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The Return of Depression Economics
The Return of Depression Economics
May 19, 2024 10:27 PM

Author:Paul Krugman

The Return of Depression Economics

Paul Krugman, winner of the 2008 Nobel Prize in economics, shows how today's crisis parallels the events that caused the Great Depression - and explains what it will take to avoid catastrophe.

In 1999, in The Return of Depression Economics, Paul Krugman surveyed the economic crises that had swept across Asia and Latin America, and warned that those crises were a warning for all of us: like diseases that have become resistant to antibiotics, the economic maladies that caused the Great Depression were making a comeback.In the years that followed, as Wall Street boomed and financial wheeler-dealers made vast profits, the international crises of the 1990s faded from memory. But now depression economics has come to America: when the great housing bubble of the mid-2000s burst, the U.S. financial system proved as vulnerable as those of developing countries caught up in earlier crises - and a replay of the 1930s seems all too possible.

In this new, greatly updated edition of The Return of Depression Economics, Krugman shows how the failure of regulation to keep pace with an increasingly out-of-control financial system set the United States, and the world as a whole, up for the greatest financial crisis since the 1930s. He also lays out the steps that must be taken to contain the crisis, and turn around a world economy sliding into a deep recession. Brilliantly crafted in Krugman's trademark style-lucid, lively, and supremely informed - this new edition of The Return of Depression Economics will become an instant cornerstone of the debate over how to respond to the crisis.

Reviews

Like sitting in a room with Mark and hearing the best stories in the world, wound up with wisdom, craft, and hard-won philosophy

—— Burkhard Bilger , The New Yorker

A brilliantly engaging storyteller, laugh-out-loud funny, loving, cheekily smug . . . An enjoyable read on making, inventing and what might contribute to a life worth living

—— Julie Mehretu

Mark is an amazing polymath - and an Olympic-level aesthete. Unlike many polymaths and aesthetes, though, when he gets up in the morning, it's to make real, physical things - including this book

—— Craig Nevill-Manning, Engineering Director, Google NYC

On a job site Mark makes irreverent banter while scribbling measurements on the back of pizza box as works of astonishing complexity and precision materializes under his direction. Now he has somehow applied this same deceptively offhand but exacting craft to unspooling this collection of tales from his ascent to the summit of one of the most demanding construction habitats on earth

—— David Hotson, architect, Skyhouse and Pinnacle

Wry, laconic and packed with salient life lessons, this is a book that will encourage everyone to attempt to build the life they wish to live

—— Simple Things Magazine

Who knew Mark Ellison’s handiwork would include a book this exquisite, purposeful, absorbing? How To Build Impossible Things merits reading and rereading — it’s a book with much to teach us all.

—— Ayad Akhtar, Pulitzer Prize–winning author of HOMELAND ELEGIES

Mark Ellison is known for building beautiful rooms, but here he has crafted a gorgeous book. This cross between Zen and the Art of Motorcycle Maintenance and Kitchen Confidential contains fascinating insights about working with your hands, the nature of talent, and how to create a meaningful life, whatever your craft is. Oh, and lots of juicy stories of pain-in-the-ass clients. Even if you aren’t handy — I can barely hang a picture frame — you’ll find this book a wonderful read

—— A. J. Jacobs, bestselling author of THE PUZZLER

BeguilingSelf-Portrait illuminates how supremely difficult it is to make an artistic practice work alongside the demands of care-giving and home-making… The author draws on the rare reflective power she exhibits in her art, to communicate what, she found, painting could not.

—— Amie Corry , Times Literary Supplement

Compelling... The story she relates through images and words has the feel of a painter’s parable, in which hardship, sacrifice and solitude lead, eventually, to something like grace... Paul is uninterested in making herself appear more palatable for the benefit of a reader. She accounts for her life like a person peeling off her bandages, often asking her audience to share in her experiences of difficulty and hurt.

—— Rosanna McLaughlin , Frieze

Fascinating... Paul's paintings, interspersed throughout the book, are quite extraordinary - ambiguous and mystical... Her style is passionate [and] direct.

—— Joanna Kavenna , Literary Review

An impressive portrait of the artist as a young woman...candid, non-judgemental and illuminating.

