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The Return of Depression Economics

by Paul R. Krugman

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2384112,656 (3.79)7
After several economic crises in Russia, Southeast Asia and in Latin America, it is becoming clear that the world economy is a very unstable phenomenon. Many pundits argue that economists can prevent another depression. Paul Krugman is not one of them.
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As usual, Krugman highlights the problem with dogmatic approaches to economics. He also illuminates some aspects of our own concern about inflation. Rather than worry about inflation, our current economic and financial guardians might need to look more at the possibility of deflation created during an economic downturn when lack of demand meets excess capacity. ( )
  James.Igoe | Jul 26, 2017 |
Krugman not only makes the mechanics of cyclical economics clear (at least what we understand of it), he is also very forthright about saying what he thinks should be done about various economic situations. If you're having trouble understanding the current economic situation, any of Krugman's books will help. ( )
  aulsmith | Dec 25, 2010 |
  worldsedge | May 25, 2008 |
경제,대공황
  leese | Nov 23, 2009 |
Showing 4 of 4
Paul Krugman may think as hard as Keynes and write as well as Galbraith, but it's not his Nobel Prize in economics that gives this brisk analysis of the sources of our current plight its weight. Updated to discuss today's global turmoil, it has a salutary quote from another laureate, Robert Lucas. In 2003, he said: "the central problem of depression-prevention" had been solved.

added by mikeg2 | editThe Independent, Boyd Tonkin (Jan 30, 2009)
 
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After several economic crises in Russia, Southeast Asia and in Latin America, it is becoming clear that the world economy is a very unstable phenomenon. Many pundits argue that economists can prevent another depression. Paul Krugman is not one of them.

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