The Return of Depression Economics and the Crisis of 2008
First it was Asia, in July 1997, when a series of event led to the collapse of six economies including Japan. Then came the failure of the Russian economy, followed by the Federal Reserve Board's ba...more
More lists with this book...
Very interesting as well is the way that he deals with "moral hazard" not making judgments but allowing the reader to determine if this is a factor in causing fiscal chaos or not. How much...more
From 1953 to 1973, Japan stunned the world wi...more
This book was really looking at the Asian Financial Crisis, but has been updated to include information on the GFC of 2008.
The most interesting parts of the book relate to the need to re-regulate the financial s...more
Most of the book is just background of various financial crises of the past 100 years. Of course in hindsight, Krugman in all his wisdom can see how if the different parties in the crises had just done what he thinks they should have, everything would have turned out fine. I'm not an economist, so I can't really argue intelligently about his conclusions. M...more
Krugman strikes a fine balance between simplifying global investment banking and unloading the economist jargon. In order to explain the basic characteristics of a recession (and several other market fluctuations) he uses t...more
This book was very readable. Paul Krugman does a great job providing simple, succinct, easy-to-understand explanations of economic ideas and also to-the-point, in-a-nutshell historical information. I haven't yet found anything of his a slog to read, which I do appreciate.
His main thesis seems to be that economists don't know as much as they thought they did, and the profession needs to ditch the fa...more
Krugman, the mouthpiece for liberal inflationary economics, is often touted for his "Nobel Prize" which is actually specific to international trade. What stands out when you read his books is that his "solutions" always include examples that didn...more
...which is honestly pretty appropriate, considering the utte...more
It really makes your brain spin to think about the complexities of our truly global financial system. Currency speculators, bank lenders, governments of nations large and small, flip-flopping exchange rates and seemingly arbitrary interest rates. WHEW!! This book is a good argument for living simply and not investing money you can't afford to lose.
It's unsettling to think of the relative "handful" of people who have...more
So now I have to start all over again.
Basically the gist of what I said was Krugman presents a decent argument here that regulation oversight and the lack of regulating risky off-balance sheet activities got us in the mess in the first place.
And that it has happened before in the form of bank runs and bank failures.
He is also pretty...more
This is a book about economic history which doesn't seem to be a very interesting topic to a lot...more
Krugman covers t...more
It is by no means certain that I am really qualified to write this review since so much of this work, for me, is really preaching to the choir. Paul Krugman very much writes of an economic viewpoint that I already have. He is, of course, much more qualified than I--and much more knowledgeable and articulate. There is much here that I have learned.
But I am also, perhaps, too emotionally invested in the study of this "Crisis of 2008". I am an architect in the southwestern...more
Like Dean Baker's book, th...more
In this book, Paul Krugman first acquaints the readers with all the ingredients, then he introduces the recipe for disaster and finally the disaster itself. Using simple economic models such as the day care analogy, he shows us how the problems occurred and how it could have been different. From t...more
Too many broad-brush reasons were given as if they were undisputed facts. Notwithstanding quite a few ridiculous errors, the efforts at drawing common elements in all crises were also woeful.
As a result, the conclusions drawn were always likely to be faulty and they were. But much wor...more