Summary of The Return of Depression Economics and the Crisis of 2008
If governments can make calm decisions and if investors don’t panic, economies can recover from all kinds of mayhem.
Nobel Laureate and economic scholar Paul Krugman investigates the forces that drive economic growth and recession. His ability to maintain the essence of a topic while simplifying complex economics with examples and analogies is a hallmark of his work. Despite its gloomy title, this book is not depressing, because Krugman concludes that another Great Depression is not looming. Capitalism has, overall, provided the foundation for prosperity in advanced and developing economies alike. Indeed, the information age has introduced entrepreneurs who have generated wealth while becoming romantic heroes for succeeding in spite of – or without the help of – giant corporations. However, Krugman stays alert for dark forces, warning against panic in the international financial markets, where multiplying negative feedback can overwhelm the effects of monetary policy. getAbstract recommends Krugman’s in-depth analysis to anyone with an interest in world economics and financial markets.
In this summary, you will learn
- What “depression economics” is
- What role consumer demand plays in sustainable prosperity
- How investor perceptions, panic and negative feedback loops can bring down otherwise well-behaved economies
About the Author
Paul Krugman received the Nobel Prize in economics in 2008. He is a prolific scholar, and teaches economics and international affairs at Princeton University. Fortune magazine claims that he “writes better than any economist since John Maynard Keynes,” and the The Economist describes him as “probably the most creative economist of his generation.”
Comment on this summary
11 months agoYou can be translated into Russian ?
11 months agoУважаемый читатель,
Нами запланировано издание изложения этой книги на русском языке.
Русская редакция getAbstract
By the same author
W.W. Norton, 1999
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