—— Lucy Hughes-Hallett , Oldie

Engrossing.

—— Vogue

[An] insightful, unflinchingly honest account, she [Celia Paul] describes her need for space to work and think, her emotionally tempestuous 10-year relationship with Lucian Freud.

—— Eithne Farry , Sunday Express

Beautifully written, and thoughtful

—— Joanna Moorhead , Tablet

A deeply affecting and lyrical self-portrait of the artist as a young woman, which quietly builds in strength and luminosity, culminating in a glorious state of serenity and self-knowledge.

—— Chloe Aridjis

An insight into the white knuckle determination needed to make great art, and why it is so few women painters reach the heights. An astoundingly honest book, moving and engrossing – full of truths.

—— Esther Freud

Self-Portrait demonstrates a painter’s startling command of language and her moral power of seeing the world concretely and without subjectivity. Celia Paul’s account of the young woman artist’s struggle towards expression is a story that exposes some of the deepest wounds in our cultural psyche: the ambiguous power of the male artist, the vulnerability and isolation of the woman driven to create, the question of who owns her, of her very body and what it’s for. Written with beauty and candour but without anger, Self-Portrait will yet arouse indignation in its readers, for its delicate exposure of what occurs in the pursuit and misuse of artistic status.

—— Rachel Cusk

Self-Portrait by Celia Paul is a valuable document. The precision and intimacy of her writing is as impressive as the empathy and power of her painting. I feel that this book will be important to many readers.

—— Frank Auerbach

A wonderfully honest and thoughtful book, unburdened by anger or blame or the need to justify, even though it is conjuring up the presence of such a difficult and complicated man. The words make pictures in my head, just as the pictures make words.

—— Julia Blackburn

I loved Celia Paul’s memoir. It reminded me what it felt like to be a very young painter – and also just very young.

—— Chantal Joffe

I have been reading the wonderful autobiography Self-Portrait by Celia Paul, which recounts her early life as an artist and her relationship with Lucian Freud, with whom she spent ten years and had a son.

—— Megan Nolan , New Statesman

Celia’s writing, like her painting, is unflinchingly honest and utterly heart wrenching. This book charts how as an artist and a young woman, with the sensitivity of a butterfly and the ferocity of a lion, Celia Paul makes her way through these enthralling and bewildering formative years.

—— Vicken Parsons

A depiction of difficult relationships between artists—fruitful and terrifying… [Self-Portrait] is important and necessary.

—— Jonathan McAloon , Elephant

It’s a haunting companion piece to William Weaver’s recent rumbustious biography of Lucian Freud, Paul’s former lover. Freud’s personal life made Picasso’s seem a Victorian model of temperance and it’s interesting to reflect on the slack cut for great artists, so long as they were men.

—— Annalena McAfee , Daily Mail

Paul's memoir, Self-Portrait, is to me among the greatest ever books by an artist.

—— Rachel Cooke , Observer

[A] truly fascinating story

—— Artists & Illustrators

An entertaining collection.

—— Mail on Sunday

Pretty impressive.

—— The Sun

Sensitive, often witty and sometimes melancholic reflections.

—— Economia

Unveil[s] the inventive mind behind his regular-guy façade.

—— Daily Telegraph

Perfect for book lovers and cinephiles alike.

—— Elle

A pretty damn good writer.

—— OK! Magazine

Full of Hanks' winning charm.

—— Mr Hyde

Hanks’ measured storytelling makes the collection an addictive read.

—— Hindustan Times

Startlingly good… A spellbinding easygoing read, it is hard to find any fault, other than that Hanks is annoyingly talented and yet still somehow remains impossible to dislike.

—— Irish News

Startlingly good … each of these 17 stories leap out from the page in their authenticity and whimsicality … A spellbindingly easygoing read, it is hard to find fault.

—— Press Association

A wonderful collection.

—— Candis

Warm, gently funny and mostly engaging.

—— Red

Behind the collection is a warmth and humanity.

—— Sunday Sport

Unexpectedly brilliant.

—— Love It!

A spellbindingly easygoing read, it is hard to find fault.

—— The Universe

Rich range of subject matter and emotions.

—— Harrods Magazine
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