The Great Recession that began in 2007 is now more than four years old—and counting. Some 24 million Americans are unemployed or underemployed, and at recent rates of job creation we won’t be back to normal levels of employment until late this decade. This is a tragedy. Do we have to accept it? “No!” is the resounding answer given by Nobel Prize–winning economist Paul Krugman in this call to arms. We have seen this situation before and we know how to fix it; all we lack is the political will to take action. Krugman walks us through the financial crisis that triggered the greatest downturn since the Great Depression and outlines the efforts that have been made thus far. The way forward is clear. Our priority must be to get ourselves back on the path to growth; every day that we lag behind normal production levels only adds to the astronomical economic loss of this depression. What we need for a rapid, powerful recovery is precisely what we’ve needed in crises past—a burst of government spending to jump-start the economy. We owe it not only to the unemployed, but to everyone affected by this tragedy to end this depression now. Includes a bonus PDF of charts from the book
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"Another Excellent book by Krugman. If only the economic policy maker in D.C. read his books. He makes a cogent case for not focusing on the deficits right now when uneemployment is still very high in the US as we are in a liquidity trap. Just look at what is happening to the UK which has slipped back into the recession. Evidence based economic thinking which shall not convince the religious right! Anyone religious (there's no evidence for a GOD) shall dismiss arguments even that show ample proof their way of thinking is wrong. Its called cognitive dissonance."
— Curry (4 out of 5 stars)
" Krugman makes a very convincing argument for his "neo-Keynesian" approach to the economy. It's nice to hear economics from an economist and not from ideologues. I was impressed. "
— Aaron, 2/11/2014" This excellent book is clear and concise (it helps if you love Keynes though...). It explains why the fiscal bale-out wasn't enough in the States and how the Euro and the relations in the Eurozone makes austerity inappropriate policy instruments to end the recession. Recommended to all, especially people in relevant policy departments !! "
— Joe, 1/11/2014" Fast read. Keynsian view on current economic policy "
— Ted, 1/11/2014" Really enjoyed reading this. I'm not an expert in economics and this gives very clear explanations of some of the major economic processes. To be honest, it is in line with my political views, so I am more likely to be a bit biased, but it I do find it distressing that the solution to our current financial woes is potentially so easy but the political will is not there. "
— Clive, 1/8/2014" Krugman is a very smart man, and lays out what's going on in ways that even the least economically savvy can understand. "
— Shannon, 1/7/2014" I liked Krugman's assertion that instead of concentrating on how to avoid future recessions, let's concentrate on getting out of this one first. "
— Wamiq, 1/6/2014" If you want to understand the current economic crisis and if firing teachers and firefighters just doesn't seem like a sane solution this is your book. "
— D'Anne, 1/5/2014" A much different view than Wiedemer's Aftershock book. The reality is probably somewhere in the middle of their two predictions and opinions. "
— Matt, 1/3/2014" Im a big fan of Krugman, this was high-level and concise, but too often the book becomes political. Overall very readable and enjoyable. "
— Chris, 1/2/2014" Paul Krugman is perhaps the smartest person no one listens to. What's more, he doesn't lean upon his Nobel Prize, or resort to name-calling, but calmly explains the situation in terms even the layman can comprehend. "
— Nick, 12/30/2013" Absolutely essential reading for understanding the current economic crisis and how policymakers can and should take actions to fix the situation by a Nobel laureate in economics. It will fire you up! "
— Karen, 12/12/2013" Logical solutions not pursued by this illogical Congress. "
— Tom, 11/23/2013" This book has lots of economic talk, so avert your eyes if that's not your cup of tea. All in all, lots of very good ideas here, especially if you consider yourself a Keynesian. Definite good read for those interested in the cause and one (very intelligent) man's theory on how to fix it. "
— Brian, 11/9/2013" Terrific history lessons. Bold proposals. Krugman cares deeply about his fellow citizens. Quite an "Economic Evangelist." Everyone should read this book. "
— Alicia, 3/17/2013" Recommended to all readers especially if with very limited economic knowledge. A #mustread if you want not just understand why we have a recession but also what our Politicians should do to fight it. Good analysis also of the European Countries problems. "
— Jacopo, 2/17/2013" A lot of good stuff here. Dumbed down but necessarily so. Somewhat repetitive. "
— Billymojo, 9/16/2012" Reading Krugman's blog and NY Times column has been an education--in analysis, courage and economics. This book pulls together his economic argument in an accessible way, even for those of us without a background in economics. "
— James, 8/13/2012" good overview of current economic crisis and what needs to he done. "
— Vijay, 7/29/2012" If you read his blog regularly this book probably won't tell you anything you don't know, but otherwise, it's probably the best single source of information on the current crisis and how absurd the policy response has been. "
— Serge, 7/16/2012" Great overview of modern economics and how it relates to the Great Recession. Paul Krugman is a fantastic writer when it comes to economics and politics, and he makes a strong argument for fiscal stimulus and monetary policy ideas. "
— Matt, 5/9/2012Paul Krugman, recipient of the 2008 Nobel Prize in economics and author of three New York Times bestsellers, has been a columnist at the New York Times for twenty years. He is a distinguished professor at City University of New York.
Rob Shapiro is a musician, writer, voice actor, and Earphones Award–winning narrator. He performed several seasons of radio comedy on Minneapolis Public Radio and voiced the titular lion in Leo the Lion. He is a musician and composer with his critically acclaimed band Populuxe. He is also a business consultant and software system designer.