The Return of Depression Economics

Paul Krugman writes a twice-weekly column for the op-ed page of the New York Times. A winner of the John Bates Clark Medal who was also named Columnist of the Year by Editor and Publisher magazine, he teaches economics at Princeton University.

Paul Krugman, winner of the 2008 Nobel Prize in economics, shows how today's crisis parallels the events that caused the Great Depression - and explains what it will take to avoid catastrophe. 
 
In 1999, in The Return of Depression Economics, Paul Krugman surveyed the economic crises that had swept across Asia and Latin America, and warned 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.

And Other Dispatches from the Dismal Science

The Accidental Theorist

Paul Krugman has been proclaimed &quot;the most celebrated economist of his generation&quot; (The Economist), a judgement confirmed when he was awarded the John Bates Clark Medal, a prize given to the best American economist under the age of forty. Professorof economics at Massachussetts Institute of Technology, Krugman advised the US government and written widely of the international press.

Paul Krugman has made a reputation for himself by telling us the truth about economics however unlikely it may seem and however little we want to believe it. In this collection of sharp, witty essays, Krugman tackles bad economic ideas from across the political spectrum, giving us clear-eyed insights into unemployment, globalization, economic growth and financial speculation. The writing here brilliantly combines the acerbic style and clever analysis that has made Krugman famous.

Paul Krugman

Reclaiming America From The Right

In The Conscience of a Liberal Paul Krugman, one of the US&rsquo;s most respected economists and outspoken commentators, lays out his vision of a New Deal for a fairer society. 
 
After the Second World War it seemed that, in the West, society was gradually becoming more equal. Welfare States had been established in many countries, there was a general reduction in income inequality and in America Franklin D. Roosevelt&rsquo;s New Deal seemed to ensure strong democratic values and broadly shared prosperity. So what went wrong? Why, in the past thirty years, has the gap between the poor and the super-rich become such a gulf? Why are we so disillusioned with the political system? And what can be done about this huge economic inequality and bitter polarization? 
 
Krugman argues that the time is ripe for another era of great reform. Here he outlines a programme for change, explaining what can be done to narrow the wealth gap. And he shows how a new political coalition can both support and be supported by reform, making our society not just more equal but more democratic. The Conscience of a Liberal promises to reshape public debate and become a touchstone work.

Paul Krugman

Books by Paul Krugman

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