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The most celebrated economist of his generation.
Product Description
The New York Times bestseller: the Nobel Prize–winning economist shows how today's crisis parallels the Great Depression—and explains how to avoid catastrophe. With a new foreword for this paperback edition.
In this major bestseller, Paul Krugman warns that, like diseases that have become resistant to antibiotics, the economic maladies that caused the Great Depression have made a comeback. He lays bare the 2008 financial crisis—the greatest since the 1930s—tracing it to the failure of regulation to keep pace with an out-of-control financial system. He also tells us how 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 has become an instant classic. A hard-hitting new foreword takes the paperback edition right up to the present moment.
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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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