Customer Reviews for

End This Depression Now!

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Most Helpful Favorable Review

17 out of 20 people found this review helpful.

Throughout his career, Krugman has been a very good economic his

Throughout his career, Krugman has been a very good economic historian, diagnostician and prognosticator. He has an excellent command of the facts and is right far more often than middle ground economists who seek who have moved towards the disproven (by their results)...
Throughout his career, Krugman has been a very good economic historian, diagnostician and prognosticator. He has an excellent command of the facts and is right far more often than middle ground economists who seek who have moved towards the disproven (by their results) "middle ground" economic policies of austerity and away from the proven principles of stimulus which I guess you could call Neo Keynsian Revivalism.

If you love the economics of the GOP, you'll hate this book. If you love the economics espoused by the leaders of the current Democratic party, you won't be much happier. Tough.

Highly recommended.

posted by boar_d_laze on May 4, 2012

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Most Helpful Critical Review

4 out of 11 people found this review helpful.

Krugman is a Hack

His assumptions are so easily countered he had to disable online comments for his postings at the NYT, Because people kept offering rational proofs against his pedantic spend more ideas. This book is just more of the same. Print is good for him because no one can comm...
His assumptions are so easily countered he had to disable online comments for his postings at the NYT, Because people kept offering rational proofs against his pedantic spend more ideas. This book is just more of the same. Print is good for him because no one can comment on the bad ideas in the book.

posted by Wordjoy on October 3, 2012

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  • Anonymous

    Posted October 10, 2012

    Good insight on a modern economic crisis

    This nobel prize winning economist provides an in-depth, but somewhat biased view of americas current economic and political situation; starting from housing bubbles in real estate and eventually to collapsing interest rates, shadow market politics, and the governments play in all this, all eloquently laid out in a riveting (yet somewhat technical) piece of literature. Overall this is a must read book for anyone who who wants to get informed on why the recession is still around and, if accepting to krugmans wisdom, learn about a possible solution.

    2 out of 2 people found this review helpful.

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  • Anonymous

    Posted June 13, 2012

    Excellent narrative and defense

    Need to have more on the topic of what works rather than what pundits and politicians say!

    1 out of 2 people found this review helpful.

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  • Posted June 25, 2012

    A Brief Summary and Review

    *A full executive-style summary of this book is now available at newbooksinbrief dot wordpress dot com Since the housing and financial crash of 2008, America's economy has been stuck deep in the doldrums. Indeed, GDP has remained well beneath pre-2008 levels, and employment levels have failed to recover. In an effort to resuscitate the economy, the American government tried first to jump-start it through stimulus spending, and has now replaced this approach with greater austerity. Nothing seems to be working. For Nobel Prize winning economist Paul Krugman, though, the answer is clear: the problem is that the original stimulus effort was too small, and, since that time, the government is moving squarely in the wrong direction. Indeed, Krugman argues that America's current situation bares a striking resemblance to the stagnation of the Great Depression, and that history has taught us what to do in such situations: the government must take an aggressive approach to stimulate the economy into recovery. This is the argument that Krugman makes in his new book `End This Depression Now!'. Now, Krugman is not a proponent of big government spending under normal conditions. Indeed, even in a recession, Krugman's preferred approach is to drop interest rates in order to spur consumer spending. The problem now is that interest rates are already at zero, and this has not been enough to get consumer spending off the ground, thus leaving the economy in what is called a `liquidity trap'. For Krugman, the liquidity trap is actually quite common in economic downturns that follow financial crashes (as is the case with the current one, and as was the case with the Great Depression), and is why such slumps tend to be deep and prolonged. According to Krugman, the best and surest way to save an economy from a liquidity trap is for the government to step in and undertake the spending that consumers won't. That is, the government must stimulate the economy back into action, until consumers can get back on their feet enough to take over for themselves. For Krugman, this is precisely what happened in America during WWII, when the government's military spending served to stimulate the economy and save it from the grips of the Great Depression. Now, Krugman's opponents will point out that the American government has already tried the stimulus approach during this downturn, and that this approach did not work, thus showing that it cannot be relied upon. What's more, these same opponents argue that the government's debt is already enormous, and indeed dangerously high, and that further government spending at this point may well render the debt completely unmanageable, if not force the government into insolvency (which is a threat currently being faced by several countries in Europe). Finally, Krugman's detractors maintain that pumping more money into the economy at this time only threatens to drive up inflation to dangerous levels, perhaps even triggering a hyperinflationary spiral. Krugman, though, claims that he has answers to all of these objections. Krugman does bring up some important points that do deserve to be taken into consideration in the current economic debate. However, whether his arguments are strong enough to assuage the fears over the negative consequences that additional stimulus could provoke remains to be seen. A comprehensive summary of the main arguments in the book is now available at newbooksinbrief dot wordpress dot com.

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    Posted May 6, 2012

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    Posted June 20, 2012

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    Posted November 11, 2012

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    Posted November 29, 2012

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    Posted May 31, 2012

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