35 of 42 people found the following review helpful
Krugman at his best ...Required reading for Merkollande,
This review is from: End This Depression Now! (Hardcover)
Probably, the only book you should ever need to understand the economic crisis at its current stage. Many excellent books have been written on the economic crisis - my favorite are "how the market fail" by John Cassidy and "fault line" by Raghuram Rajan - but krugman's brings something else : a full set of analysis to reframe the "austery VS Growth" debate (By the way, at this point of time, it really is VS and not both together as the idealistic rhetoric we sometime hear !)
I tend to believe that Krugman has already being instrumental in influencing the terms of this debate in the US, Chapter 10 on Europe provides a brillant - and much awaited - analysis of the situation we're in and a "save the euro" realistic view, something in short supply by the present times ...
The book is not perfect : krugman readers will return - once again - at the washington coop for kids, demand management being the key topic, one might suspect that krugman has no clue of what supply management and long term growth is (other writings by Krugman would correct that feeling). The but for the key message it brings which in a nutshell is "forget austerity, it is self defeating, have a look at Keynes, that might be helpful", Krugman is definitely the most efficient ...
Interested readers willing to go beyond Krugman - but in the same direction - should get "the holy grail of macroeconomics" by richard Koo, same line, more detailled analysis with focus on japan lost decade (the 90's)... by the way what is the industrial country with the best performance since the year 2012 began ... Japan, the 180% debt/GDP country ...
Angela, François, read Krugman before the next "we saved Europe but nobody has noticed it" european summit
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Showing 1-2 of 2 posts in this discussion
Initial post: 25 May 2012 16:55:55 BDT
I can't recommend Koo's book highly enough. Surely the best explanation of what has happened to the UK economy since austerity kicked in. (Although I haven't read Krugman's latest yet.)
In reply to an earlier post on 30 May 2012 18:49:29 BDT
Thank you. I will read the holy grail of macroeconomics first.
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