Thursday, April 28, 2011
pg. 386-388
In the 1990’s there was a publishing battle between Greg Mankiw and Paul Krugman on who was to be the leader of the new intermediate textbook in economics. The goal was “to integrate the insights of both New Classical and New Keynesian economics.” Mankiw decided to switch things up by publishing a book that began with the growth theory and making his text book significantly shorter than his predecessors. He also decided against using his former publisher and instead, put the book up for auction. It was bought by Harcourt Brace Jovanovich for $1.4 million dollars, making Mankiw the leader in economic textbooks. Everyone was expecting Paul Krugman to overtake him, but because of a move back to MIT and a new job as a columnist at The New York Times, his textbook publication was put on hold. In 2005 he was finally able to publish his book.
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This was actually posted on Friday because google books was giving me some trouble.
ReplyDeleteA for Mitch.
ReplyDeleteIn many ways, the reason that ECON 3020 is all growth is because of Mankiw's book. He put growth up front ... and made it easy for people like me to decide to cover growth and not worry if we didn't get to the other stuff.
All of you ought to consider reading Krugman's "popular" economics books, as cited by Warsh.
These days, we associate Krugman with his anti-Republican position. But, prior to becoming a columnist, he wrote excellent middle-of-the-road books about economics.