OTHER TITLES OF INTEREST.In The Return of Depression Economics (WW Norton & Co.), Paul Krugman Paul Robin Krugman (born February 28, 1953) is an American economist. Krugman, a liberal, is currently a professor of economics and international affairs at Princeton University. warns of the possible resurgence of old monsters: recession, depression, devaluation devaluation, decreasing the value of one nation's currency relative to gold or the currencies of other nations. It is usually undertaken as a means of correcting a deficit in the balance of payments. , inflation and unemployment. According to Krugman, a professor of economics whom Fortune has dubbed the most literate economist since John Maynard Keynes Noun 1. John Maynard Keynes - English economist who advocated the use of government monetary and fiscal policy to maintain full employment without inflation (1883-1946) Keynes , the string of financial crises that have marked the end of the 20th century are following the same threatening pattern that led to the Great Depression of the 1930s. Moreover, the mechanisms that have been established to combat current and future crises aren't enough to ward off the danger. Atari and Tandy shares at their height were in great demand, but one seldom hears of the two companies now. Will the same fate occur to the popular Internet companies of today? In The Internet Bubble (HarperCollins), Anthony and Michael Perkins, founders of high-tech magazine Red Herring Red Herring A preliminary registration statement that must be filed with the SEC describing a new issue of stock (IPO) and the prospects of the issuing company. Notes: , warn against the euphoria and greed that characterizes the most dynamic and attractive industry of the moment, the frantic business of Internet startups. They contend that a large amount of shares are overvalued Overvalued A stock whose current price is not justified by the earnings outlook or price/earnings (P/E) ratio and thus, expected to drop in price. Overvaluation may result from an emotional buying spurt, which inflates the market price of the stock or from a deterioration in a and that the bubble may soon burst. |
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