Krugman does it again with an impeccably reasoned history of the interaction between US politics and economics. I wasn't expecting much new, but Krugman repeatedly opened my eyes by putting our current political conflicts in the context of 140 years worth of economic and political history. He documents how the distribution of economic resources are guided not only by Adam Smith's invisible hand but also by politics. He describes how we achieved relative equality with high productivity growth during the 1940-60s, analyzes how political decisions led to our current moderate growth with most of the benefits accruing to a small fraction of the population, and discusses the way movement conservatives have achieved and maintained political power while furthering the economic interests of a small minority. The second half of the book suggests a modest plan for liberals to achieve when they regain political power--beginning with universal health insurance. I've often found it hard to understand what motivates conservatives. I now understand their history and ideas much better. Compromising with them isn't going to work. It will be interesting to see how conservatives respond to this book. They will clearly quibble, attack, and distract, but it is hard to see how they could counteract Krugman's carefully documented main points. This book is a must read for everybody concerned about the direction our country is moving. The timing is propitious as it arrives just as the radical conservative movement is beginning to falter. It refutes essentially every argument radical conservatives use to advance their cause and distort discussions. And it will be the book of the decade if it does begin the process of getting our political discussions about the undoing our social safety nets back to where they were in the 1950s. Krugman quotes Eisenhower as writing of those who would "attempt to abolish social security, unemployment insurance, and eliminate labor laws and farm programs...." that "Their number is negligible and they are stupid." Radical conservatives will always be with us, but they do not need to remain in political power.Read full review
This book, written by the Nobel Prize winning economist is a delight to read. Krugman has written a liberal treatise for anyone interested in politics and our country that explains in very simple language why he holds the positions he does. The book includes a brief history of liberalism in the twentieth century and and why the great leaders in that century chose the course they did in terms of legislating for our country. Through his always thorough research, Krugman spells out the importance to the stability and indeed the satisfaction of the people of this country, that creating laws and institutions which serve the greatest number of people fairly can impact positively upon the country and its place in the world. This book articulates very clearly why liberal policies work better in our country and why people are more satisfied under a system where the resources are distributed more evenly ; why not allowing a few to control the greatest chunk of the wealth in this country creates more stability. One realizes from reading this book that liberalism is the most pragmatic approach to our politics. It harkens the reader back to a time when the government seemed to care more about serving the greatest number of people and not just the special interests of the monied few. I highly recommend this book.Read full review
Excellent source which brings economics, social history, and political history together to demonstrate why our current economy doesn't work as well as it did for the previous 2 generations. Krugman is a must read for those tired of being run over by the corporations and being told "its good for you to be knocked down, builds your character."
Krugman is very persuasive and insightful in this book. It really is a very deep insight into where our nation has been and where it is going. I can't praise this book highly enough.
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