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When economics and ideology mix, the results often sound plausible, but in fact can be terribly wrong and lead to ill-conceived and sometimes dangerous economic policy. For several years, Paul Krugman, author of The Accidental Theorist and one of the most celebrated economists of the '90s, has been punching holes in fashionable ideas such as the logic of supply-side economics and the evils of globalization. The Accidental Theorist is a collection of Krugman's best published and unpublished essays that cover everything from the Asian financial crisis to inflation in America.
Krugman's cause is neither left or right; rather it's the pursuit of clear thinking about economics that's unfettered by ideology. He writes, "But we should never be surprised when prominent people say foolish things about economics. The history of economic doctrines teaches us that the influence of an idea may have nothing to do with its quality--that an ideology can attract a devoted following, even come to control the corridors of power, without a shred of logic or evidence in its favor."
If you've read and enjoyed Krugman's regular column for Slate, "The Dismal Science," or have admired his work in the New York Times, The Washington Monthly, and Foreign Affairs, you'll find that the The Accidental Theorist is a must read. The essays in this book reflect a clairvoyant and playful mind that's patient enough to unravel and simplify--not dumb down--the arcane and lofty ideas of economics to something that the rest of us can understand. Highly recommended. --Harry C. Edwards
From Library Journal
Krugman brightens the "dismal science" of economics with this essay collection clarifying an array of topics from general monetary policy to downsizing to wealth inequality, liquidity, even economic "crank doctrines." Copyright 1999 Reed Business Information, Inc.
Peter Passell, New York Times Book Review
Everything Mr. Krugman has to say is smart, important and even fun to read . . . he is one of a handful of very bright, relatively young economists who do everything well.
The Economist
[Paul Krugman is] probably the most creative economist of his generation.
Washington Post, 14 June 1998
Krugman specializes in decidedly non-boring essays on economic topics....Supply-side economics, downsizing, globalization, the trade deficit, the growth potential of technology: There's no recent economic debate that Krugman won't weigh in on.
From Booklist
In Peddling Prosperity (1994), Krugman skewered economic shibboleths espoused by both the Left and the Right; the collected essays here both confirm his iconoclastic stance and demonstrate that economic prose needn't be dull. Culled mainly from the online magazine Slate, the pieces key off some topical event--headlines about downsizing, supply-side economics, or globalization of markets. Observing prominent people seemingly self-confidently expounding on such issues, Krugman likes to puncture their proclamations as the posturing of ignorance. In France, for example, socialists devoutly believe that the solution to that country's chronic unemployment is shortening work hours and increasing government handouts. It never works, and every economist agrees why. In America, an opposite article of faith for conservatives, that current tax rates stifle growth, doesn't explain the present boom. Krugman spices these 25 articles with pungent opinions and clearly explained principles that should enlighten those rightly skeptical of politicians' sound-bite assertions masquerading as economic facts. Gilbert Taylor
Rob Norton, Fortune
[Paul Krugman] writes better than any economist since John Maynard Keynes.
Virginia Quarterly Review, Vol. 75, No. 1
Read this book. That may be a little dogmatic, not to say cliched. Nonetheless, it's good advice. Paul Krugman is opinionated and arrogant. He's also immensely clever and both able and willing to write about all manner of important issues with the perspective of an economist.
Book Description
In this wonderfully cohesive set of sharp and witty essays, Paul Krugman tackles bad economic ideas from across the political spectrum. In plain English, he enlightens us on the Asian crisis, corporate downsizing, and the globalization of the American economy, among other topics. The writing here brilliantly combines the acerbic style and clever analysis that has made Krugman famous. Imagine declaring New York its own country and you get a better picture of our trade balance with China and Hong Kong. Try reducing the economy to the production of hot dogs and buns and you'll understand why common beliefs about the impact of production efficiency on labor demand are wrong. This is a collection that will amuse, provoke, and enlighten, in classic Paul Krugman style.
About the Author
Paul Krugman teaches at the Massachusetts Institute of Technology in Cambridge, Massachusetts.
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