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The Age of Diminished Expectations, Third Edition: U.S. Economic Policy in the 1990s (Paperback)

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3.8 out of 5 stars See all reviews (19 customer reviews)

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Editorial Reviews

From Library Journal

This book occupies fairly rare territory: the middle ground. Krugman's most likely scenario for the 1990s is neither crash nor boom but a continuation of the 1980s, with some unemployment, more inflation, and only slow growth in income. Surprisingly, Krugman notes, the public will continue to be satisfied with this performance. Designed for the general reader, the book covers the important economic problems and proposed solutions. One also discovers which problems should be real concerns and which are even amenable to solution. Recommended especially for public libraries as a well-balanced introduction to the 1990s.
- Richard C. Schiming, Mankato State Univ., Minn.
Copyright 1990 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.

Review

The Age of Diminished Expectations is a remarkable achievement, a quick read that tells you much of what there is to know about the great economic issues of the day.
—Peter Passell, New York Times Book Review

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Product Details

Paperback: 244 pages
Publisher: The MIT Press; 3 edition (August 8, 1997)
Language: English
ISBN-10: 0262611341
ISBN-13: 978-0262611343
Product Dimensions: 8.9 x 5.9 x 0.5 inches
Shipping Weight: 12.6 ounces (View shipping rates and policies)

Average Customer Review: 3.8 out of 5 stars See all reviews (19 customer reviews)

Amazon.com Sales Rank: #315,221 in Books (See Bestsellers in Books)

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Citations (learn more)

100 books cite this book:

Management Strategies that Make U.S. Firms Competitive in the Global Economy (Garland Studies on Industrial Productivity) by Ted Reingold on page 36, page 37, and Back Matter
Trade Unions and the Betrayal of the Unemployed : Labor Conflicts During the 1990's (Garland Studies in the History of American Labor) by Immanuel Ness on page 41, page 64, and Back Matter
The American Economy: The Struggle for Supremacy in the 21st Century (Cambridge Studies in Economic Policies and Institutions) by Nicolas Spulber in Back Matter (1), Back Matter (2), and Back Matter (3)
The New Social Contract: America's Journey from Welfare State to Police State by Joseph Dillon Davey in Front Matter, page 37, and Back Matter
Lost Prophets: An Insider's History of the Modern Economists by Alfred L. Malabre in Back Matter (1), and Back Matter (2)

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	65% buy the item featured on this page: The Age of Diminished Expectations, Third Edition: U.S. Economic Policy in the 1990s 3.8 out of 5 stars (19) $16.49
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Customer Reviews

19 Reviews

5 star:		(8)
4 star:		(5)
3 star:		(2)
2 star:		(3)
1 star:		(1)

Average Customer Review

3.8 out of 5 stars (19 customer reviews)

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Most Helpful Customer Reviews

10 of 10 people found the following review helpful:

4.0 out of 5 stars We must strive for more, August 9, 2002

By	Pumpkin King - See all my reviews

Krugman's argument in this book is that the US economy, while not doing badly, isn't doing that well. Surely we can do better if only we expect more from our country. He goes on to provide an amazing economics lesson for the lay reader that discusses major economic topics, recent economic issues that are highly political, large problems with our current system, and what the future might hold. The chapters on international finance are particularly well written.

It's not the most recent of books, but it explains quite a lot of stuff, and most importantly, as with many of Krugman's books, you get to have a feel for the way an economist thinks. Economics is a state of mind in the sense that the more you study it, the more difficult it becomes to connect with other people. They just won't understand how your mind is thinking about things. What Krugman does is to make economics quite understandable without dumbing it down to the point where most academics would discard it as popular junk. He has strong political leanings that you are aware of if you read his column in the Times, but he is smart, and the "Age of Diminished Expectations" is definitely a good read.

