The Return of Depression Economics

Front Cover
W. W. Norton & Company, 2000 - Business & Economics - 176 pages
5 Reviews
Today, the tragedy of the Great Depression looks gratuitous and unnecessary: Our economists and policy makers simply have gained too much experience since then. It could never happen again. Or could it? Over the course of the last two years, six Asian economies have experienced an economic slump that bears an eerie resemblance to the Great Depression. Russia defaulted on its debt in 1998 an event that, halfway around the world, drove Brazilian interest rates through the roof and terrified the U.S. bond market. Some of the brightest financiers in the world, working for the Long-Term Capital Corporation, thought they had the market licked only to find themselves in a jam that had all the makings of the overleveraged positions that caused the 1929 stock market crash. Paul Krugman, one of the world's top economists, recounts these events and more: He points out that they raise significant questions for which policy makers may not have answers. This paperback edition features a brand-new preface by Krugman on the financial realities of the past year.
  

What people are saying - Write a review

User ratings

5 stars
3
4 stars
1
3 stars
1
2 stars
0
1 star
0

The return of depression economics

User Review  - Not Available - Book Verdict

Krugman (economics, M.I.T.) addresses the question, "Could the world-wide depression of the 1930s happen now?" In this short book, rushed to publication (and showing signs of hasty writing), Krugman ... Read full review

Contents

III
1
IV
21
V
38
VI
60
VII
83
VIII
102
IX
118
X
137
XI
154
XII
169
Copyright

Common terms and phrases

References to this book

All Book Search results »

About the author (2000)

Paul Krugman was born on February 28, 1953. He received a B.S. in economics from Yale University in 1974 and a Ph.D from MIT in 1977. From 1982 to 1983, he worked at the Reagan White House as a member of the Council of Economic Advisers. He taught at numerous universities including Yale University, MIT, UC Berkeley, the London School of Economics, and Stanford University before becoming a professor of economics and international affairs at Princeton University in 2000. He has written over 200 scholarly papers and 20 books including Peddling Prosperity; International Economics: Theory and Policy; The Great Unraveling; and The Conscience of a Liberal. Since 2000, he has written a twice-weekly column for The New York Times. He received the 1991 John Bates Clark Medal and the 2008 Nobel Memorial Prize in Economic Sciences. His title End This Depression Now! made The New York Times Best Seller List for 2012.

Bibliographic information