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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.
©2008 Paul Krugman (P)2008 Rando House Audio
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Customer Reviews

Most Helpful
3 out of 5 stars
By John Satterfield on 10-13-09

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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9 of 9 people found this review helpful

4 out of 5 stars
By Don on 03-24-09

Depressing necessity!

So much of this book, I did not want to hear. The more I wanted to turn it off, the more I kept listening. Because I spend much time in Bangkok, Thailand, chapter 3 on how crony capitalism in emerging markets really got my attention. The detailed mechanism of the '97 Asian financial crisis, which seems to be repeating itself in the US now, was cogently delineated, albeit with an attitude. Chapter 6 on hedge funds also opened my eyes to the rise and fall of money. Hear it but be prepared to turn it off only to turn it back on again!

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5 of 5 people found this review helpful

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