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Product Details
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In 1999, in The Return of Depression Economics, Paul Krugman surveyed the economic crises that had swept across Asia and Latin America, and pointed out that those crises were a warning for all of us: like diseases that have become resistant to antibiotics, the economic maladies that caused the Great Depression were making a comeback. In the years that followed, as Wall Street boomed and financial wheeler-dealers made vast profits, the international crises of the 1990s faded from memory. But now depression economics has come to America: when the great housing bubble of the mid-2000s burst, the U.S. financial system proved as vulnerable as those of developing countries caught up in earlier crises--and a replay of the 1930s seems all too possible.
In this new, greatly updated edition of The Return of Depression Economics, Krugman shows how the failure of regulation to keep pace with an increasingly out-of-control financial system set the United States, and the world as a whole, up for the greatest financial crisis since the 1930s. He also lays out the steps that must be taken to contain the crisis, and turn around a world economy sliding into a deep recession. Brilliantly crafted in Krugman's trademark style--lucid, lively, and supremely informed--this new edition of The Return of Depression Economics will become an instant cornerstone of the debate over how to respond to the crisis.
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Most helpful customer reviews
15 of 16 people found the following review helpful
5.0 out of 5 stars
A Succinct Case for Demand Side Economics,
By
This review is from: The Return Of Depression Economics And The Crisis Of 2008 (Hardcover)
The title of this book had me a bit worried. I thought Krugman, who won the Nobel Prize in economics in 2008, believed that we are about to experience another Great Depression. Fortunately, he does not. Krugman does believe, however, that the current crisis is in many ways similar to past crises, and that we can find the cure by looking at those past crises, including the Great Depression. Krugman argues that monetary policy (adjusting interest rates) simply cannot fix a crisis like this, once it has started. The solution is spending. That is the only way to stimulate the economy and get it back on track.This is an easy book to read. Krugman has a real talent for explaining complex concepts clearly and succinctly. He uses simple examples that are easy to understand, and stays away from complicated math and charts. Of course, the underlying concepts are based on and derived from a deeper understanding, but the concepts in this book are distilled to their essence for a general audience.
5 of 5 people found the following review helpful
5.0 out of 5 stars
Great Book,
By Jacobs (Canada) - See all my reviews
This review is from: The Return Of Depression Economics And The Crisis Of 2008 (Hardcover)
This is an excellent book on the present world economic crisis. Has initiated many debates around our 'weekend' breakfast table. Would highly recommend it to anyone interested in how and why all this current financial mess happened. I highly recommend all of Mr.Krugman's books.
1.0 out of 5 stars
nothing new,
This review is from: The Return Of Depression Economics And The Crisis Of 2008 (Paperback)
This book does little to actually explain the real causes of our present economic situation, and therefore it does not do a good job of providing any viable solution/s. Mr Krugman, like most professional economists, does not seem to be able to look outside the box of status quo economic theory. No new ideas are presented in this book, and the old ideas that are rehashed will only serve to place the US deeper in debt if they are implemented again.A much better book is The End of Money and the Future of Civilation by Thomas H. Greco, Jr. The End of Money and The Future of Civilization
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