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GAAP.RUNewsPaul Krugman predicts the Third Depression

Paul Krugman predicts the Third Depression

Publication date: 8 July 2010

Paul Krugman, the Nobel laureate in economics and professor in Princeton University, warns against further consequences of the crisis: it may turn into a great economic depression which is a very rare issue.

Paul Krugman warns against further consequences of the crisis: it may turn into a great economic depression (the Third Depression) which is a very rare issue, as there were only two in history, the famous Great Depression (followed the financial crisis of 1929-1931) and the Long Depression which followed financial panic of 1873.