This wholly original new work by the best-selling author of The Great Unraveling challenges America to reclaim the values that made it great.

With this major new volume, Paul Krugman, "the heir apparent to Galbraith" (Alan Blinder) and, 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.

"Economist and New York Times columnist Krugman's stimulating manifesto aims to galvanize today's progressives the way Barry Goldwater's The Conscience of a Conservative did right-wingers in 1964. Krugman's great theme is economic equality and the liberal politics that support it. 'America's post-war middle-class society' was not the automatic product of a free-market economy, he writes, but 'was created... by the policies of the Roosevelt Administration.' By strengthening labor unions and taxing the rich to fund redistributive programs like Social Security and Medicare, the New Deal consensus narrowed the income gap, lifted the working class out of poverty and made the economy boom. Things went awry, Krugman contends, with the Republican Party's takeover by 'movement conservatism,' practicing a politics of 'deception [and] distraction' to advance the interests of the wealthy. Conservative initiatives to cut taxes for the rich, dismantle social programs and demolish unions, he argues, have led to sharply rising inequality, with the incomes of the wealthiest soaring while those of most workers stagnate. Krugman's accessible, stylishly presented argument deftly combines economic data with social and political analysis; his account of the racial politics driving conservative successes is especially sharp. The result is a compelling historical defense of liberalism and a clarion call for Americans to retake control of their economic destiny." Publishers Weekly (Starred Review) (Copyright Reed Business Information, Inc.)

"Though an economist by training, Krugman is now an op-ed columnist by vocation. This book shows his increasing tendency to see events through the lens of politics rather than economics. The root cause of rising inequality in the United States, he argues, is political: The GOP has been taken over by bitterly partisan 'movement conservatives' who believe the welfare state is illegitimate and have undermined... Washington Post Book Review (read the entire Washington Post review) it at every turn, cutting taxes on the rich, attacking unions, loosening social restraints on executive pay.

In a short, final section titled 'On Being Partisan,' Krugman justifies his personal politicization. Because ideologues control the Republican Party, 'the notion, beloved of political pundits, that we can make progress through bipartisan consensus is simply foolish,' he writes. 'To be a progressive ... means being a partisan — at least for now.'"

Reviewed by Alan Cooperman, Washington Post Book World (Copyright 2006 Washington Post Book World Service/Washington Post Writers Group)
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The renowned and often controversial columnist for the New York Times talks about how he became the last liberal standing in the mainstream capitalist media, and how he goes about his work. Newspaper columns generally require him to look at issues and trends through the lens of a particular recent event, but here he offers broader perspectives, particularly on equality and the lack of it in various aspects of US society. Annotation ©2008 Book News, Inc., Portland, OR (booknews.com)

"Readers interested in understanding liberalism's decline and radical conservatism's rise can find better books. But those who turn to Mr. Krugman to understand what's unjust about the United States economy, and why it doesn't have to be this way, will be amply rewarded." Peter Beinart, New York Times

"In this ought-to-read for both liberals (many of whom aren't as bright as Krugman) and conservatives (same reason), he displays another gift of great scholars and journalists: pulverizing conventional wisdom." Boston Globe

"[A] book that spends most of its pages making the case for why former first lady Hillary Clinton got it right eight years ago when she railed against 'a vast right-wing conspiracy.'" Pittsburgh Post-Gazette

"Like the rants of Rush Limbaugh or the films of Michael Moore, Krugman's shrill polemic may hearten the faithful, but it will do little to persuade the unconvinced or to advance the national discussion of the important issues it addresses." David M. Kennedy, New York Times

This original new volume by the bestselling author of The Great Unraveling challenges America to reclaim the values that have made it great. Krugman weaves together a nuanced account of three generations of history with sharp political, social, and economic analysis.

Paul Krugman writes a twice-weekly column for the op-ed page of the New York Times. A winner of the John Bates Clark Medal who was also named Columnist of the Year by Editor and Publisher magazine, he teaches economics at Princeton University.