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.
©2012 Paul Krugman (P)2012 Random House Audio
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.
clear, correct, and compelling
This audiobook is perhaps the best I've heard on economics and related topics. The writing is clear and the arguments are compelling. The only downside is that Krugman makes the emotional anguish of living through a depression worse by showing how it is self-inflicted (or more accurately, inflicted by ideological leaders and misguided economists who have not thought clearly about what a depression really is). The performance is also excellent.
Yes, because it it economic effects that every voter should understand. The country's economy is of major concern to a majority of voters. They should read the solution that this well respected economist offers.
What politicians offer are sound bytes.
I was angry that most citizens will not hear this information.
When you finish listening to it, send it to your congressman on a $30 mp3 player and tell them as your representative you expect them to listen and learn.
An adequate analysis that does support efficientlly the solution proposed. Nonetheless, it makes for a very interesting audio book.
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.
Nobel prize winning economist Paul Krugman's book makes a clear and accessible case for the lay reader about why governmental economic stimulus is a rational and necessary approach to shortening the financial crisis we are in and explains why austerity measures may seem sensible to some people, but are the worst thing we could do in hard times. Rob Shapiro's narration was appropriate and easy to listen to. Just right for the content.
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