The Return of Depression Economics and the Crisis of 2008

  • by Paul Krugman
  • Narrated by Don Leslie
  • 6 hrs and 32 mins
  • Unabridged Audiobook

Publisher's Summary

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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Customer Reviews

Most Helpful

Buy the printed book

A very interesting analysis of the causes of and remedies for the current and historical recessions and depressions, and the actions that have been taken and could be taken to ameliorate them. However, I recommend that the book be enjoyed in hard copy rather than in audio. The material is dense, and Krugman throws out references to many technical aspects of domestic and international finance. Although Krugman states at the outset that he's trying to avoid economic jargon and abstruse economic concepts, so that a broader audience can understand his analysis, he assumes a level of understanding of the forces that operate in finance that I believe most listeners won't have.
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- John Satterfield

Lucid and informative to the Nth degree

I've followed Krugman in the NYT for some time, so was much gladdened by the appearance of his work on Audible. The work requires the listener pay attention -- not as if you were defusing a bomb, but definitely more than a piece of pure fiction. The historical perspectives are truly enlightening in their own right, but as the basis for understanding the present superbly invaluable. Krugman's analysis is supported my much experience, data, and a superbly trained eye. That's why I think this work can be fairly classified as neutral in political perspective. He lets the evidence make his point and strengthen his conclusions, which makes for, in my mind, a very credible description of why we are where we are, and where we need to go next. As I said at the onset one needs to focus when listening as the work will engage one's critical listening skills if your to enjoy the work. Again, a masterful piece of historical analysis and explanation of the present. Well worth the buy!!
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- Edwin

Book Details

  • Release Date: 12-23-2008
  • Publisher: Random House Audio