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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The entrepreneurs preach simplistic solutions to perceived, sometimes non-existent problems. Democrat economic snake oil in the late 80’s and early 90’s. The past twenty years have been an era of economic disappointment in the United States. It would be interesting to see how he feels about prosperitty entrepreneurs now that he’s become NYT columnist and pundit extraordinaire. Feb 21, Ville Kokko added it Shelves: These policy entrepreneurs are all too common, and their misguided “theori An interesting overview on economic policy from the 70’s to the early 90’s, from the perspective of a Keynesian economist.

He also says some inadvertently hilarious things about computers, the internet and corporate power. Krugman, despite being an outspoken liberal, is entirely detached in his examination of policy and concedes a vast number of points that serious conservative economists make, while attacking the snake oil of both the right and pecdling – with the latter condemnation probably being even more severe, probably due to it being more relevant jrugman the time that the book was written.

With Krugman’s presentation on the supply-side pgosperity and its legacy, you wonder how supply-side tax cuts could be repackaged in another campaign. Mar 09, Vipul Vivek rated it liked it.

I fell in love with Krugman, and my eyes were opened to how informative economic analysis can be – as long as it’s written in a way that the average person can understand. Press releases and popular discussions of issues certainly haven’t gotten any more sophisticated, so it’s somehow still a breath of fresh air to read explanations of trade or productivity that are aimed at a irugman audience without being dumbed-down to sound bites. Krugman is basically dealing with three issues in this book: He also bemoans the European experiment to create a common currency.


As one example, net mrugman savings was only 3.

Read, highlight, and take notes, across web, tablet, and phone. This pattern shows up very frequently in his writing, and this book is no exception. Republican economic snake oil in the 70’s and 80’s. Contents Looking for Magicians.

This is a common Krugman remark. On one hand, nobody gets killed. Disregarding sophisticated conservative prozperity like Martin Feldstein, politicians seized on the cruder, easy to peddle supply-side message that the economy would benefit from tax cuts – without concern for offsetting spending cuts. Finally, the ‘s saw a dramatic rise in income inequality between rich and poor, but this is only partly due to government policies.

Cutting marginal tax rates, particularly for the top income earners. Similarly, Bob Dole has reversed his former stance as a deficit hawk. This book and the previous one I reviewed were not read with an e-reader, and it’s a I read this book for a class in public policy and will rkugman be grateful to the prof for assigning 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? He shows that supply-siders are basically cranks and that people like Friedman actually made some well thought out critiques, that don’t necessarily need to be, should be, or can be applied within the real world.

Krugman also blasts Robert Reich and other Democrats that he calls the “strategic traders,” who advocate a sort of industrial policy pwddling U. 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.

PEDDLING PROSPERITY by Paul Krugman | Kirkus Reviews

Krugman carefully explains the gap between academic economics and policymakers, and demonstrates the historical incompetency of the latter. Goodreads helps you keep track of books you want to read. Trivia About Peddling Prosperi This fall in wages and prices will increase the real supply of money–that is, the given stock of money in circulation will have steadily rising purchasing power.


In this cautionary context, Krugman surveys cyclical swings in ideology over the past couple of decades, starting with the successful challenge mounted by the right against Keynesian precepts, high taxation, and the welfare state.

Krugman finds keugman unhappy parallel in those who shape policy within the Clinton administration.

Peddling Prosperity: Economic Sense and Nonsense in an Age of Diminished Expectations

Productivity growth in the 80’s was 0. What makes this book so great is its honesty. Keynes did not deny the logic of this so-called classical argument; he was willing to concede that in the long run economic slumps would be self-correcting. But if you are an evil, wicked economist, you are reborn as a sociologist.

Krugman se luce en estos libros como uno de los economistas mas brillante de la epoca, no solo por su capacidad de explicar cuestiones que parecen complejas al publico en general, sino por adelantarse a los problemas que acontecieron en los 90 y la primera decada del siglo I always feel the same way after I finish one of his books: Krugman gives no more or less credence to the supply-siders than he does to their detractors.

Focusing, inter alia, on the persistent expansion of federal budget deficits, he next evaluates the checkered record compiled by conservatives in power. The fallacy of protectionism the strategic traders 6.

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There was a problem adding your email address. Besides debunking old claims made by political partisans, this book summarizes U.

Though a liberal, he praises the achievements of conservative economists like Milton Friedman and Pesdling Feldstein. Professional economists, who have the background to appreciate Krugman’s accomplishment, will like this work from a likely future Nobel laureate. This book has inspired me to learn more about the subject and that is the best compliment one can give to such a work.