A smorgasbord recession? Paul Krugman on how the next slump may have multiple causes. When the next recession hits: The government has less flexibility to address a financial crisis than it did during the last one. How close are we to another financial crisis? It’s been 10 years since Lehman Brothers collapsed, setting off a global recession that cost billions of dollars and millions of homes and jobs. Self-fulfilling financial crises: Many mistaken assumptions about the 2008 financial crisis remain in circulation — as long as policymakers believe the crisis was rooted in the housing bubble rather than human psychology, another crisis will be inevitable.
