The Return of Depression Economics by Paul Krugman

It used to be that banks just did not fail. Well we all knew that some had failed in 1929, but banks did not fail in modern times in modern countries. This is a smart book, lightly updated to reflect recent events.

How much you get out of the book will depend on your aptitude for macroeconomics, I know a bit and feel that I got most of it, but certainly not all. However it was consistently enjoyable and readable. I never felt that I was being talked down to. I might re-read just to get my head round some more of it.

If you are looking for a book that will tell you what shares to invest in, or how to make money investing in the next few years, then this is not much help. After reading it you might even want to start stockpiling bottled water. But if you want to start getting your head round what is happening, then this could well be the best book to read.

At the end of the day, we just don't know what will happen, this book won't tell you, but getting some perspective cannot do any harm.

Random Quote - “A note about intellectual style: one temptation that often afflicts writers on economics, especially when the subject is grave, is the tendency to become excessively dignified. Not that the events we are concerned with aren’t important, in some cases matters of life and death. Too often, though, pundits imagine that because the subject is serious, it must be approached solemnly: that because these are big issues, they must be addressed with big words; no informality or levity allowed. As it turns out, however, to make sense of a strange phenomena, one must be prepared to play with ideas.” p7