The Age of Diminished Expectations 3rd Edition or Beslan

The Age of Diminished Expectations, 3rd Edition: U.S. Economic Policy in the 1990s

Author: Paul Krugman

Paul Krugman's popular guide to the economic landscape of the 1990s has been revised and updated to take into account economic developments of the years from 1994 - 1997. New material in the third edition includes:

• A new chapter--complete with colorful examples from Llyod's of London and Sumitomo Metals--on how risky behavior can lead to disaster in private markets.
• An evaluation of the Federal Reserve's role in reining in economic growth to prevent inflation, and the debate over whether its targets are too low.
• A look at the collapse of the Mexican peso and the burst of Japan's "bubble" economy.
• A revised discussion of the federal budget deficit, including the growth concern that Social Security and Medicare payments to retiring baby boomers will threaten the solvency of the government.

Finally, in the updated concluding section, the author provides three possible scenarios for the American economy over the next decade. He warns us that we live in age of diminished expectations, in which the voting public is willing to settle for policy drift--but with the first baby boomers turning 65 in 2011, the economy will not be able to drift indefinitely.

Library Journal

This book occupies fairly rare territory: the middle ground. Krugman's most likely scenario for the 1990s is neither crash nor boom but a continuation of the 1980s, with some unemployment, more inflation, and only slow growth in income. Surprisingly, Krugman notes, the public will continue to be satisfied with this performance. Designed for the general reader, the book covers the important economic problems and proposed solutions. One also discovers which problems should be real concerns and which are even amenable to solution. Recommended especially for public libraries as a well-balanced introduction to the 1990s.-- Richard C. Schiming, Mankato State Univ., Minn.

Booknews

Targets human factors and how they affect the implementation of any kind of automation in the information system environment. Includes discussion of: accurately portraying the apparent whimsy of upper management; tactics, strategy negotiation, and politics; reorganization, new employers, and new management. A rare, non-technical, non-apocalyptic account of the economy. Krugman (economics, MIT) describes more than predicts, but does think there will be no bust, no boom, a few whimpers, a sigh or two: things could be better, but they could be worse, and we don't expect much anymore. Originally published as a Washington Post Company Briefing Book. Annotation c. Book News, Inc., Portland, OR (booknews.com)

Table of Contents:

	Foreword
	Preface
	Introduction	1
I	The Roots of Economic Welfare	9
1	Productivity Growth	13
2	Income Distribution	23
3	Employment and Unemployment	31
II	Chronic Aches and Pains	39
4	The Trade Deficit	43
5	Inflation	59
III	Policy Problems	69
6	Health Care	73
7	The Budget Deficit	85
8	The Embattled Fed	101
9	The Dollar	111
10	Free Trade and Protectionism	123
11	Japan	137
IV	Financial Follies	155
12	The Savings and Loan Scandal	159
13	Corporate Finance	169
14	Global Finance	185
V	American Prospects	203
15	Happy Ending	207
16	Hard Landing	213
17	Drift	225
	Index	233

See also: Official Guide for GMAT Review or Debt Cures They Dont Want You to Know About

Beslan: The Tragedy of School No. 1

Author: Timothy Phillips

On the morning of September 1, 2004, the children of Beslan were excited about the start of a new school year. But as traditional festivities got underway, heavily armed terrorists stormed the school playground, changing ordinary lives in the southern Russian town forever. At least 330 parents and children were killed, some in the massive explosions that tore through the gymnasium, some caught in the crossfire of a three-hour gun battle between the Russian forces and the terrorists. This riveting account not only covers the three days of unimaginable terror and suffering that followed, but includes the people of Beslan speaking in their own words about their ordeal and about their lives in this deeply fractured region. The human story of the siege is here—including the terrible toll that thirst, hunger, and sleeplessness took on the hostages, and the bravery of those who dealt with the terrorists, such as the elderly headmistress of the school and the doctor who tried to relieve the children's suffering. This account also examines the authorities’ response to the siege, finding it wanting, and ultimately places the events of September 2004 in their wider context of centuries of conflict and enmity in the Caucasus.

Scotsman

Timothy Phillips [is] a brave and sensitive writer whose book alternates between a minute-by-minute account of the Chechen separatists' three-day siege and a decade-by-decade summary of its causes-incompetence, arrogance, social decay and corruption.