Rating: 
Summary: The Great Unraveling
Review: Clealy written by a truth twisting low life liberal. One who is surely in bed with Bill and Hillary Clinton and part of their propaganda slime and spin machine.
Rating: 
Summary: Be aware of the American Taliban
Review: Krugman exposes the Talibanization of American politics by the ultra right wing money-chasers who occupy the white house presently. Some of the right wing reviewers have obviously put a negative spin on Krugman's book, so I will just take one of them and unspin it for you. One of these reviewers makes four points as follows. Let me take them one at a time. The reviewer says, quote,
"1. Krugman argues that the series of Bush tax cuts decimated the 'Clinton Surplus', and sparked the 2000-2003 recession. But the recession started in the last quarter of 2000, well before Bush was inaugurated. Similarly, the stock market began to plunge in March of 2000." Yes, that is true, but what exactly did Bush do to deal with the recession. The credit goes all to Alan Greenspan who with a series of (about a dozen )rate cuts spurred home buying and investment, like never before in the history of FOMC. Bush had many options including a tax cut for middle class (but Bush gave most of it to the top 1% rich, who are least likely to "increase" spending), short term stimulus (but Bush gave a long term stimulus through tax cuts to rich that will become effective years from now), and stimulus through aid to majority of the states in deficit (but Bush chose spending those hundreds of billions in Iraq instead, a war that will create more terrorism instead of curing it).
The reviwer goes on, quote.
"2) Krugman is nominally a Keynesian, but only if a Democrat is in the White House. Keynesian theory argues that in a recession, loose monetary policy is called for---cut taxes and spend like crazy. Yet in the face of a recession made worse by the 9/11 attacks, Krugman would have the President's economic team *raise* taxes and *cut* spending, a recipe that would have curtailed investment and tightened the money supply. In other words, Krugman criticizes Bush for doing the very things that a good Keynsian (the Keynesian Krugman used to be) would do to stave off a recession." The reviewer reveals his ignorance - he is talking about FISCAL POLICY, but calls it monetary policy. Monetary policy is doing just fine in the hands of Alan Greenspan. Regarding fiscal policy, lets be clear that Krugman has never opposed short term stimulus consistent with Keynesian economics. But what Bush is giving is LONG TERM stimulus to his rich buddies - a recepie not called for right now. Also, see the comment above for the right appraoch to shorter term fiscal stimulus. The reviewer continues, quote,
"3) Krugman blasts the Bush Administration for currying favor with big business---like Enron---by pushing for business-friendly loopholes. He's right to call for corporate governance reform, but it's hard to take his tirade on Bush's Enron connection seriously, given that in 1998 he was a paid Enron consultant (taking in more than USD 50,000 per year from the firm) and a member of Enron's Outside Advisory Board of Directors. Moreover, contrary to Krugman's analysis, for all Enron's political donations, the Bush White House did nothing to save the firm." Krugman was not an "elected politician" who was involved in getting favors (Bush and his buddies were). Enron was a huge company with many sides (energy, derivatives, etc.) and one cannot blame every one of the hundreds of consultants and clients for what Enron's top brass did by getting favors from Bush's team. PLus, Krugman did not continue his consultancy with Enron after 1998. And, why would Bush save this sinking ship anyway? You think Bush would have liked to go down with Enron? Grow up, your arguments border on being silly. Finally, the reviewer says, quote,
"4) Finally, with year-to-year growth in 2003 projected at 5.7%, unemployment falling (at its worst we flirted with 6%, half that of most Western European countries), profit margins at their highest (13.7%) level since 1997, and stock markets roaring again (as of this writing, the NYSE is up 33% since April and the Nasdaq up 70% since October 2002), it's obvious that Krugman is just whistling in the wind." The reviewer likes to make up the numbers it seems. The economy is not growing at 5.7% rate - go check your numbers, Mr. reviewer. And, go back to 1929 and see how many bear traps the market went through before it hit bottom. Unemployment is not falling - every indication is that this is a jobless recovery. It is just that discouraged workers who "stop looking for work" do not count in the official calculations of the unemployment rate. You are dreaming - profit margins are not 13.7% on average. Are you talking about margins before interest etc.? Nasdaq is selling at a p/E multiple of more than 50. Watch this bubble pop within a few more months. U.S. stocks are expensive even now, by any historical measure - ask Warren Buffett or Bill Gross, the two all time gurus of stocks and bonds. The reviewer ends by saying, quote,
"Krugman's book is that most dangerous of works, a disingenuous political broadside masquerading as economics. To those who want to read the book as an inside account of a once fine economist's fall from grace, fine; but to those who want to learn about how the country's economy works, and how government can be used to stave off both inflation and recession, "The Great Unraveling" is worse than useless." This reviewer confuses monetary policy for fiscal policy - so obviously he has no business of judging one of the finest minds in American economic/political landscape. And who said that Krugman must only write economics - as a columnist he writes as much politics as economics. Bush has not helped at all because he failed miserably in providing the big short term stimulus the economy needed. Instead he wasted the hard earned money on giving tax cuts to his rich buddies (who do not stimulate the economy, because they put that extra money in savings, and not consumption) and on a costly war that has all the potential of becoming a national nightmare sooner or later.
