Synopses & Reviews
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.
"Krugman winner of the 2008 Nobel Prize in Economics builds a strong case for federal stimulus spending as the only path to ending our current economic woes, and claims that austerity policies lead to economic contraction and worsening unemployment. Rob Shapiro skillfully narrates this audio edition not an easy task given the somewhat dry nature of the prose in a richly textured voice that brings just the right amount of gravitas and accessibility to this wonky manifesto. Shapiro's tone is conversational; he modifies his pitch for emphasis and adopts a carefully measured pace a blessing when numbers, percentages, and statistics come fast and furious. Unfortunately, economics books (including this one) often make use of charts and graphs, and while PDFs of the book's 12 charts are included, this isn't likely to help those listening in the car or on the treadmill. Still, Shapiro provides an engaging performance of this timely and important book from Krugman, who narrates the introduction. A Norton hardcover." Publishers Weekly Copyright PWxyz, LLC. All rights reserved.
A call-to-arms from Nobel Prize-winning economist and bestselling 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.
About the Author
Paul Krugman is the recipient of the 2008 Nobel Prize in Economics. He is a bestselling author, columnist and blogger for the New York Times, and professor of economics and international affairs at Princeton University.