| The Age of Diminished Expecations is a remarkable achievement， a quick read that tells you much of what there is to konw about the great economic issues of the day." -Peter Passell， New York Times Book Reivew. Paul Krugman s essential guide to the economic landscape of the 1990 s has been revised and updated to include a new introduction in which Krigman connects George Bush s fall from office to simmering dismay over a long-term economic slowdown. There is a new chapter on international finance that focuses primarily on European monetary affairs， and a new chapter on health care that examines why costs have exploded and explains how managed competition and alternative systems would work ， and why it is so difficult to control rising health care costs. There are smaller additions throughout the rest of the book. These include a discussion of how people misunderstand the relationship between productivity and competitiveness; the very minor industrial policy proposals that have been made thus far; new data reflecting even larger gains for the wealthy than have been thought; a prediction that Clinton s tax plan will have only a small impact; a discussion of the junk bond market collapse; and the startling produtivity numbers for 1992. |
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