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End This Depression Now! by Paul Krugman

End This Depression Now! (original 2012; edition 2012)

by Paul Krugman

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2321149,816 (4.09)9
Title:End This Depression Now!
Authors:Paul Krugman
Info:W. W. Norton & Company (2012), Edition: 1, Hardcover, 272 pages
Collections:Your library
Tags:###.##, economics, Keynes, Keynesian economics, fiscal stimulus, Great Depression, recession, Great Recession, global recession, fiscal policies

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End This Depression Now! by Paul Krugman (2012)

  1. 10
    What's the Economy For, Anyway?: Why It's Time to Stop Chasing Growth and Start Pursuing Happiness by David K. Batker (aulsmith)
    aulsmith: Both books discuss economic issues that affect real people not just people with investments

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Right off the bat, I have to admit my knowledge of economics is pretty much zilch and I’m a loyal fan of Krugman’s biweekly column in the NY Times. If you enjoy his style, this book is for you. As usual, Krugman manages to break apart complex theories into palatable pieces, presenting a convincing case for ending austerity measures along with a Keynesian expansion of government spending. Likewise, he demonstrates how this will never happen in our current political environment. Usually, I despise punditry books, but Krugman has won me over with his ability to dissemble complex ideas into simple examples, such as his illustration of the flaws with the Washington babysitting cooperative. A quick read (and a bit dated at the time of this review) I highly recommend this book to any economic novice who is seeking an understanding into the current fiscal mess and achievable means for setting the economy back on track (hint: it doesn’t include shutting down the government). ( )
  DrakeVaughn | Nov 7, 2013 |
This was a very interesting book. I'm very fond of Krugman's style, and the fact that he can make complicated economic theory understandable to someone whose brain really doesn't work that way.

That said, this book is sad, and depressing. According to Krugman, the depression we're in right now isn't so much an economic problem as a political one - fixing it is easily within our grasps, but for whatever reason (and there are many, including greed) they just don't want to. They aren't willing to do what it takes to fix the problem. It's sad, it's disgusting, and it's totally unnecessary. ( )
1 vote Anniik | Sep 28, 2013 |
I thought that this was a decent book. I agree with the premises that Krugman puts forward. However, if it is meant for a good macro-economic overview, then it is a bit wonkish. I think it could have been more concise. Again, its greatest value is in presenting a basic economic framework for those who may not really understand how the economy works. What I find frustrating is that the data of the last 85 years clearly should show what does and does not work. It is hard to believe that supposedly intelligent economists do not see our current crisis as a lack of demand. It is scary when those that are doing well in this current crisis put forth propositions that do not help the entire economy but only serve their narrow self interests. ( )
  nivramkoorb | Jun 20, 2013 |
This is a very incisive summary of the current economic crisis. Oh, if only Krug or Robert Reich were in the Cabinet!

It's hard for me to summarize Krugman's already tight lines of reasoning even further, but here goes.

-The major trend of economic policy of the past thirty years, from Reaganomics to the Bush tax cuts, has been a catastrophe.
-The present hesitance of both borrowers and creditors, leads to decreased demand.
-The deregulation of the financial markets, most notably Glass-Steagall, has been a catastrophe.
-The fiscal policies which have been reinstated since the 1980s have had a similar effect to those of Gilded Age America, and allowed a new generation of plutocrats to influence policy through think-tanks and lobbying of politicians.
-Austerity, as seen in Europe, is a major mistake. Many of the disaffected youth who are only barely surviving because of welfare will be forced under far worse conditions if their lifelines run out.
-A review and revision of Keynesian economics, including the effects of spending as a multiplier, how governments can survive with debt, inflation, etc.
-Bad economic times can lead to political extremism - see Weimar Germany, Hitler.

What does he advocate? A newer, stronger, stimulus, one which provided the early recovery of 2009-10, but with better applications and stronger backing, in addition to a last gasp of unemployment insurance.

See the New Deal, and compare that to Hoover. See the multiple economic crises of the Gilded Age of the 19th century.

There are a few nitpicks - his ideas on structural unemployment, and the role of technology in vastly altering the economy, particularly.

This is a book clearly and emphatically written, with the hope that it will spread and affect the policies of this new election season and beyond. I only beg that it does. ( )
  HadriantheBlind | Mar 30, 2013 |
This is why I like Paul Krugman: his writing is easy to understand and he's usually right! Nobody seems to bother holding prognosticators accountable for their opinions. You see the same pundits, year in and year out, making predictions and it doesn't seem to harm their credibility if they are rarely correct. I gave up on the Wall Street Journal editorials, because they were NEVER right. The editors were confident that the Bush tax cuts would stimulate the economy and end the deficit. Have they ever apologized for being absolutely wrong? No. Krugman's ideas are actually rooted in historical precedent, not ideology. These days, however, facts don't seem to matter. ( )
1 vote theageofsilt | Jun 28, 2012 |
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Amazon.com Product Description (ISBN 0393088774, Hardcover)

A call-to-arms from Nobel Prize–winning economist and best-selling author Paul Krugman.

The Great Recession is more than four years old—and counting. Yet, as Paul Krugman points out in this powerful volley, "Nations rich in resources, talent, and knowledge—all the ingredients for prosperity and a decent standard of living for all—remain in a state of intense pain."

How bad have things gotten? How did we get stuck in what now can only be called a depression? And above all, how do we free ourselves? Krugman pursues these questions with his characteristic lucidity and insight. He has a powerful message for anyone who has suffered over these past four years—a quick, strong recovery is just one step away, if our leaders can find the "intellectual clarity and political will" to end this depression now.

(retrieved from Amazon Mon, 30 Sep 2013 13:59:01 -0400)

(see all 2 descriptions)

Krugman pursues the questions of how bad the "Great Recession" really is, how we got stuck in what can now be called a depression and, above all, how we can free ourselves.

(summary from another edition)

» see all 3 descriptions

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