Krugman Fears It’s a Depression

Back in the Spring of 2009, in what must have been the darkest days of the financial crisis, we wondered in this blog if we were on the verge of a depression.  I’ve since gotten used to calling this period of economic woe the Great Recession, but now it seems Princeton economist Paul Krugman has decided we’re probably in “the early stages of a third depression” — the first being the “Long Depression” of the 1870s (following the Panic of 1873), the other the “Great Depression” of the 1930s.

You can link to Krugman’s op-ed which appeared in the New York Times earlier this week here.

If you’re interested, here are a few of Greensboro Public Library’s most recent titles on the economic crisis:  On the Brink:  Inside the Race to Stop the Collapse of the Global Financial System by Henry M. Paulson, Jr.; I.O.U.:  Why Everyone Owes Everyone and No One Can Pay by John Lanchester; The Great Reset:  How New Ways of Living and Working Drive Post-crash Prosperity by Richard Florida; C risis Economics:  A Crash Course in the Future of Finance by Nouriel Roubini and Stephen Mihm; The Big Short:  Inside the Doomsday Machine by Michael Lewis; The End of Wall Street by Roger Lowenstein; and Chasing Goldman Sachs:  How the Masters of the Universe Melted Wall Street Down — and Why They’ll Take Us to the Brink Again by Suzanne McGee.

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One Response

  1. […] We also have quite a few recent books on the economic crisis.  For a list of those, please see this post. […]

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