08/10/2012 08:48 am ET

Paul Krugman: 'Can Things Fall Apart Again? Yes, They Can'

If you’re wondering what I’m talking about, here’s what you need to know: our grandfathers lived in a world of largely self-sufficient, inward-looking national economies — but our great-great grandfathers lived, as we do, in a world of large-scale international trade and investment, a world destroyed by nationalism.

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