The Age of Diminished Expectations

The Age of Diminished Expectations

U.S. Economic Policy in the 1990s

eBook - 1997
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MIT Press

Paul Krugman's popular guide to the economic landscape of the 1990s has been revisedand updated to take into account economic developments of the past three years. New material in thethird edition includes:- A new chapter--complete with colorful examples from Lloyds of London andSumitomo Metals--on how risky behavior can lead to disaster in private markets.- An evaluation ofthe Federal Reserves role in reining in economic growth to prevent inflation, and the debate overwhether its growth targets are too low.- A look at the collapse of the Mexican peso and the burst ofJapans bubble economy.- A revised discussion of the federal budget deficit, including the growingconcern that Social Security and Medicare payments to retiring baby boomers will threaten thesolvency of the government.Finally, in the updated concluding section, the author provides threepossible scenarios for the American economy over the next decade. He warns that we live in an age ofdiminished expectations, in which the voting public is willing to settle for policy drift--but withthe first of the baby boomers turning 65 in 2011, the U.S. economy will not be able to driftindefinitely.


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 years from 1994 - 1997.

Publisher: Cambridge, Mass. : MIT Press, 1997
Edition: 3rd ed
ISBN: 9780585002774
0585002770
0262611341
0262112248
Characteristics: 1 online resource (xii, 232 p.) : ill

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