Brad DeLong (UC-Berkeley): Greenspanism and Its Discontents. Can a massive government intervention in the economy work if it is being run by people who don't believe in government? Government is not the problem: An article on thirty years of bad economic policy. From The Wall Street Journal, here's a short banking history of the United States: Why our system is prone to panics. A review of The Ascent of Money: A Financial History of the World by Niall Ferguson. From The Economist, a special section on the world economy. Nouriel Roubini on how the world is at severe risk of a global systemic financial meltdown and a severe global depression. From The Economist, 1929 and all that: How today’s crisis resembles the one that happened three-quarters of a century ago, and how it does not. Read all about the good news from the coming depression! From Reality Sandwich, an essay on money and the crisis of civilization. An interview with Muhammad Yunus: "Capitalism has degenerated into a casino". Too big to fail: If global capitalism is to die, it will be a death of a million stings. The end of American capitalism? Short takes on where the financial crisis might be headed. From NPQ, Kenichi Ohmae on the lessons from Japan's meltdown; and Carl Bildt on the lessons from the Swedish credit crunch. What can the US learn from the financial crises that have roiled emerging markets?

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