Cover image for The great unraveling : losing our way in the new century
Title:
The great unraveling : losing our way in the new century
Author:
Krugman, Paul R.
Personal Author:
Edition:
First edition.
Publication Information:
New York : W.W. Norton, [2003]

©2003
Physical Description:
xxix, 426 pages ; 25 cm
General Note:
Includes index.
Language:
English
ISBN:
9780393058505
Format :
Book

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Summary

Summary

No one has more authority to call the shots the way they really are than Paul Krugman, whose provocative New York Times columns are keenly followed by millions. One of the world's most respected economists, Krugman has been named America's most important columnist by the Washington Monthly and columnist of the year by Editor and Publisher magazine.In this long-awaited work containing Krugman's most influential columns along with new commentary, he chronicles how the boom economy unraveled: how exuberance gave way to pessimism, how the age of corporate heroes gave way to corporate scandals, how fiscal responsibility collapsed. From his account of the secret history of the California energy crisis to his devastating dissections of dishonesty in the Bush administration, Krugman tells the uncomfortable truth about how the United States lost its way. And he gives us the road map we will need to follow if we are to get the country back on track.


Author Notes

Paul Krugman was born on February 28, 1953. He received a B.S. in economics from Yale University in 1974 and a Ph.D from MIT in 1977. From 1982 to 1983, he worked at the Reagan White House as a member of the Council of Economic Advisers. He taught at numerous universities including Yale University, MIT, UC Berkeley, the London School of Economics, and Stanford University before becoming a professor of economics and international affairs at Princeton University in 2000. He has written over 200 scholarly papers and 20 books including Peddling Prosperity; International Economics: Theory and Policy; The Great Unraveling; and The Conscience of a Liberal. Since 2000, he has written a twice-weekly column for The New York Times. He received the 1991 John Bates Clark Medal and the 2008 Nobel Memorial Prize in Economic Sciences. His title End This Depression Now! made The New York Times Best Seller List for 2012.

(Bowker Author Biography)


Reviews 2

Publisher's Weekly Review

This selection of three years of New York Times op-eds by economist and Princeton professor Krugman document his opposition to the governance of George W. Bush and his "bad economics wrapped in the flag." In his introduction, Krugman asserts that Bush is a radical and that America's right wing is "a revolutionary power... a movement whose leaders do not accept the legitimacy of our current political system." The core of the book's 100-plus columns is dedicated to eviscerating Bush's fiscal policies, uncovering the administration's hidden agendas, as well as castigating the media for letting him get away with it. A handful of articles advocate the globalization of free trade. Much of the material will be familiar to Times readers, but reading the items together reveals Krugman's growing anger at the hubris he sees exhibited by the extreme right wing and its seeming defiance of logic. At first, Krugman is a numbers man, methodically parsing the data (demonstrating, for example, how the heartland is not, statistically, more committed to family than people on the coasts), but over time he arrives at the conclusion that "Yes, Virginia, there is a vast right-wing conspiracy" and "it works a lot like a special-interest lobby." Krugman is one of the few commentators able to sound both appalled and reasonable at the same time as he provides an alternate history of the last three years to that penned by conservative pundits. Many readers will find Krugman very persuasive as to how our present government has done us wrong. (Sept.) Forecast: Krugman's book will probably be a standout among books of the liberal backlash due this season. 11-city author tour. (c) Copyright PWxyz, LLC. All rights reserved


Library Journal Review

Never shy to speak up, New York Times columnist Klugman really takes his gloves off here. (c) Copyright 2010. Library Journals LLC, a wholly owned subsidiary of Media Source, Inc. No redistribution permitted.


