The Return of Depression Economics
Author: Paul Krugman
Surely the Great Depression could never happen again. Or could it? Over the course of the last two years, six Asian economies have experienced an economic slump that bears an eerie resemblance to the Great Depression. Russia defaulted on its debt in 1998 -- an event that, halfway around the world, drove Brazilian interest rates through the roof and terrified the U.S. bond market. At Long-Term Capital Management, some of the brightest financiers in the world found themselves in a jam that had all the makings of the overleveraged positions that caused the 1929 stock market crash. Such events -- and the significant questions they raise for policy makers -- are the topics of this lively, informative book.
Fortune
Paul Krugman writes better than any economist since John Maynard Keynes.
Economist
It is a pity that this excellent book did not come out sooner....Mr. Krugman asks two big questions. How did the seemingly innocuous devaluation of the Thai baht in July 1997 set off a financial whirlwind that devastated Asia and Russia, and that looked for a stormy few weeks...as if it might sweep away the global financial system? And how could policymakers have limited the economic damage that this financial maelstrom wreaked?....Most people will disagree with some of [the book]. But few will fail to be stimulated by Mr. Krugman's clear thinking and lively style.
Christian Science Monitor - David Francis
R....[A] lively, clear, modest package for those trying to understand the ins and outs of a bewildering mess. He writes in normal language, not economist's jargon.
Washington Monthly - Jonathan Chait
...[N]ot a prediction of disaster....rather, an argument...that the conventional wisdom of economists, executives, journalists, and policy-makers is utterly deluded...
New York Times Book Review - Floyd Norris
Everything Mr. Krugman has to say is smart, important, and even fun to read.
Far Eastern Economic Review - G. Pierre Goad
...Krugman tackles the woes of Asia and the world with wit and brevity. Anybody who has been closely following the academic debate over the causes and consequences of the crisis will find some of the material familiar....However, even hard-core Asian-crisis junkies will find the book worthwhile....Whether his theories are right or not, the world would be a better place if his economist pals embraced his policy of making economics comprehensible.
Far Eastern Economic Review - G.Pierre Goad
...Krugman tackles the woes of Asia and the world with wit and brevity. Anybody who has been closely following the academic debate over the causes and consequences of the crisis will find some of the material familiar....However, even hard-core Asian-crisis junkies will find the book worthwhile....Whether his theories are right or not, the world would be a better place if his economist pals embraced his policy of making economics comprehensible.
Publishers Weekly
As an economist in good standing, writes MIT economist Krugman, I am quite capable of writing things that nobody can read. Fortunately, Krugman, author of Slates Dismal Science column, is also quite capable of writing things that almost anyone can read. An accomplished translator of economics into English, Krugman (Peddling Prosperity; The Accidental Theorist; etc.) takes a look at the international financial turmoil of the past two years and concludes that, confident assertions of happy globalizers and bullish day traders notwithstanding, a great depression could happen again. Depression economics is back, he argues, meaning that for the first time in two generations, failures on the demand side of the economy... have become the clear and present limitation on prosperity for a large part of the world. Whether discussing the currency collapse in Indonesia, the travails of Brazil and Russia (and how theyre related) or the failure of hedge funds such as Long Term Capital Management, Krugman writes with invigorating lucidity and forceful opinion. Now as in the 1930s, however, one cannot defend globalization merely by repeating free-market mantras, even as economy after economy crashes. If his message is dire, his tone is light, almost jaunty as he calls supply-side economics a crank doctrine and ably articulates a Keynsian willingness to regulate markets in order to stabilize economies and minimize human suffering. Moving from concrete examples (e.g., the struggles of a Japanese baby-sitting coop) to stinging critiques of head-in-the-sand theorists, Krugman proves himself not only comprehensible but also well worth comprehending.
Library Journal
Krugman (economics, M.I.T.) addresses the question, "Could the world-wide depression of the 1930s happen now?" In this short book, rushed to publication (and showing signs of hasty writing), Krugman analyzes the financial and economic situations of countries that have been experiencing difficulties in the last few years, such as Russia, Japan, six southeastern countries, and Brazil and concludes that while they are in an economic slump, this is not a return to the 1930s. What is to be done? For advanced economies, such as Japan's, he advocates a radical expansion of the money supply as an economic stimulus. In developing countries, such as Brazil, he believes that the economic medicine needed is devaluation of the currencies and even currency controls. These very complicated situations, however, do not necessarily lend themselves to such one-shot solutions. An optional purchase.--Harry Frumerman, formerly with Hunter Coll., New York Copyright 1999 Cahners Business Information.
Fortune
Paul Krugman writes better than any economist since John Maynard Keynes.
The Economist
It is a pity that this excellent book did not come out sooner....Mr. Krugman asks two big questions. How did the seemingly innocuous devaluation of the Thai baht in July 1997 set off a financial whirlwind that devastated Asia and Russia, and that looked for a stormy few weeks...as if it might sweep away the global financial system? And how could policymakers have limited the economic damage that this financial maelstrom wreaked?....Most people will disagree with some of [the book]. But few will fail to be stimulated by Mr. Krugman's clear thinking and lively style.
The Christian Science Monitor - David R. Francis
...[A] lively, clear, modest package for those trying to understand the ins and outs of a bewildering mess. He writes in normal language, not economist's jargon.
