End This Depression Now! Hardcover – May 1 2012
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“An important contribution to the current study of economics and a reason for hope that effective solutions will be implemented again.” — Kirkus Reviews
“Starred review. Krugman (), winner of the 2008 Nobel Prize in Economics, takes an edifying and often humorous journalistic approach to the current economic crisis in this accessible and timely study. Rather than provide a mere postmortem on the 2008 collapse (though relevant history lessons are provided), Krugman aims to plot a path out of this depression. Krugman has consistently called for more liberal economic policies, but his wit and bipartisanship ensure that this book will appeal to a broad swath of readers—from the Left to the Right, from the 99% to the 1%.” — Publishers Weekly
About the Author
Paul Krugman is the recipient of the 2008 Nobel Prize in Economics. He is a best-selling author, columnist, and blogger for the New York Times, and is a professor of economics and international affairs at Princeton University.
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For what are very complex and difficult issues, even for professionals, Krugman keeps his prose chatty (he uses colloquialisms such as "stuff" and popular movie references such as "Treasure of the Sierra Madre" and "Being There") and free of buzzwords, jargon or polysyllabic economics terms. There are no formulas, except his own for success: spend to produce growth, cutback later, or risk curtailing production and employment further and for many years to come.
Written for an American audience, Krugman uses examples from Europe, the UK, and Japan, and of course the US, and draws clear links between the examples and the suggested policy actions.Read more ›
Since the housing and financial crash of 2008, America's economy has been stuck deep in the doldrums. Indeed, GDP has remained well beneath pre-2008 levels, and employment levels have failed to recover. In an effort to resuscitate the economy, the American government tried first to jump-start it through stimulus spending, and has now replaced this approach with greater austerity. Nothing seems to be working. For Nobel Prize winning economist Paul Krugman, though, the answer is clear: the problem is that the original stimulus effort was too small, and, since that time, the government is moving squarely in the wrong direction. Indeed, Krugman argues that America's current situation bares a striking resemblance to the stagnation of the Great Depression, and that history has taught us what to do in such situations: the government must take an aggressive approach to stimulate the economy into recovery. This is the argument that Krugman makes in his new book `End This Depression Now!'.
Now, Krugman is not a proponent of big government spending under normal conditions. Indeed, even in a recession, Krugman's preferred approach is to drop interest rates in order to spur consumer spending. The problem now is that interest rates are already at zero, and this has not been enough to get consumer spending off the ground, thus leaving the economy in what is called a `liquidity trap'. For Krugman, the liquidity trap is actually quite common in economic downturns that follow financial crashes (as is the case with the current one, and as was the case with the Great Depression), and is why such slumps tend to be deep and prolonged.Read more ›
Most of the so called Economist Gurus will poopoo this thesis, as their hero has been debunked and they haven't learned to swim.
Most recent customer reviews
Krugman's research states that corporate tax cuts and subsidies -CORPORATE WELFARE- do not create jobs. Read morePublished 12 months ago by Al
This Keynesian nonsense is just pure garbage. This just goes to show what getting a Nobel prize requires - following a heard of lunatics. Krugman is so far gone.Published on Sept. 9 2013 by Daniel
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