Table of Contents

Acknowledgmentsp. xiii
Prefacep. xv
Introduction: A Revolutionary Powerp. 3
I Bubble Troublep. 21
1. Irrational Exuberancep. 27
Seven Habits of Highly Defective Investorsp. 27
The lce Age Comethp. 31
The Ponzi Paradigmp. 34
Dow Wow, Dow Owp. 37
Money for Nothing?p. 40
Create and Destroyp. 43
The Pizza Principlep. 46
Damaged by the Dowp. 49
2. Portents Abroadp. 53
Asia: What Went Wrong?p. 53
Why Germany Kant Kompetep. 57
We're Not Japanp. 60
A Leap in the Darkp. 63
3. Greenspanomicsp. 67
Don't Ask Alanp. 67
Eleven and Countingp. 70
Herd on the Streetp. 73
Living with Bearsp. 76
Dubya's Double Dip?p. 79
Mind the Gapp. 82
Passing the Buckp. 85
Stocks and Bombsp. 88
The Vision Thingp. 91
Dealing with Wp. 94
My Economic Planp. 97
4. Crony Capitalism, U.S.A.p. 101
Crony Capitalism, U.S.A.p. 101
Two, Three, Many?p. 104
Enemies of Reformp. 107
Greed Is Badp. 110
Flavors of Fraudp. 113
Everyone Is Outragedp. 116
Succeeding in Businessp. 119
The Insider Ganep. 122
The Outrage Constraintp. 125
Business as Usualp. 128
II Fuzzy Mathp. 131
5. The Bait ...p. 137
Oops! He Did It Againp. 137
We're Not Responsiblep. 140
Fuzzier and Fuzzierp. 143
Et Tu, Alan?p. 146
Slicing the Salamip. 149
The Money Pitp. 152
The Universal Elixirp. 155
Bad Heir Dayp. 158
Pants on Firep. 161
6. ... And the Switchp. 165
Hitting the Trifectap. 165
The Quiet Manp. 168
Our Wretched Statesp. 171
Bush's Aggressive Accountingp. 174
True Blue Americansp. 177
The Great Evasionp. 180
Springtime for Hitlerp. 183
Is the Maestro a Hack?p. 186
7. 2 - 1 = 4p. 189
The Pig in the Pythonp. 189
Prescription for Failurep. 192
A Retirement Fablep. 195
No Good Deedp. 198
2016 and All Thatp. 201
Sins of Commissionp. 204
Bad Medicinep. 207
Fear of All Sumsp. 210
III Victors and Spoilsp. 213
8. Things Pull Apartp. 219
America the Polarizedp. 219
The Sons Also Risep. 222
Hey, Lucky Duckies!p. 225
9. The Private Interestp. 229
Paying the Pricep. 229
The Public Interestp. 232
The 55-Cent Solutionp. 235
Money-Grubbing Gamesp. 238
The Long Haulp. 241
10. Exploiting September 11p. 245
The One-Eyed Manp. 245
An Alternate Realityp. 248
The Rove Doctrinep. 251
The Reality Thingp. 254
The Real Thingp. 257
Dead Parrot Societyp. 260
The Pitt Principlep. 263
Victors and Spoilsp. 266
11. A Vast Conspiracy?p. 269
The Smoke Machinep. 269
The Angry Peoplep. 272
The Bully's Pulpitp. 275
For the Peoplep. 278
In Media Resp. 281
Digital Robber Barons?p. 284
Behind the Great Dividep. 287
Channels of Influencep. 290
IV When Markets Go Badp. 293
12. California Screamingp. 299
California Screamingp. 299
The Unreal Thingp. 302
The Price of Powerp. 305
The Real Wolfp. 308
Turning California Onp. 311
Enron Goes Overboardp. 314
Smoking Fat Boyp. 317
In Broad Daylightp. 320
Delusions of Powerp. 323
13. Smong and Mirrorsp. 327
The Unrefined Truthp. 327
Burn, Baby, Burnp. 330
Feeling OPEC's Painp. 333
Ersatz Climate Policyp. 336
Two Thousand Acresp. 339
Bad Air Daysp. 342
Bush on Firep. 345
14. Foreign Disastersp. 349
Hong Kong's Hard Lessonp. 349
Crying with Argentinap. 353
Losing Latin Americap. 356
The Lost Continentp. 359
V The Wider Viewp. 363
15. Global Schmobalp. 367
Enemies of the WTO: Bogus Arguments against the World Trade Organizationp. 367
Saints and Profitsp. 373
Workers vs. Workersp. 376
The Scrooge Syndromep. 379
Heart of Cheapnessp. 382
America the Scofflawp. 385
White Man's Burdenp. 388
16. Economics and Economistsp. 391
Supply, Demand, and English Foodp. 391
O Canada: A Neglected Nation Gets Its Nobelp. 395
Who Knew? The Swedish Model Is Workingp. 400
The Two Larrysp. 403
Missing James Tobinp. 406
Indexp. 409

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