Excerpt from The Great Unraveling by Paul Krugman, plus links to reviews, author biography & more

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The Great Unraveling

Losing Our Way in the New Century

by Paul Krugman

The Great Unraveling by Paul Krugman
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  • First Published:
    Sep 2003, 426 pages
    Paperback:
    Aug 2004, 480 pages

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Print Excerpt


But I'm not part of the gang—I work from central New Jersey, and continue to live the life of a college professor—so I never bought into the shared assumptions. Moreover, I couldn't be bullied in the usual ways. The stock in trade of most journalists is inside information—leaks from highly placed sources, up-close-and-personal interviews with the powerful. This leaves them vulnerable: they can be seduced with offers of special access, threatened with the career-destroying prospect that they will be frozen out. But I rely almost entirely on numbers and analyses that are in the public domain; I don't need to be in the good graces of top officials, so I also have no need to display the deference that characterizes many journalists.

Whatever the reason, I have spent much of the last three years providing a picture of the world that differs greatly from the vision of most other mainstream pundits. (Web-based commentators have done yeoman duty—but they don't land on a million doorsteps twice a week.) One of the columns in this book is titled "An Alternate Reality"; that about captures it. At a time when most pundits were celebrating the bold vision, skill, and moral clarity of our leaders, I saw confusion, ineffectuality, and dishonesty. It wasn't a popular point of view, especially in the early months after September 11. But have I been right? Read the book and decide for yourself.

From The Great Unraveling: Losing Our Way in the New Century by Paul Krugman. Copyright Paul Krugman. All rights reserved. No part of this book may be reproduced without written permission from the publisher.

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