A Book Recommendation: The Return of the Depression Economy and the Global Crisis

The Introduction of the work written by Paul Krugman, the 2008 Nobel Laureate in Economics, is as follows.
Most economists, to the extent that they think about the issue, of course, if they think about it, consider the Great Depression of the 1930s as an unprovoked, unnecessary tragedy. If Herbert Hoover had not tried to close the budget deficit when facing economic collapse; if the Federal Reserve had not defended the gold standard at the expense of the domestic economy; if the authorities had been able to raise the necessary cash for the threatened banks, this would have calmed the bank panic that arose in 1930-31 and led to an ordinary recession that would soon be forgotten by the stock market crash of 1929. And because economists and policymakers have learned the lesson -no finance minister today has Andrew Mellon's, “liquidate workers, liquidate stocks, liquidate farmers, liquidate real estate... cleanse the system of the stench,” he will not repeat his famous advice- something like the Great Depression can never happen again.
Or could it be? At the end of the 1990s, a group of Asian economies that produced about a quarter of the world's output and were home to about seven hundred million people experienced an economic collapse eerily similar to the Great Depression. Just like the depression, the crisis exploded out of a clear blue sky, so much so that even as the depression accelerated, many of the so-called masters predicted that economic vitality would continue; the situation resembled the 1930s, when well-known economic prescriptions were ineffective, even counterproductive. That something like this could happen in the modern world must have chilled anyone with a sense of history to the marrow. It chills me to the bone. The first edition of this book was written to assess the Asian crisis in the 1990s. While some people think that the crisis is an Asian phenomenon, I saw it as a troubling sign for all of us, a warning that the problems related to the depression economy have not disappeared in the modern world.
Unfortunately, I was right in my concerns: at the time this new edition went to print, most of the world, including the United States, was grappling with a financial and economic crisis that was much more similar to the Great Depression than the troubles experienced in Asia in the 1990s.
Translated by: Neşenur Domanic / Literature Publications