The phrase "and the undervaluing of" is correct and usable in written English.
It can be used when discussing the act of not valuing something or someone appropriately, often in contexts related to economics, social issues, or personal relationships.
Example: "The report highlights the consequences of neglecting education and the undervaluing of teachers in our society."
Alternatives: "and the devaluation of" or "and the underappreciation of".
I'm not convinced by Krugman's take, in part because, like Brad DeLong, I think risk aversion has played a major role in the undervaluing of assets, including mortgages and mortgage-backed securities, and that uncertainty about the continued impact of risk aversion on the value of those assets has made private capital and the banks themselves far more cautious than they normally would be.
The undervaluing of black lives and race-based hate crimes remain a critical issue.
For example, Jane Jacobs' thesis of the "Guardian Ethic" and its contrast to the "Trader Ethic" sought to explain the undervaluing of guardianship activity, including the child-protecting, nurturing, and healing tasks that were traditionally assigned to women.
The undervaluing of women's work and caregiving more generally also plays a role.
Media contributes to the undervaluing of women's current contributions and dissuades young women from envisioning their own power to influence society in important ways.
Research on the undervaluing of care work is ongoing, and new research has also begun to focus on the needs of those caring for veterans, youth who are primary caregivers, and LGBT older adults.
This college sports system contributes to the undervaluing of black lives in American society and our institutions.
For example, should childcare activities "be calculated using the wages of daycare workers or child psychiatrists?" This relates to the problem of depressed wages in female-dominated industries, and whether using such jobs as an equivalent leads to the undervaluing of unpaid work.
The fact that Homer Simpson is the funniest, most prominent and most popular character in that show says far more about continued male dominance of money and power in the west than his fecklessness or misfortunes say about the undervaluing of paternal effort.
· The minimum wage must rise faster than inflation, with an end to the undervaluing of women's jobs.
