"A harsh indictment of the Bush Administration...[from] a first-rate economist."

--The New Yorker

"Lively, lucid, witty, superbly informed, Paul Krugman’s commentary on the state of the union is required reading for anyone concerned about the American future."

--Arthur M. Schlesinger, Jr.

This national bestseller from one of our most important political commentators chronicles the dangers of an administration that has raised dishonesty to dizzying heights. Award-winning economist Paul Krugman exposes the devastating facts that speak for themselves. From identifying the flaws in George W. Bush’s economic plans to telling the story behind California’s energy crisis, to revealing the administration’s reasons for going to war in Iraq, Krugman offers compelling justification for his criticisms and sets the first years of the twenty-first century in a stark new light. This up-to-date edition includes a new introduction and other material that reflect the events of 2004.

Acknowledgments

Introduction to the Paperback Edition

Preface

Introduction: A Revolutionary Power

Ⅰ BUBBLE TROUBLE

Ⅱ FUZZY MATH

Ⅲ VICTORS AND SPOILS

Ⅳ WHEN MARKETS GO BAD

Ⅴ THE WIDER VIEW

Ⅵ ONE YEAR LATER

Index