Summaries and Customer Reviews are supplied by Amazon.com
Summary:
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.
Customer Reviews:
Average Customer Rating:
Outstanding!
Customer Rating:
Extremely readable explanation of the current US economic crisis, in historical context. Paul Krugman makes a strong case for his prescription to get our economy back on a sustainable track.
Provides a good understanding of modern economic collapses
Customer Rating:
Provides a good understanding of modern economic collapses of other countries: tiawan, japan, singapore, argentina, mexico, and russia. lessons on how to pull out of a slump or how to make them worse.
Necessary information
Customer Rating:
Excellant information which every informed citizen needs. Krugman makes economics understandable. A must read.
lucid, description of the forces at play
Customer Rating:
Krugman is a superb communicator, as evidenced by his semi-weekly columns in the NYT. This book is written at the same level, and not that of an economic text. It clearly describes the economic forces which have resulted in booms and busts, the role of confidence, of lending, of hedge funds, greed, and the learning curve of the regulators and governments which try to prevent or cope with the down-turns.
Very informative and easy-reading at the same time
Customer Rating:
I was really positively surprised that a book written by a Nobel-Prize winner in economics can be as exciting as a detective story. This is partly thanks to the jargon-free language but equally thanks to a great talent of Mr Krugman to present complicated issues in a clear way (which is not to say that the Author has answers to all questions - just the opposite). To me the most shocking discovery was the statement that American society enjoyed economic prosperity in the years since 1989 thanks to bubbles - in the shares market and then in the real estate market. Now they need another bubble to prosper - would you believe that???
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