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Our Not-So-Great Depression, Craig Green

Michigan Law Review

A Failure of Capitalism by Richard Posner is not a great book, and it does not pretend to be one. Posner summarizes the economic crisis of 2008-09 and considers proposals to reduce current suffering and avoid future recurrence (p. xvi). But when the book's final edits were made in February 2009, it was still too soon for authoritative solutions or full accounts of what had happened. Instead, Posner wrote a conspicuously contemporary-and thus incomplete-description of the crisis as it looked to him at the time (p. xvii). Now one year later, readers may need a reminder about the value of …