It is an interesting book by the Nobel prize winner Paul Krugman. You do not need to know about Economics if you want to read it because he makes an absolutely summary good really good examples about everything in the book.
It started describing the crisis of these last years with the depression of 1930, this one is not so strong like the big depression but it is a depression anyway. "It is a sustained period of really lousy economic performance and an enormous amount of suffering." he says. In his books he excuses 1930s policymakers for fumbling their way out of the Great Depression. There simply was no track record of successful policies for pulling out of such an entrenched depression. But now we know how it works, says Krugman, so we do not have any excuse.
The book describes how this depression started in America but just a little describe about the effects in Europe, so if you want to read much more about the effects in Europe this book is not the best one to read.
However, as you know Krugman is an arder follower of the Keynesians theories, so the book is trying to explain that if we spend much more in this depression we can get ahead. In the reality many other economists are concerned that if we do that our deficit will be increased much more of what it is right now (So high one, in Europe, just see Spain, Italy or of course the Greece). Krugman pointed out that in this moment when the interest rates are so low (In some countries so close to 0) we should do it, increase the money in the market. Give money to the banks in order to they can give money in credits to the consumers, the consumer waste that money in "consuming" and so on. But the problem is the confident. In a world where the 90% of the people want to save and save money this would not work.
I am a fan of Krugman, his books his articles in the Newspaper his blog and of course his ideas and his theories about the Economic geography, so I enjoyed a lot reading his new book and I recommend it to you!!.
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