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  • 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

    

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• ― Marko 45142 said on Feb 24, 2009 | Add your feedback

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  • A very good, easy to understand, introduction to the causes of recessions and depressions.

    

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• ― pktechgirl said on Dec 31, 2008 | Add your feedback

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.

• great depressioneconomicsfinancial bubble