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5 of 5 people found the following review helpful:

4.0 out of 5 stars Economics for All of Us, January 3, 2001

By	F. Lybrand "Black Mesa" (Chapel Hill, NC US) - See all my reviews (REAL NAME)

I recently read this book and "Getting it Right" by Barro, both had been assigned reading while I was an undergraduate economics major that I had carefully avoided. Having finished Mr. Krugman's work I very much regret having not read this book earlier (it was my favorite of the two). He does a very good job of writing a well thought out, easy to understand description of the evils of several aspects of our fiscal policy in the US. Two sections in particular, Section III on Policy Problems and Section IV on Financial follies, really spell out the illogical nature of many of our nation's legal and ethical dilemnas. I particularly enjoyed the section on the S&L scandal, which should be required additional reading to "Funny Money" by Mark Singer. It is, to say the least, a fascinating read.

If you are interested in understanding how US fiscal policy should function, or how we have fallen into a trap of lowered expectations with regard to the work of our elected representatives, then this is a book that you would very much enjoy.

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4 of 4 people found the following review helpful:

5.0 out of 5 stars Economics for the Rest of us, February 16, 1998

By	Hiroo Yamagata (Shinagawa-ku, Tokyo Japan) - See all my reviews (REAL NAME)

This review is from: The Age of Diminished Expectations, Third Edition (Hardcover)

I think the above review does not do justice to this wonderful book. It doesn't say"Japan is coming, sky is falling" at all, this is exactly the sort of thing he criticizes in the book. One of the great thing about this book, however, is that he does try to give a fair explanation of various theories, even when he doesn't agree with them. You always get the fair and whole picture of the issue at hand. A great book, almost everything you need to know about economics as a layperson is here.

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Most Recent Customer Reviews

2.0 out of 5 stars Dull as...
...dry toast. Required for an international economics course. Grossly overpriced. Kept putting me to sleep. ZZzz...

Published 8 months ago by R. Sells

5.0 out of 5 stars Flexible labor markets made room for all the new entrants and limited wage increases to rates consistent with slow productivity
1. In Europe between 1973 and 1985 there were no job creation and unemployment increased fivefold.
2. Read more

Published 8 months ago by Golden Lion

5.0 out of 5 stars Concise, straight to the point
Very good book by the 2008 prize in memory of Alfred Nobel: Paul Krugman.
Each chapter is a synthesis of facts and theory so that one may understand the economic theory... Read more

Published 11 months ago by Massimo Ferrari

1.0 out of 5 stars He gets it wrong every time
It is amazing what a poor predictor Krugman is. You can, with about 80% probability of being right, take what he says to be wrong. Read more

Published on July 9, 2007 by Sam

4.0 out of 5 stars A little outdated, but educational
Thanks to Paul Krugman, I learned things related to economics from his book "The Age of Diminished Expectations" I did not at university. Read more

Published on June 6, 2006 by the anarchist

3.0 out of 5 stars Useful and Annoying
Krugman obviously knows his economics and this book serves as a concise overview of U.S. Economic policy for those already familiar with basic economics. Read more

Published on June 17, 2003 by T. Sorensen

3.0 out of 5 stars Excellent analysis. Poor forecast.
Paul Krugman is a world class economist. He foresees and understands economic trends better than most. Read more

Published on May 29, 2003 by Gaetan Lion

2.0 out of 5 stars A View From Outdated Perspective
Economics has passed by the old Harvard/Cambridge
view of the world. Mr. Krugman is an excellent
writer with good sense of old-fashioned trade
theory. Read more

Published on February 5, 2002 by Jacob Klein

5.0 out of 5 stars A wonderful introduction to great economic thought
Krugman is an excellent writer and a superb economist. This book admirably combines those traits. Krugman's grasp of economic theory and economic reality means that this is a... Read more

Published on December 8, 2001 by Marty McFly

4.0 out of 5 stars Concise, with insight...and a bit dated...
This book briefly explains many aspects of the economy including unemployment, inflation, free trade, etc. at a professional level. Read more

Published on November 23, 2001 by Rob Scott

› See all 19 customer reviews...

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