The Return of Depression Economics (Penguin Business Library)

by PaulR.Krugman (Author)

• Used

  Hardcover
  1999

  $3.25

  The ghosts of the 1930s are once again walking the earth. The 1931 crisis of Austria's largest bank, Credit Anstalt, which collapsed as a result of Capital Flight depleting its reserves, is all too familiar a scenario today. Brazil, Malaysia and Japan have all experienced similar crises, and the US and Europe are not immune. Economic policy reforms by western governments have taken us back to a regime with many of the virtues of pre-depression, free-market capitalism, but with some key vices, notably a vulnerability to instability and sustained economic slumps. As a result of these reforms, depression economics has now emerged as a real concern, and Krugman believes that sooner or later we will have to return to regulation of financial markets, limits on capital flows and a recognition that low inflation is less dangerous than price instability.

• Used

  Paperback
  2000

  $3.25

  The 1931 crisis of Austria's largest bank, Credit Anstalt, which collapsed as a result of capital flight depleting its reserves, is all too familiar a scenario in the late 1990s. Brazil, Malaysia and Japan have all experienced similar crises, and the US and Europe are not immune. Economic policy reforms by Western governments have taken us back to a regime with many of the virtues of pre-depression, free-market capitalism, but with some key vices, notably a vulnerability to instability and sustained economic slumps. As a result of these reforms, depression economics has now emerged as a real concern, and Paul Krugman believes that sooner or later we will have to return to regulation of financial markets, limits on capital flows and a recognition that low inflation is less dangerous than price instability.