41 of 44 people found the following review helpful:
5.0 out of 5 stars
Excellent! Definitely a classic!, October 24, 2002
This review is from: The Accidental Theorist and Other Dispatches from the Dismal Science (Paperback)
This book is essentially a collection of Krugman's short articles from various sources in 1996 and 1997. I read some of them online after the 97 Asian Crisis. Today is 24th Oct 2002. What, and simply all, he said are still true today. He's a genius and really deserves a Nobel prize. To me, he already has. I think it becomes more appropriate to quote the praise of a Nobel Laureate from the back cover of the book than to write more myself:-(I checked that it's not on the editorial review here on Amazon)
"When it comes to popularized economic wisdom, there are a lot of balloons of ignorance out there, many of them reinforced by self interest and self confidence. Fortunately Paul Krugman is also out there, popping those balloons with intelligence, style and wit. You can learn a great deal, about economics and otherwise, by reading these delightful essays."
Robert M. Solow, Nobel Laureate
MIT
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49 of 54 people found the following review helpful:
3.0 out of 5 stars
Pop Economics, April 5, 2004
This review is from: The Accidental Theorist and Other Dispatches from the Dismal Science (Paperback)
In the introduction to 'The Accidental Theorist', Paul Krugman states his ambition to do for Economics what Carl Sagan has done to Astronomy - to serve it to the intelligent public without the specialized vocabulary and the math - to popularize economics. In so far as this book is intelligent, enlightening, and most of all - fun, Krugman has hit home run.
This is a book of essays, most published in Slate, but also including various speeches and pieces for other markets, such as the New York Times Magazine. In most of them, Krugman discusses the fallacies of prominent 'Accidental Theorists' - people who get economics wrong, either through ignorance of and contempt to economics - like the 'hero' of the title essay, Rolling Stone reporter William Greider who apparently thinks that economics is "not really a science so much as a value laden form of prophecy" even though he doesn't know the first thing about it (p.23) - or, for those who should know better, because they are blinded by their political agenda - like Conservative house leader and professor of economics Richard Armery, whose manipulation of data Krugman exposes (pp. 58-59).
Krugman is celebrated as an independent scholar, deconstructing fallacies both from the left and from the right. Even though Krugman attacks leftists wrongs (as in the aforementioned 'accidental theorist' and in a series of attacks on the dismal economic policies of socialist France), it is clear where his heart is. Krugman is a free market Liberal, who supports active governments, both for the definition of property rights ('Taxes and Traffic Jams' pp.173-178), and for helping the poor, including funding Medicare by increasing taxation (pp. 189-190). Krugman also attacks Supply Side Economics (in a whole section of the book titles 'Right Wing Wrongs'), and argues that inequality in American is not, for the most part, the fault of the poor (p. 54).
I basically share almost all of Krugman's views, and Krugman takes care to separate his ideology from his analysis, but he is not the unbiased source he sometimes appears to be (but then again, who is?).
The greatest in the arsenal of weapons in Krugman's war against economic fallacies is his command of prose. Krugman tackles difficult subject with the immense clarity and wit, and the pure joy of reading it would make this book interesting even for those who are well acquainted with economics.
The weakest aspects lie not in these essays themselves, but in the editing. Krugman essentially collected the essays, arranged them according to themes, and wrote introductions to each theme. The book suffers from several weaknesses which could have been avoided with a little more care.
First, there is a complete lack of scholarly apparatus that will let the reader track Krugman's facts and statements. The book has neither footnotes nor a bibliography, and there's not even an index.
Second, these essays were written in the middle 1990s, during the height of the Clinton years. They constantly refer to then current affairs. But what was the here and now in 1997 is now then and there, and the memory of events will not become fresher as the first Bush administration comes to an end. More background information about the situation when Krugman has written would have made this much easier to get into.
Finally, Krugman misses the opportunity to update us on what has happened since he has written these essays. Several people criticized here, such as historian David Hackett Fischer, must have reacted to Krugman's and similar criticisms, but if they did, their voice here is silent. Nor does Krugman bother to tell us how he feels the realities (such as the European Monetary Union or the troubles in Latin America) measure up to his predictions about them. It feels like a lost opportunity - Krugman could have reconsidered these essays, instead of merely republishing them.
Faults aside, Paul Krugman's book may just be the best written book about economics I've ever read. His prose and insights are well worth your time and money.
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20 of 20 people found the following review helpful:
4.0 out of 5 stars
COMPLEX THEORIES THROUGH SIMPLE EXAMPLES, February 12, 2002
This review is from: The Accidental Theorist and Other Dispatches from the Dismal Science (Paperback)
This compilation of some of Paul Krugman's articles provides the reader wih an insight to a number of economic theories. Krugman's book doesn't require the reader to have an economic encyclopedia by his/her side while reading it - the examples are very basic and down to earth, and even those that are totally clueless when it comes to economics are able to understand what Krugman is trying to say. He has skillfully taken many a complex theory and broken it down into a language that can be comprehended by the massses. In fact Krugman at times makes fun of those other economists that make simple economic theories look highly complicated. While reading the book you will also come across Krugman's sly sense of humor which livens things up dramatically. Krugman also emphasises the connection between international relations and economics - you will understand the intricacies of these two worlds, and the way in which they are intertwined. An extremely interesting and enjoyable read.
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