The Return of Depression Economics and the Crisis of 2008

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W. W. Norton & Company, 2009 - Business & Economics - 191 pages
6 Reviews
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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Great Read

User Review  - MR.AutoGlass22 - Borders

Paul Krugman displays macroeconomic failures as smoothly as possible. Although we have gone through so many currency failures around the world, our experience from the first depression has helped us ... Read full review

History Repeats Itself

User Review  - Anonymous - Borders

Paul Krugman did a great job on this book! one of the things I like about him is that he writes about economics like he is writing for his Economics-1 class: his explanations are easy to understand ... Read full review

Selected pages

Contents

INTRODUCTION
3
About This Book
6
THE CENTRAL PROBLEM HAS BEEN SOLVED
9
WARNING IGNORED LATIN AMERICAS CRISES
30
JAPANS TRAP
56
ASIAS CRASH
77
POLICY PERVERSITY
101
MASTERS OF THE UNIVERSE
119
GREENSPANS BUBBLES
139
BANKING IN THE SHADOWS
153
THE SUM OF ALL FEARS
165
THE RETURN OF DEPRESSION ECONOMICS
181
ABOUT THE AUTHOR
193

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About the author (2009)

Paul Krugman is the recipient of the 2008 Nobel Prize in Economics. He is a best-selling author, columnist, and blogger for the New York Times, and is a professor of economics and international affairs at Princeton University.

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