Paul Krugman, the winner of the 2008 Nobel Prize in Economics, highlights the similarities between today's crisis and the events that caused the Great Depression, explaining what is required to avoid disaster. In his book "The Return of Depression Economics," Krugman examines the economic crises that hit Asia and Latin America, warning that these crises are a sign for all of us: the economic ailments that caused the Great Depression are returning.
When the U.S. housing bubble burst, the financial system proved to be as vulnerable as those in developing countries. In the updated edition of the book, Krugman demonstrates how the failure of regulation to keep pace with an increasingly out-of-control financial system created the conditions for the greatest financial crisis since the 1930s. He outlines the steps that must be taken to contain the crisis and reverse the global economy that is sliding into a deep recession.
The book is well-written in Krugman's characteristic style—clear, lively, and highly informative. This new edition will become a significant pillar of the discussion on tackling the crisis.
Pages: 208, Dimensions: 13x13cm