The New York Times Book Review - Floyd Norris
Everything Mr. Krugman has to say is smart, important, and even fun to read.
The Washington Monthly - Jonathan Chait
...[N]ot a prediction of disaster....rather, an argument...that the conventional wisdom of economists, executives, journalists, and policy-makers is utterly deluded...
Far Eastern Economic Review - G. Pierre Goad
...Krugman tackles the woes of Asia and the world with wit and brevity. Anybody who has been closely following the academic debate over the causes and consequences of the crisis will find some of the material familiar....However, even hard-core Asian-crisis junkies will find the book worthwhile....Whether his theories are right or not, the world would be a better place if his economist pals embraced his policy of making economics comprehensible.
Business Week - Daniel M. Koretz
Economists are not known for making complex ideas accessible to the general reader, but Krugman accomplishes this with effortless grace and style.
Table of Contents:
Introduction.......................................................viione July 1, 1997....................................................1
two A Short Course in Miracles: Asia before the Crisis.............21
three Warning Ignored: Latin America, 1995.........................38
four The Future That Didn't Work: Japan in the 1990s...............60
five All Fall Down: Asia's Crash...................................83
six The Confidence Game...........................................102
seven Masters of the Universe: Hedge Funds and Other Villains.....118
eight Bottoming Out?..............................................137
nine The Return of Depression Economies...........................154
Index..............................................................169
Books about: Fighting Words or The Celling of America
Scam-Proof Your Life: 377 Smart Ways to Protect You and Your Family from Rip-Offs, Bogus Deals, and Other Consumer Headaches
Author: Sid Kirchheimer
Get inside information from those in the know on how to protect your money, your rights, and your health—with the most complete, practical, and easy-to-follow collection of consumer wisdom ever assembled.
In this essential action guide by dogged consumer reporter Sid Kirchheimer, more than 100 leading experts reveal smart and specific tips, techniques, and tactics that anyone can use to avoid being victimized—financially, physically, or emotionally. Car salesmen disclose secret strategies to save you thousands of dollars on your next vehicle purchase. Repairmen divulge the tricks of their trades … and disclose the advice you'll need to get superior service at an honest price. Con men and crooks offer defensive directives to deprive thieves of your money, your possessions, and your identity.
Kirchheimer gets the experts to cough up everyday counsel as well. Doctors share simple steps you can take today to guard against medical errors and lower your health-care costs. Attorneys tell how to protect yourself in a courtroom and in daily life. Industry insiders and consumer advocates detail when, where, and how to get the most for your time and money: They expose all sorts of stealthy solutions for saving when you buy a home or apply for a mortgage, telephone service, or a credit card. They even tell you how to save big on travel arrangements, and how to secure a college scholarship for less-than-Dean's List students!
Scam-Proof Your Life is the latest work by award-winning consumer crusader Sid Kirchheimer, who writes the popular "Scam Alert" column in The AARP Bulletin—the nation's most widely circulated newspaper. Kirchheimer is the author of The Doctors Book of Home Remedies II (2 million copies sold), Never Pay Retail, and other critically acclaimed books devoted to empowering ordinary people to protect their money, time, health, and security.
Publishers Weekly
The "Scam-Alert" columnist from the AARP newsletter, Kirchheimer has authored or edited 12-plus Ralph Nader-like salvos aimed at taking out consumer-directed fraud. Kirchheimer interviewed "nearly 100 reformed scammers" for this compendium of recent bilking schemes and corner-cuttings. His advice covers most major mid-life expenses, from buying a new car to buying a home to paying for college to booking a cruise. Chapters on credit cards and identity-theft go into greater depth than most coverage these issues usually get in similar books. Three chapters on healthcare go into detail on everything from drug pricing to malpractice. A final "Roundup of Common Scams" (including the infamous "Nigerian Letter" and cyber "phishing" scams) will leave readers well-informed, and perhaps slightly paranoid. Most helpful is the careful, practical way in which Kirchheimer walks readers through such tasks as reading a phone bill, where to go to find eldercare, or to whom they can complain about shady financial dealings. Copyright © 1997-2005 Reed Business Information, a division of Reed Elsevier Inc. All rights reserved.
Library Journal
Consumer reporter Kirchheimer, who writes the "Scam Alert" column for the AARP [American Association of Retired Persons] Bulletin, here aims to help consumers avoid swindles, ripoffs, and the costly mistakes of service providers. In three main sections that coach readers on protecting money, health, and rights, Kirchheimer combines common sense with insider tips. He details the 12 most prevalent scams, including pyramid schemes, advance-fee loans, and foreign lotteries, and advises on everything from choosing a mortgage to avoiding pickpockets, fighting germs, battling an unfair job termination, and contesting a traffic ticket. The text is enhanced with graphics that highlight tips, resources, special warnings, and definitions. The author consulted numerous experts on his many topics, including people from both sides of the fence, e.g., he offers advice from car salesmen and repairmen on how to pay less and from consumer and healthcare advocates on getting the most for your money. He supports this information with both direct quotes and a "Panel of Experts" section that provides background, publications, and web links. Because the text covers more than just scams, it is broader in scope than Duane Swierczynski's The Complete Idiot's Guide to Frauds, Scams and Cons and is recommended for most public libraries.-Joan Pedzich, Harris Beach PLLC, Rochester, NY Copyright 2006 Reed Business Information.
No comments:
Post a Comment