Return Of Depression Economics

Product Description

Paul Krugman winner of the 2008 Nobel Prize in economics shows how todays crisis parallels the events that caused the Great Depression
- & explains what it will take to avoid catastrophe. In 1999 in The Return of Depression Economics" Paul Krugman surveyed the economic crises that had swept across Asia & Latin America & warned 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 & 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
- & 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 & 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 & turn around a world economy sliding into a deep recession. Brilliantly crafted in Krugmans trademark style-lucid lively & 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."