The article entitled Revenge of the Glut was written by a Paul Krugman. Mr. Krugman recieved his Ph. D. from MTT, in 1997, and is currently a proffessor of Economics and International Affairs at Princeton University. And, ever since 1999, he has also worked as a columnest for The New York Times (whose articles appear on the Op-Ed Page). His articles, of caurse, focus on his forte of economic knowlege. Hence, his estensive education and research in the field of economics make him a great asset to any article, as he can offer some valuable insight.
This particular article (Revenge of the Glut) was published in The New York Times, on March 1, 2009. The item was writtern as an attempt to answer the question of where our current economic situation came from. To do this, the author draws a line from the various economic situations of the past, to today. This article is directed torward a curious, open-minded, and politicaly-inclined sector of the American population, who, among themselves, pose some of the same questions as the author.
The basic aurguement Krugman wants to make is that America's entire current-day economic crises can be traced back to a time when everything seemed fairly fine. At one point in the article, Krugman states, "This may explain the almost eerie correlation between conservative praise two or three years ago and economic disaster today." In other words, what some people praised then, they now regret. Also interesting is this, "“Reforms have made Iceland a Nordic tiger,” declared a paper from the Cato Institute. “How Ireland Became the Celtic Tiger” was the title of one Heritage Foundation article; The Estonian Economic Miracle” was the title of another. All three nations are in deep crisis now." This article teaches us that nothing is stable, while also pointing-out some of the U.S. sad mistakes in perspective.
