Return of Depression Economics and the Crisis of 2008

ISBN-10: 0393071014

ISBN-13: 9780393071016

Edition: 2009 (Revised)

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Description: Our newest Nobel Prize-winning economist shows how today's crisis parallels the events that caused the Great Depression-and 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 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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Book details

List price: $24.95
Copyright year: 2009
Publisher: W. W. Norton & Company, Incorporated
Publication date: 12/1/2008
Binding: Hardcover
Pages: 288
Size: 6.50" wide x 9.50" long x 0.75" tall
Weight: 1.012
Language: English

Paul Krugman was born on February 28, 1953. He received a B.S. in economics from Yale University in 1974 and a Ph.D from MIT in 1977. From 1982 to 1983, he worked at the Reagan White House as a member of the Council of Economic Advisers. He taught at numerous universities including Yale University, MIT, UC Berkeley, the London School of Economics, and Stanford University before becoming a professor of economics and international affairs at Princeton University in 2000. He has written over 200 scholarly papers and 20 books including Peddling Prosperity; International Economics: Theory and Policy; The Great Unraveling; and The Conscience of a Liberal. Since 2000, he has written a twice-weekly column for The New York Times. He received the 1991 John Bates Clark Medal and the 2008 Nobel Memorial Prize in Economic Sciences. His title End This Depression Now! made The New York Times Best Seller List for 2012.

Introduction
"The Central Problem Has Been Solved"
Warning Ignored: Latin America's Crises
Japan's Trap
Asia's Crash
Policy Preversity
Masters of the Universe
Greenspan's Bubbles
Banking in the Shadows
The Sum of All Fears
The Return of Depression Economics
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