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The Great Unraveling: Losing Our Way in the New Century (Updated and Expanded) (Paperback)

~ Paul R. Krugman (Author) "A LOT HAS HAPPENED these past three years-stock market decline and business scandal, energy crisis and environmental backsliding, budget deficits and recession, terrorism and troubled..." (more)
Key Phrases: future tax cuts, payroll tax receipts, surplus projections, Social Security, United States, New York (more...)
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Editorial Reviews

Amazon.com Review

The Great Unraveling is a chronicle of how "the heady optimism of the late 1990s gave way to renewed gloom as a result of "incredibly bad leadership, in the private sector and in the corridors of power." Offering his own take on the trickle-down theory, economist and columnist Paul Krugman lays much of the blame for a slew of problems on the Bush administration, which he views as a "revolutionary power...a movement whose leaders do not accept the legitimacy of our current political system." Declaring them radicals masquerading as moderates, he questions their motives on a range of issues, particularly their tax and Social Security plans, which he argues are "obviously, blatantly based on bogus arithmetic." Though a fine writer, Krugman relies more heavily on numbers than words to examine the current rash of corporate malfeasance, the rise and fall of the stock market bubble, the federal budget and the future of Social Security, and how a huge surplus quickly became a record deficit. He also rails against the news media for displaying a disturbing lack of skepticism and for failing to do even the most basic homework when reporting on business and economic issues. The book is mainly a collection of op-ed pieces Krugman wrote for The New York Times between 2000 and 2003. Overall, this format works well. Krugman writes clearly about complicated issues and offers plenty of evidence and hard facts to support his theories regarding the intersection of business, economics, and politics, making this a detailed, informative, and thought-provoking book. --Shawn Carkonen --This text refers to the Hardcover edition.


From Publishers Weekly

"This is not, I'm sorry to say, a happy book," says Krugman in the introduction to this collection of essays culled from his twice-weekly New York Times op-ed column, and indeed, the majority of these short pieces range from moderately bleak political punditry to full-on "the sky is falling" doom and gloom. A respected economist, Krugman dissects political and social events of the past decade by watching the dollars, and his ideas are emphatic if not always well argued. He has a somewhat boyish voice and a pleasingly enthusiastic tone, although his enthusiasm sometimes leads him to take liberties with punctuation. The essays are grouped thematically instead of chronologically, which gives this audio adaptation a scattershot feel. Since these pieces were written over a long stretch of time, certain key ideas recur quite often-political reporters don't pay enough attention to the real news, the Bush administration is dishonest, big corporations are inherently untrustworthy-and can become tedious. To his credit, Krugman is not entirely partisan-he reveals himself to be a free-market apologist-and even listeners who disagree with most of the things he says will likely be taken in by his warm and energetic delivery.
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved. --This text refers to the Audio Cassette edition.
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Product Details

  • Paperback: 480 pages
  • Publisher: W.W. Norton & Co. (August 2004)
  • Language: English
  • ISBN-10: 0393326055
  • ISBN-13: 978-0393326055
  • Product Dimensions: 8.2 x 5.5 x 1.1 inches
  • Shipping Weight: 1 pounds (View shipping rates and policies)
  • Average Customer Review: 3.7 out of 5 stars  See all reviews (219 customer reviews)
  • Amazon.com Sales Rank: #79,445 in Books (See Bestsellers in Books)

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Paul Krugman
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Front Cover | Table of Contents | First Pages | Index | Back Cover | Surprise Me!
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Inside This Book (learn more)
First Sentence:
A LOT HAS HAPPENED these past three years-stock market decline and business scandal, energy crisis and environmental backsliding, budget deficits and recession, terrorism and troubled alliances, and now, finally, war. Read the first page
Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
future tax cuts, payroll tax receipts, surplus projections, prescription drug insurance, more tax cuts, gas intensity, big tax cuts, prescription drug bill
Key Phrases - Capitalized Phrases (CAPs): (learn more)
Social Security, United States, New York, White House, Alan Greenspan, Dick Cheney, George Bush, Bill Clinton, World War, Saddam Hussein, President Bush, Clear Channel, Wall Street, Hong Kong, Karl Rove, Congressional Budget Office, North Korea, National Guard, Treasury Department, Bank of Japan, New Jersey, Fox News, Republican Party, General Motors, Federal Energy Regulatory Commission
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The Great Unraveling: Losing Our Way in the New Century (Updated and Expanded)
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Customer Reviews

219 Reviews
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3.7 out of 5 stars (219 customer reviews)
 
 
 
 
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76 of 79 people found the following review helpful:
4.0 out of 5 stars Read Preface and Introduction, Skip the Rest, September 24, 2003
By Robert D. Steele (Oakton, VA United States) - See all my reviews
(TOP 50 REVIEWER)   
This review is from: The Great Unraveling: Losing Our Way in the New Century (Hardcover)
Edit of 21 Dec 07 to add comment and links.

New Comment: the author was ahead of his time. See new links below.

The book is worth buying for the Preface and Introduction alone. The rest of the book is a somewhat irritating replay of every column the author has ever written, and not nearly as well done or as riveting as, say, Tom Friedman's replays in "Longitudes & Attitudes". However, if you have not read the author's columns, his bite-size descriptions of irrational exuberance, crony capitalism, the failure of the Federal Reserve, fuzzy math, how markets go bad, and global spoilage, then they are all certainly worth browsing.

The Preface has three core ideas: 1) the elites are ruling badly and not beneficially for the majority of the population including all the voters and most of the stockholders; 2) politicians and corporation chiefs are getting away with blatant lies to the public because of a media that avoids critical inquiry; and 3) open sources of information--all that lies in the public domain--are more than adequate for anyone to get a grip on reality.

