End This Depression Now!

By: Paul Krugman

Narrated by: Rob Shapiro, Paul Krugman

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

Critic reviews

“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

Great listen, why don't we just do it?

Paul Krugman has once again made economics accessible and yet not remotely oversimplified. One wonders why that Nobel laureate can't get more attention for his ideas. After all,he has the evidence of why it works and his detractors have the track record that should shame them.
I give 4 stars for performance because it was not read by Krugman but I have to admit that Shapiro does a great job of channeling Krugman's personality: the little asides; the throwaway lines; the occasional cheekiness.
I hope one day that this book is out of date but for now it is spot on and something everyone should read.

Finally some clarity

Would you recommend this audiobook to a friend? If so, why?

This a must read. We all need to educate ourselves. There is too much conflicting noise on the airways. Mr Krugman has done an excellent job explaining how we got into this economical mess. And his voice is one of sanity on the road out of the mess. Do yourself a favor and listen.
I agree with him in that we have been lead down this path by greed and ignorance.

Breaks down complex issues comprehensively.

Would you consider the audio edition of End This Depression Now! to be better than the print version?

I have not seen the print version.

What did you like best about this story?

Prof Krugman clarifies myths one by one. All the vague rhetoric is defanged.

Have you listened to any of Rob Shapiro and Paul Krugman ’s other performances before? How does this one compare?

No.

If you could give End This Depression Now! a new subtitle, what would it be?

Inflation Fears!

Great book for a scientist

Would you listen to End This Depression Now! again? Why?

I never appreciated how well a real economist can explain economics in scientific terms. I am so used to hearing it from the POV of "traders" and "talking heads". It gives me hope there is a solution to this "depression". However, don't expect this book to make you feel good. It is rather sobering.

What does Rob Shapiro and Paul Krugman bring to the story that you wouldn’t experience if you just read the book?

Due to the immensity of the topic, I tried to read it from the library but it would have taken too long to read. The audio version allowed me to get through it easily.

What’s the most interesting tidbit you’ve picked up from this book?

The nature of liquidity and how important it is. Also, it is sobering to think our legislators are so determined to go the austerity route that has failed in every instance.

Interesting, but misguided

Would you try another book from Paul Krugman and/or Rob Shapiro and Paul Krugman ?

I won't. Very liberal thinker. Nothing wrong with that, but doesn't seem open to new ideas. Overly self-confident.

Would you recommend End This Depression Now! to your friends? Why or why not?

Krugman starts off making the argument that the current "depression" is a function of lack of demand. OK, maybe. But he never comes back around to defend that. Instead, he spends about half the book attempting to debunk austerity and the other half making the case for growth (fueled primarily by govt spending) to get us out of the depression. That's interesting because he never comes back to the demand problem. The US's, and much of the developed world's, problem of demand is largely rooted in demographics, a subject he almost totally ignores. I don't disagree that growth could drive the economy. But perpetual growth would require perpetual increases in demand and that simply isn't possible with our demographics. Krugman's no doubt a smart guy. I'm and MBA and I've read a lot of economics; I'm sure Krugman has forgotten more than I'll ever know, but I also read Harry Dent and he makes the case, in a non-partisan manner, that we can't fight demographics and that we should help the economy de-leverage and start again from a position of much less debt vice Krugman's idea of doubling down and taking on more debt.

What didn’t you like about Rob Shapiro and Paul Krugman ’s performance?

Shapiro read's really slow, like he's talking to a child or someone who he believes might not understand a big word. It almost feels patronizing.

Was End This Depression Now! worth the listening time?

It's a different perspective, but not a complete one.

Any additional comments?

Read Harry Dent's the Great Depression Ahead. Its not as ominous as it sounds because he also goes through ways to protect yourself.