The Return Of Depression Economics.

Financial Planning | July 1, 1999| | Copyright

The Return Of Depression Economics By Paul Krugman W. W. Norton, $23.95

The United States, along with the rest of the mature Western industrial economies, is neither recession nor depression proof. Exhibit 1 in Paul Krugman's brief is Japan. It has spent most of the decade in a brutal recession and, despite repeated claims that it was about to come roaring out of it, Japan remains stuck in the ugly part of a business cycle that refuses to turn.

Krugman, a well-regarded Keynesian economist, wrongfully heaps scorn on the Hoover administration's so-called ...

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