Like everyone, I’m learning a lot about our global finance system lately. While Krugman has his critics (someone at dinner the other night said “Krugman is awesome — he’s predicted 27 out of the last 2 recessions”), and he’s a little on the gloomy side, I learned a LOT from reading this book, and from reading his blog on nytimes.com.
Among other things, he’s excellent at describing the conditions in which recessions happen (and the reason that monetary policy & stimulus is basically the way out), and a ton of situations around the world that have had massive currency and economic issues over the last few decades.
It’s hard to know who to really believe in the situation we’re in today, but I feel much, much better able to understand what’s happening and make my own sense of things having read this book — I’d encourage everyone to.
John's Blog 