Summary of The Return of Depression Economics and the Crisis of 2008

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The Return of Depression Economics and the Crisis of 2008 book summary
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Recommendation

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 and
  • 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.”

 

Summary

The Need to Want More
The global economy will not enter a depression reminiscent of the 1930s. However, a large part of the world must become sensitive to the forces of “depression economics,” the types of fiscal problems not witnessed since the Great Depression. In fact, for the first...

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Comment on this summary

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    Мартин Рутковский 2 years ago
    You can be translated into Russian ?
    • Avatar
      Anna Barshay 2 years ago
      Уважаемый читатель,

      Нами запланировано издание изложения этой книги на русском языке.

      Русская редакция getAbstract

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