The accidental theorist : and other dispatches from the dismal science

**"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." — Peter Passell, __New York Times Book Review__** 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. "[Paul Krugman] writes better than any economist since John Maynard Keynes." — Rob Norton, __Fortune__ "[Paul Krugman is] probably the most creative economist of his generation." — __The Economist__ Winner of the John Bates Clark Medal This Analysis Of Poor Economic Reasoning Weaves Together Recent Articles And Addresses, Some Of Them Never Before Published, Into A Short, Compelling Narrative On The Major Issues Of The 1990s: Unemployment, Globalization, Economic Growth, Financial Speculation, ... Corporate Downsizing, And More.--jacket. The Accidental Theorist -- Downsizing, Downsizing -- Vulgar Keynesians -- Unmitigated Gauls : Liberté, Egalité, Inanité -- The Virus Strikes Again -- Supply-side's Silly Season -- An Unequal Exchange -- The Lost Fig Leaf : Why The Conservative Revolution Failed -- Gold Bug Variations : Understanding The Right-wing Gilt Trip -- We Are Not The World -- In Praise Of Cheap Jobs : Bad Jobs At Bad Wages Are Better Than No Jobs At All -- The East Is In The Red : A Balanced View Of China's Trade -- Technology's Wonders : Not So Wondrous --four Percent Follies -- A Good Word For Inflation -- What Is Wrong With Japan? -- Seeking The Rule Of The Waves -- How Copper Came A Cropper -- The Tequila Effect -- Bahtulism : Who Poisoned Asia's Currency Markets? -- Making The World Safe For George Soros -- Earth In The Balance Sheet : Economists Go For The Green -- Taxes And Traffic Jams -- Rat Democracy -- A Medical Dilemma -- The Cpi And The Rat Race -- Looking Backward. Paul Krugman. This new book weaves together recent articles and addresses, some of them never before published, into a short, compelling narrative on the major issues of the late 1990s: unemployment, globalization, economic growth, financial speculation, and more. Some of the pieces start with current issues, like corporate downsizing or the crisis set off by monetary policy in Thailand, while others explode plausible-sounding ideas that happen to be false, like pinning the blame for our economic woes on the internationalization of commerce when the real culprit is a failure of resolve in domestic policy. All are joined by Krugman's characteristically clear-eyed view of the basic economics behind the issues and by the wit and energy with which he applies those principles. At the heart of capitalism's inhumanity-and no sensible person will deny that the market is an amoral and often cruelly capricious master-is the fact that it treats labor as a commodity. Essays review and analyze important economic developments, topics include international trade, globalization, monetary policy, and corporate downsizing