It is an honor and a pleasure to have Paul Krugman at the Lake this afternoon for a conversation on End This Depression Now! Dedicated “To the unemployed, who deserve better,” the book is a condemnation of the policies and mind-set that have produced the worst economic depression since the 1930s. And unlike the Great Depression, which contemporaries did not understand, we know what to do; the current depression is entirely self-inflicted. The broken homes and ruined lives are not attributable to acts of God or the inscrutable logic of the market, but are the direct consequence of public decisions that have amplified the inherent risk of private credit by deregulating financial operations and the attempt to balance the budget when aggregate private demand is collapsing. The central message is that none of this suffering is necessary, and none of it is justified.
|By: Knut Saturday May 19, 2012 1:59 pm|
|By: dakine01 Wednesday September 21, 2011 8:00 pm|
Over the last year, one phrase has continually popped up to justify a lack of investment to help create jobs and grow the US economy – “economic certainty.” This phrase was used to justify and praise the extension of the Bush/Obama tax cuts in December. It was used for the Debt Ceiling increase. It is being used to justify the Super Committee efforts and the push for another tax holiday for corporations on their overseas profits.