If you are interested in the previous recessions in different regions for the past three decades, this is the book you should read. The author uses simple English to give you a general understanding. But somehow the writing is too simple that it does not provoke my any new thinking. That is why I only give it a 3-star rating....Continua
Great book! Krugman uses a very simple and direct approach to explain most depressions in history. Very easy to understand.
However, there isn't deep analysis into one single depression, and I really wish that will happen.
Overall, a very good book to read, full of facts and economics to learn. Depression economics is bACK!...Continua
He is a thorn under Obama's skin even though he is a liberal Democrat. Very interesting read.
The author has successfully impressed me the importance of the depression economy theory with cases of economic depression in the 30's, 70's, 80's and 90's in US, Japan, South America and Asia.
He explained the background for the over-optimistic view of US (and global) economists and government towards control of depression via monetary policy and regulation of financial institution.
He then explained the rise of the interesting "shadow bank sector" -- derivative financial instruments that bear the functions of banks and yet
are beyond the "boring" regulatory system. The shadow bank sector combined with the globalization of financial market to crush the stability of the global financial systems.
The author has made many reference to the Keynesian economic theory....Continua
In the current situation it appears that if the fed. and the gov. read this when it was first published we may have averted the housing bubble and financial crisis. Oh well the Nobel is a good consolation, and a big "I told you so" for Krugman...Continua