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.


See More Like This

Customer Reviews

Most Helpful

Resting on his "Laureates"?

I spent 2 credits hoping it would be worth it. It was not. Many leaps of faith - especially claiming that WWII was a Keynesian stimulus. CCC and WPA were, but WWII? Also, suggests there is a simple solution to the problems of the day, but this Nobel Laureate doesn't tell us what it is. Let me try. Work hard, spend less, import less, export more. It's a global economy with global competition. Geez. He gets three because there is much worse out there, but definitely not what I expected.
Read full review

- Robert A. Handler

don't waste your money

I was very very disappointed with this book. I love Paul Krugman but hated this book. I could not believe that a Nobel Prize winner could write a book about the most important crisis facing the world today and not have any original ideas about how to get us out of this mess. Moreover, the book title is totally misleading - only a small portion of the book (the very last chapter) discusses the current crisis. And that chapter does little more than repeat what Krugman says in his NY Times column - the government should spend our way out of the crisis. The rest of the book is an economic history lesson of what happened in all the other economic crises since the Great Depression. And it is not even a very good history lesson. Not only was the book bad but the narrator was also bad. I could not stand to listen to his condescending tone. Save yourself the time and the credits. If you are interested in reading what Krugman thinks read his column. If you are interested in an economic history book (which this is) there are much better ones out there to read.
Read full review

- dervish

Book Details

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