Friday, February 6, 2009

He Told You So

Paul Krugman's influence on American politics has become indispensible. At the same time, like most macroeconomists, he can underestimate the technological (read, entrepreneurial) revolution that's hit the real economy in recent years--you know, the business innovations whose details that other Times columnist sweats. It is clear from his work that government must (in Adam Smith's phrase) "facilitate commerce in general." But it is not always clear how. My review in The Nation of his prophetic book from 1999, The Return of Depression Economics, can be read here.

4 comments:

Anonymous said...

Thanks, Mr Avishai. I enjoy reading your blog.

jim said...

lucid and absorbing. one of the only things i've read recently that i could actually digest the content. in the midst of the vertical renaissance seems like there's lots of fluctuation. a bunch of them blacksmiths didn't make it to being car mechanics. the invention of code is as significant as the original invention of language, and as irrevocable in scope and impact. a tool that allows you to restructure manufacturing, infrastructure, consciousness, materiality, or genetic sequence. distorting and collapsing antiquated businesses and global finance seems reasonable to me. a spherical handball game at best.

very fine writing thanks

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