The Introduction is a bit scarier and more pointed. The author joins Mark Hertsgaard, author of The Eagle's Shadow: Why America Fascinates and Infuriates the World in suggesting that the radical right is creating nothing less than a Reichstag in America. In the author's view, and he quotes Kissinger in chilling terms, the radical right is a revolutionary power that is very deliberately and with malice at all times, rejecting and undermining the democratic rules of the game. In the author's words, the radical right is "a movement whose leaders do not accept the legitimacy of our current political system." The author goes so far as to suggest that the radical right considers elections as "only a formality" and that they will do anything--including subversion of the Constitution--to "win" those elections and reap the domestic and foreign "looting rights."

Disclosure: I used to be a conservative Republican and used to think such ideas were simply over the top. I have been radicalized by the last 200 books I have read (and reviewed on Amazon) and I have to say, while the third of the nation that is close-minded and ideologically-blindered on the right may give the author short shrift, the other two thirds--the drop-outs and splinter parties, and the failing Democrats--they should take Krugman very seriously. He is an economist, teaching at Princeton, not a journalist nor a sensationalist, and in my view, when one combines his book with that of Clyde Prestowitz, a Presbyterian elder and solid Reagan Republican and fiscal conservative (Rogue Nation: American Unilateralism and the Failure of Good Intentions), with that of William Greider, writing on the immorality and social costs of capitalism as we practice it today (The Soul of Capitalism: Opening Paths to a Moral Economy), one can only conclude that the Republic, and that for which it stands, have been hijacked, are being looted, and the American Democratic experiment is on very thin ice.

The index to this book is helpful in running down specific individuals, corporation, and organizations that have committed crimes against the Nation that the author has addressed in his many columns for the New York Times, as repeated in this book.

See also:
The Battle for the Soul of Capitalism: How the Financial System Underminded Social Ideals, Damaged Trust in the Markets, Robbed Investors of Trillions - and What to Do About It
Vice: Dick Cheney and the Hijacking of the American Presidency
Running on Empty: How the Democratic and Republican Parties Are Bankrupting Our Future and What Americans Can Do About It
The Global Class War: How America's Bipartisan Elite Lost Our Future - and What It Will Take to Win It Back
Day of Reckoning: How Hubris, Ideology, and Greed Are Tearing America Apart
Comment Comments (2) | Permalink | Was this review helpful to you? Yes No (Report this)



 
84 of 89 people found the following review helpful:
5.0 out of 5 stars Oustanding, September 15, 2003
By Shihounage (Ny, NY USA) - See all my reviews
This review is from: The Great Unraveling: Losing Our Way in the New Century (Hardcover)
It is a shame that Krugman, a first rate economist, MIT grad, and award winning professor at Princeton will be excorciated by the right as shrill and hackneyed. He is none of those things, nor is his book. The book is an investigation of the economic collapse of America since 2000. It is a 'liberal' book only so far as Krugman can point to the policies of the adminstration which have gotten the US to the point of economic collapse. And he wield numbers mightily. It is his own homework, his own number crunching, his own math based on the economy that leads him to his conclusions. The book does not rely on his opinions of the people that he likes and does not like, so it's difficult to compare it to a Coulter or Franken book.

The book is important and outstanding. It should be required reading for every one of the 3,000,000 Americans who has lost a job in the past three years. It is an argument against supply side economics and deficit spending of the best calibre.

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96 of 103 people found the following review helpful:
5.0 out of 5 stars Clear and Compelling--and Frightening, September 12, 2003
By A Customer
This review is from: The Great Unraveling: Losing Our Way in the New Century (Hardcover)
Krugman is a godsend. As a Princeton economist, he has the training, the time, and most importantly, the job security to take on the huge job of analyzing the Bush administration's policies and exposing them for what they are. The corporate-owned mainstream press must bow to many masters, including popular opinion, and must placate the administration officials they cover for fear of losing the most precious thing in news: access. Krugman has the luxury (if that word applies to the daunting task he's taken on) of assiduously digesting the Bush camp's proposals and actions, including complicated economic plans that most of us have neither the training nor the time to study in detail, and point out in clear language how they differ not only from many of the administration's own statements but from what most people (i.e., the majority of us who aren't millionaires) want out of our government. I've been reading his Times columns faithfully, and find that they have done some of the best work widely available of demonstrating factually just how socially retrograde and economically dangerous the Bush policies are. He details the frightening arrogance and irresponsibility of those at the top of this government, facts that are only now beginning to be brought to the attention of the general public. If you're now surprised by the titanic budget deficit and what it has done and will do to the economy, the huge mess in Iraq--including the deceits that got us involved there in the first place--and the White House's cluelessness in dealing with it, the jobless 'recovery,' critical cuts in basic social services like schools, police and fire houses, health care and more, and revelations about continuing domestic security vulnerabilities, well, none of this is news to Krugman readers. Simply put, he's one of the best.
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Most Recent Customer Reviews

5.0 out of 5 stars A must-read book
Krugman is a genius. Read this book if you can't stand Republicans, and if you're a conservative, read this book to get enlightened.
Published 4 months ago by Gerald M. Jones

3.0 out of 5 stars Not what I expected
I generally like Paul Krugman's writing, so I was disappointed in this book. It is not really a book -- it is a compilation of Krugman's articles for Fortune and other... Read more
Published 5 months ago by C. M. Wood

5.0 out of 5 stars A New Author
Wish I had known about Krugman earlier as I would have read some of his earlier books.
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