• The Return of Depression Economics and the Crisis of 2008

  • By: Paul Krugman
  • Narrated by: Don Leslie
  • Length: 6 hrs and 33 mins
  • 4.1 out of 5 stars (273 ratings)

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The Return of Depression Economics and the Crisis of 2008  By  cover art

The Return of Depression Economics and the Crisis of 2008

By: Paul Krugman
Narrated by: Don Leslie
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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 US 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 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

Critic reviews

“The most celebrated economist of his generation.” (The Economist)

“Krugman’s facility with both arcane details and vast unified explanations boils down complexity so much that the reader often wonders: Why didn’t I see it that way myself?” (Boston Globe)

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