Acabem Com Esta Crise Já! (2012) - Plot & Excerpts
Not as exhaustive as the Stiglitz book (The Price of Inequality), but a more effective argument. Krugman writes persuasive, clear, lucid prose that doesn't tell the reader what to think but rather invites him to contemplate the crises, the issues, and the solutions past and present that might work. He compares our present problems with the crises faced in the 30s with the Great Depression. Besides drawing parallels and suggesting solutions(such as more taxation for the rich, more direct job creation by the government agencies), he takes the present regime to task for not doing enough. He labels the bills pushed through by Obama as mere token efforts with the full knowledge they werent going to work. He talks massive cash infusion into the economy and massive job creation. His analysis of the current situation is only partly about what happend. Much of the book focuses on why its not getting better. His humanity and empathy come through in the book. My only problem with it was it was more manifesto than analyis. Though the analysis was informed and insightful, I felt he could have explored more options or why other false options wouldn't help. His writing style carried my interest and attention throughout the book and I certainly would have been willing to see more. Most important thing I took away from this book: austerity is death. Any economic reform program that advocates for less government spending is arranged by the monied interests to protect their interests. This is an excellent book at explaining how the United States entered into the late 2K depression, and what it will take to get out. It draws on historical analysis from similar periods of economic stagnation such as the stock market crash in 1929 and the following Great Depression. In the nineties it was 'its the economy, stupid.' Now, it's about spending.if there's no spending in the market there's stagnation in unemployed, in growth, in investments, etc. If jobs are cut, that's less spending in the economy which means less people buying widgets, services, and lattes which in turn leads to higher unemployment. Unemployment benefits can slow that process a bit to buffer the affects on the economy. The government can help by increasing spending, but if it's too little and not in the right way the stimulus can fall flat.At the macro level it starts with education which fuels human capital (trained and educated workers) which fuels productivity, decreasing unemployment, which increases spending, resulting in economic stability, growth and human prosperity.
What do You think about Acabem Com Esta Crise Já! (2012)?
Krugman does a good job explaining how we got here, and laying out a plan to move forward
—Tmmorgan6
Simple solution the government needs to do more in recessions and less in boom periods.
—Chels
