RETURN OF DEPRESSION ECONOMICS AND THE CRISIS OF 2008
by KRUGMAN, P.
List Price: HK$ 237.00
¡@ISBN
9780393071016
¡@Subject
BUSINESS & FINANCE
¡@Publisher
W. W. NORTON USA
¡@Publication
2009
¡@Edition
Hardcover
¡@Version
Original
¡@Description
Most economists, to the extent that they think about the subject at all, regard the Great Depression of the 1930s as a gratuitous, unnecessary tragedy. If only Herbert Hoover hadn't tried to balance the budget in the face of an economic slump; if only the Federal Reserve hadn't defended the gold standard at the expense of the domestic economy; if only officials had rushed cash to threatened banks, and thus calmed the banking panic that developed in 1930-31; then the stock market crash of 1929 would have lead only to a garden-variety recession, soon forgotten. And since economists and policy makers learned their lesson ¡V no modern treasury secretary would echo Andrew Mellon's famous advice to "liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate...purge the rottenness out of the system" ¡V nothing like the Great Depression can ever happen again.
