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End This Depression Now! - Paul Krugman

  • Apr 7, 2013 · 3:00 PM
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239 pages, published in 2012.
A call-to-arms from Nobel Prize–winning economist and best-selling 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.

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  • Elizabeth

    ‎"This paper examines major academic studies as well as data from the U.S., Wisconsin, and Milwaukee labor markets and finds no evidence to support the skills gap thesis.":
    - I've read the conclusion & find Krugman is cited. It's relevant to some of our Mar discussion.

    2 · March 10, 2013

    • Elizabeth

      There's a very similar discussion going on in the comments here:­

      1 · April 12, 2013

    • Sharon

      Does not appear to be discussion...

      April 12, 2013

  • Art J.

    Here is an updated Employment for Prime Age Workers that shows we are still in an Employment slump. Good graph because it does not care about people giving up looking for work, focuses how under utilized our actual workforce is.

    1 · April 8, 2013

    • Leo F.

      This chart is pretty informative. It shows that from the end of the recession in 2009, the job market remained stagnant (around 75%) until the end of 2011. Then there was a short period of improvement in late 2011/early 2012, and for the past year it has been relatively stagnant again. I made a very rough projection, based on the average rate of recovery since the end of the recession until now, you can see it here:­

      1 · April 8, 2013

    • Leo F.

      That's showing that, if we keep the current pace, it will take, roughly, another 14 years to get back to the level of employment we had before the crisis. Doesn't sound good to me...

      April 8, 2013

  • Art J.

    Listed below are some discussion questions for ‘End This Depression Now!’ by Paul Krugman. If you have read the book, then share your insights with group. If did not read the book, you are still welcome to share your observations on this economic depression we are in.
    1. A year has passed since this book was first written, is the economy healing itself?
    2. What is the author’s argument against austerity policies during this depression?
    3. What is Reconciliation and how does it work In Congress?
    4. What is Krugman’s response to the claim that the Fiscal stimulus did not work?
    5. What is Krugman’s response to the claim that bigger deficits undermine consumer and market confidence?
    6. What is Krugman’s response to the claim that there is a lack of “shovel-ready” projects?
    7. If no job creation stimulus bill can be passed due to political gridlock, what else can be done to stimulate the economy?

    April 4, 2013

    • Leo F.

      Great questions

      April 5, 2013

    • Leo F.

      I have always thought that the criticisms directed at Obama by liberals/progressives have been somewhat unfair, given the magnitude of the political opposition he faces. But this book made me think that maybe Obama is not really doing everything that he COULD do to push things in the right direction. If it is indeed possible for him to get an adequate stimulus package passed in congress by reconciliation, as Krugman says it is, then the blame for not doing it really falls on his lap. I don't know, maybe this wouldn't get enough support even among senate democrats, in which case Obama may see no point in pushing for it. I know he is a pragmatist, and I do think his heart is in the right place, but now I question whether he has been pursuing those goals as aggressively as he could, or being unnecessarily cautious.

      April 7, 2013

  • Sharon

    So glad I finally made a meeting--enjoyed learning so much from everyone and the level of conversation.

    2 · April 7, 2013

  • Sharon M

    Stimulating and informative discussion, as usual.

    3 · April 7, 2013

  • John R

    45 min away. Will skip this one and see you guys at the next one.

    April 7, 2013

  • A former member
    A former member

    I've been looking forward to joining you guys, but sadly it won't work out this month. I hope to attend in May!

    April 6, 2013

  • David D.

    I'm looking forward to the discussion and to meeting other readers. It should be fun.

    April 5, 2013

  • Art J.

    Should the U.S. spend more to try to stimulate the economy?
    Fareed speaks with Nobel Prize winning economist Paul Krugman.
    On "Fareed Zakaria GPS" this Sunday 3/24 at 9 a.m. and 12 p.m. CST on CNN.

    1 · March 23, 2013

  • Art J.

    If you are pressed for time or like to review a book in summary before reading in detail (Thats why I like nonfiction versus a mystery novel), then check out this summary at:

    March 5, 2013

    • Mona

      Thank you Art,this was a nice one.

      1 · March 9, 2013

    • Leo F.

      Thanks, this is a great resource.

      1 · March 11, 2013

  • Art J.

    "Paul Krugman for Beginners". This is his NY times blog where you can get an idea what kind of thinker Krugman is. Even if you can't read the book, there are alot of his ideas in his blog:

    February 26, 2013

  • Art J.

    Paul Krugman‏@NYTimeskrugman
    OP-ED COLUMNIST; Rubio and the Zombies

    February 15, 2013

  • Art J.

    I you liked The Return of Depression Economics and the Crisis of 2008 - Paul Krugman then this will be a great discussion. I would volunteer to be discussion leader and provide questions/chapters to read.

    September 10, 2012

    • Leo F.

      Thank you for volunteering to lead the discussion, Art. I think this is going to be a good one.

      September 10, 2012

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