The Conscience of A Liberal

The Conscience of A Liberal

Book - 2007
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With this major new volume, Paul Krugman, today's most widely read economist, studies the past eighty years of American history, from the reforms that tamed the harsh inequality of the Gilded Age to the unraveling of that achievement and the reemergence of immense economic and political inequality since the 1970s. Seeking to understand both what happened to middle-class America and what it will take to achieve a "new New Deal," Krugman has created his finest book to date, a work that weaves together a nuanced account of three generations of history with sharp political, social, and economic analysis. This book, written with Krugman's trademark ability to explain complex issues simply, will transform the debate about American social policy in much the same way as did John Kenneth Galbraith's deeply influential book, The Affluent Society.
Publisher: New York : W.W. Norton & Co., c2007
Edition: 1st ed
ISBN: 9780393060690
0393060691
Call Number: 339.2209 K9396c
Characteristics: viii, 296 p. ; 25 cm

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ANITRA L FREEMAN
Nov 01, 2015

I agree with the ideas Krugman refers to to reduce inequality (summarized by voisjoe1). While these aren't original with Krugman, I think he should be given credit for being a prolific popularizer of these ideas. He also has some lousy ideas, as StarGladiator points out. Just another example of why to read everyone critically, whether you basically agree with them or basically disagree with them. You can learn something even from a fool; you can be deluded about something even by a wise man.

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StarGladiator
Nov 01, 2015

Comment revision: To accurately explain Krugman, one must first define him: a lobbyist for the central banksters. In 1978 the Rockefeller Foundation financed the creation of the Group of 30 [www.group30.org], to represent the central banks, Krugman an early member, just as he once was a member of the Reagan administration. Krugman is well rewarded to mix a few crumbs or positives, with a colossal amount of confusing misinformation and disinformation - - which has been their gameplan, after all, you aren't supposed to know that the group which owns the bank which gave you that mortgage which they then spun off endless credit derivatives - - or debt-based financial instruments - - from, while they own your corporation which offshored your job, and they own your insurance company and the pharmaceutical companies which continue to raise your rates, et cetera, and then they foreclose on you illegally since you lost that job they offshored, then they write off your loan as bad, but take back your house, which they then resell, again spinning off debt-based financial instruments on it, and recoup around 90% of the loan's amount if it was FHA-type loan, et cetera, et cetera, et cetera! [And they own the credit card companies which charge you usurious rates when you max it out to try to make that mortgage! ALL by the same owners, which is why we aren't supposed to know who the owners are!]

Krugman has exposed himself to the world for all to see when he argued with Steve Keen of Australia [Keen corrected Krugmn, stating that banks do indeed create credit, the fundamental basis of the fractional reserve banking system - - and Krugman demonstrated his complete lack of comprehension on anything so simple, or his professional lies]!
Krugman claims the global economic meltdown was due to US household debt!
Claims the banksters are really healthy!
Claimed that the 2008 upward hikes in the oil industry were simple supply & demand, not from speculation!?!?!?
Krugman has made numerous other specious and idiotic claims, just hope to never hear him claim to be a democrat!

voisjoe1 Sep 29, 2012

Paul Krugman describes the Long Gilded Era where the wealthy controlled the country from 1892 until 1932. The presidents were Plutocratic Republicans or Bourbon Democrats leading to inequality and the Great Depression.

FDR reduced inequality through jobs programs, union rights, and social security. In the 1960’s, the Dixicrats fled to the Republican party and developed the “Southern Strategy by appealing to white working class racism. Beginning with Reagan, after 48 years of reduced inequality, the Republican instituted one policy after another to produce a new gilded era where the inequality again increased.

This new super inequality, would be ended when the liberals would be in power because of the overreach of the 1%. Krugman suggests the liberals then reduce inequality by 1) instituting universal health care, 2) eliminating the Bush tax cuts for the upper bracket, 3) eliminating the capital gains low tax rate, 4) ending hedge fund manager tax loop holes, 5) increasing the minimum wage and 6) returning rights to union workers.

Krugman’s number one suggestion to promote more equality has come about with the passage of universal health. The Bush tax cut favoring the wealthy may lapse at the end of 2012. Republican racism might also become less effective with the growth of more tolerant whites and the increase in the Hispanic population.

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