include: a discussion of how people misunderstand the relationship between productivity and competitiveness; the very minor industrial policy proposals that have been made thus far; new data reflecting even larger gains for the wealthy than have been thought; a prediction that Clinton's tax plan will have only a small impact; a discussion of the junk bond market collapse; and the startling productivity numbers for 1992. Discussions of unemployment and the trade deficit take into account that unemployment has risen, and there is a new section on how the Federal Reserve fumbled, as well as a new assessment of financial markers in light of the recession.

Table of Contents

  • Part 1 The roots of economic welfare: productivity growth
  • income distribution
  • employment and unemployment. Part 2 Chronic aches and pains: the trade deficit
  • inflation. Part 3 Policy problems: health care
  • the budget deficit
  • the embattled Fed
  • the dollar
  • free trade and protectionism
  • Japan. Part 4 Financial follies: the savings and loan scandal
  • corporate finance
  • global finance. Part 5 American prospects: happy ending
  • hard landing
  • drift.

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