Rating: 
Summary: Junk economics
Review: It's no real surprise that the New York Times (particuarly under the Raines regime) let Krugman get away with making fundamentally flawed assertions about the economy, but this rehash of his columns is a bit embarassing for a major publisher. If you're an ardent lefty then this book will make you cheer, for it provides a mantra for hating all things conservative. If you're on the right, you'll notice how shallow and unoriginal the thinking behind it seems to be. Krugman has dumbed down his NYTimes columns so badly that he rarely seems even interested in economics anymore; he's a lot more interested in hating Bush. If you're an academian, you've got to be at least a little disappointed by a book that seems so short on primary research, novel ideas, or even illuminating assessment. Krugman's aw-shucks humility and plainspoken economic commentary at one point was clever. Now it's vitriolic, partisan, and ultimately, a waste of time. There are much better, more credible, and more enjoyable books that are critical of right wing politics. This isn't one of them.
Rating: 
Summary: Krugman will grab your attention...
Review: ...but you should continue with further readings. His new book utilizes much of his academic knowledge in outlining what is wrong with our debt-ridden economy (please do a 'search' on Paul Krugman and see how many other books he's written or co-written on economic theory as well as public policy). Although the current presidential administration is not 100% responsible for everything Krugman lists and explicates, its rashness in dealing with the amalgam of foreign policy and domestic issues certainly hasn't helped focus our country on what needs to be done to avert economic catastrophe (i.e. systemic deflationary depression that will make the Great Depression look like a week's profit taking stock sell-off). There are other works that could veritably supplement Krugman's lastest book, and provide further perspectives: 1) Robert Prechter's brilliant "Conquer the Crash" outlines why depression is practically inevitable (it was recommended to me by fund managers that swear by the guy). Yet, Prechter doesn't stray too much into derisive political territory, which could prove to be a welcomed relief. 2) Billionaire philanthropist and hedge fund manager George Soros wrote two great books called "Open Society" and "On Globalization", both addressing larger economic issues. He's an ardent capitalist who's seen the good and bad, and is credible and generous enough to share it in a potent yet palatable fashion. 3) For sober readers on the quest of figuring out the most relevant and pressing macro-economic issues facing America today, also check out Oxford economist and Financial Times columnist John Kay's "The Truth About Markets" (available on amazon.co.uk). It is very timely writing on the state and nature of pluralistic market economies in general, and the American business model in particular. 4) Lastly, check out anything by 2001 Nobel Laureate in Economics Joseph Stiglitz, especially "Globalization and Its Discontents" and the soon to be released "The Roaring Nineties". People may rail against Krugman for supposedly abandoning his academic roots, yet they could hardly hold a stick against Stiglitz, who's arguably as brilliant as John Nash (according to Stiglitz' former IMF colleagues). Krugman's book is long, detailed and thus seemingly a complete tome, yet readers shouldn't stop with just his book...
Rating:
Summary: Writing on the Cheap
Review: Paul Krugman has written another book on the cheap. The only thing worthy of comment concerning this collection of his newspaper columns is to ask why the NY Times is not more demanding of this guy. At best, his typical column is a rehash of a rehash of a rehash. He apparently thinks quoting other newspapers, magazines and columnists (Time, Knight-Ridder, Robert Novak, etc) to back up his points counts as primary research. So we end up with the standard views of the anti-war left. Iraq never attacked us, they were not a threat, there is no evidence of an Al Qaeda link and N. Korea is a bigger threat. This is Barbra Streisand with a spell-checker. Krugman occasionally appears to have some clue as to the weakness of the position/comment included in his column. So, at the end, he may throw in some unsubstantiated malarkey that may or may not have any relationship to the basic point he was apparently trying to make. Krugman is so loose with the facts, that a veritable cottage industry has grown up devoted to setting the record straight relative to the voluminous misleading and often outright lies that make their twice-weekly appearance in his columns. One of the unfortunate by-products of Paul Krugman is the general coarsening of debate in this country about matters of national concern and security. Krugman knows no bounds to his discussion of issues in his columns....facts don't matter...bashing the evil President is paramount in his view. Krugman has truly become one of this country's most despicable public personalities.
Rating:
Summary: Like or dislike the man's views, this is well written.
Review: In a nutshell, this is a well written, logically structured book on political economy that not only states that Bush's economic policies are bad for the US, but explains why they're bad by using a factual approach. While I don't agree with many of the author's opinions, at least it's possible to disagree honestly with them. If there were more books like this in the popular press, I think the country would be better off.
Rating:
Summary: Krugman Is A Tiresome Person
Review: One of the reviewer's tells us that Krugman's book is a "must read." It's only "must-read" if you haven't already read or heard any one of the seemingly endless number of interviews Krugman has given over the last few weeks as he relentlessly promotes his book. In each one he repeats the same talking points with merciless precision -- same key messages, same metaphors, same lame attempts at humor, same twitching, stammering Woody Allen-esque delivery. The key thought that he endlessly spouts is: "Krugman on the book: 'The central theme is, we're being lied to by our leaders, and I just felt I really needed to put that very strongly in context.'"
