(Krugman 1999) The return of depression economics

Krugman, Paul. The return of depression economics. 1st ed. New York: W.W. Norton; 1999.

Krugman explains the basics of the liquidity traps and deflationary spirals that characterize economic depressions. He warns that mismanagement of the world economy has made deflation a serious risk once more, and that “austerity” approaches will only make the problem worse.



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Last revision: April 5, 2013