Rating: 
Summary: Everything is written for a reason...
Review: Krugman loves the USA and hopes to shed some light on the troubles Bush's partners have brought upon themselves and on us. Unfortunately, for you, dear reader, the majority of the reviews on this page are from Bush's partners, which should tell you just how much they fear someone letting the cat out of the bag. A great book. Buy two. One for you, and one as a gift for a friend sitting on the fence.
Rating:
Summary: Another Hit By Krugman
Review: Although drawn from his twice weekly columns in The New York Times, these are well worth repeat visits.
Rating:
Summary: Bush Is Not To Be Blame For Democracy's Debt & Demographics!
Review: The New York Times Paul Krugman is blaming 3 years of President Bush on a century of errors. What Paul Krugman is missing is his complete misunderstanding of the travails of high debt, demographics and democracy on our society. The book fails to point out the differences that have been occurring since 1930. The Democrats have been spending freely since the days of Roosevelt following Keynesian Economics. They love being Santa Claus by having the government pay for anything and everything that will attract votes and keep them in power. Krugman ignores that the Democratic Leadership use to be careful about this by making sure there was a "Means Tests" to give benefits and entitlements (Giving to People Who Truly Need It To Become More Self-Reliant Later), but they have since abandon such concepts. So today, all children are entitled to school lunches, all elderly citizens are given Medicare and sooner or later only our taxes go up to support such gifts that are not free at all. Even worse public employment keeps growing and for every Public Union job created an added burden is placed on Private Businesses and Employees who pay the taxes. Thus, taxes become higher in federal, state, and local governments destroying incentives to create new jobs.
The author only attacks the Republicans for responding in kind. After years of losing Republicans now know, "Tax Cuts' are just as good as a sale to voters as free spending to counter Democratic power grabs. They propose we all keep more of our money but do nothing to reduce spending even though budgets need only be passed by a simple majority which is in Republican Leadership hands of all three branches at this time. The bona fide result of these two political parties giving away and giving back to American taxpayers is just bigger debt that will have a price eventually to the detriment of every citizen. It happen to Argentina and it is about to happen to Japan too. Both refuse to curtail huge public debt, reduce public employment, and over tax private investments and now are in turmoil because they cannot reduce or expand it without painful political consequences. The author misses the point on Demographics too. Europe average age is soon to be 52 and America's about 30. Both societies simply do not have the young people necessary to support free health care, drugs, and entitlements benefits for the growing elderly. The numbers are not there and nothing can change it, thank you Planned Parenthood? At the same time, America educational advantages have diminished despite over $10,000 provided per pupil. We are now behind, Singapore, South Korea, Taiwan, Germany and United Kingdom for producing engineers and technical workers needed in a High Tech future. The United States squanders more money on "education" than any other country, with mediocre results, according to Organization for Economic Cooperation and Development, a globalize Think Tank in Paris. So just when America needs to educate its workforce beyond high school to keep high paying and thus good tax revenues. Our children cannot afford to pay for the free benefits Democrats want to give to their elderly parents just for votes. America is losing the educational needs to maintain our future prosperity due political demographics. Finally, Democracies are not easy to maintain or keep. Economic chaos, debt, and selling unworkable programs to gain votes to keep power are a sure sign of future troubles. Sooner or later public debt and uncompromising politics combine to make the entire system collapse. Thus, I found Paul Krugman book a good predictor of gloom and doom but far from any kind of sensible evaluation, intelligent discussions and no solutions whatsoever by the author's book. Bashing President Bush is not a solution. I did find his writing on monetary policy by Greenspan worthy of critical fodder since our governments are putting increasing power into institutions free from interference from people. The Fed is no longer accountable to the people, congress, or senate except with appointments every few years. However, Krugman ignores the fact that the Fed Central Bank did master our two biggest former problems of Depression and Inflation. I fear the Fed cannot solve political solutions for our coming economic debt default, or strained demographics of choosing elderly benefits over youthful educational programs. I completely agree with his assessment our U.S. Media have done a terrible job of keeping the public informed. But the author need look no further than his own newspaper's lost of creditability and Bush had nothing to do with that whatsoever. Only recently, the conservatives have found a voice on one TV Network, a number of Talk Radio Shows and the Internet. The abandonment of finding well educated journalists and pushing sound experts of political economic policies to the forefront has given way to too many entertaining college drop outs such as Liberal Mickey Moore and Conservative Rush Limbaugh. I personally respect both of these men but they do need to attend more seminars on political economic policies to bring people together instead of calling others "Stupid White Men" or "A Big Fat Idiot"! I have confidence in our American political leadership finding compromises on spending and tax cuts and choosing what is important for America's future. Unlike the author who wants to blame one President for over 200 years of many Presidents' inherited miscalculations. Republican and Democratic congressional and senatorial leadership need to come together or be changed to confront the coming challenges of America's debt and demographics in our struggle to keep our democracy. The book errors in blaming President Bush just like many others seek to blame President Clinton or other Presidents before both of them, I for one will have none of it! America has choices to make on its future and we need political leadership finding compromise and solutions not pointing fingers of blameworthiness.
| 
