Summary

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.
PLEASE NOTE: When you purchase this title, the accompanying reference material will be available in your My Library section along with the audio.
©2012 Paul Krugman (P)2012 Random House Audio
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Customer Reviews

Most Helpful
5 out of 5 stars
By Nigel on 13-04-13

Illuminating

It's a fascinating and accessible explanation of current economics. Given the impact of the political decisions on our lives, it's a useful read/listen to help make sense of the world.

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5 out of 5 stars
By Jim on 23-12-12

Buy this book now!

There are some excellent books out there that explain how the current economic slump came about. The Big Short is a great example of that approach. This Time Is Different is great on how things are likely to unfold from here. Not very cheery but extremely solid in its evidence base. Paul Krugman manages to do something different in as much as he gets off the fence and tells us how to fix it. You might not agree with him but he's got an engaging style, the ability to explain complex concepts in a clear and entartaining way and a Nobel prize on his side.

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1 of 2 people found this review helpful

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Customer Reviews

Most Helpful
5 out of 5 stars
By Michael on 30-08-12

Listen to this before you vote!

I was quite impressed with this book. I did not agree with everything single thing the author suggests, but the author seems to take great care to both give clear evidence for his position and (which is quite rare) presents and refutes non-straw man arguments against his positions. Krugman does a great job of explaining economic issues with clarity and energy. Having studied the issues I did not learn a lot from this book, but I would recommend it to anyone who wants to better understand the current economic crisis and what could be done about it. I only wish the book was longer and more detailed. This book, in combination with The Big Short, puts this downturn into a clear context regarding what happened and why recovery has been so slow to come.

I recommend looking at the available pdf carefully before listening and referring to the charts as necessary. The narration was excellent making the detailed material actually fun to listen to.

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10 of 12 people found this review helpful

2 out of 5 stars
By Jacob on 13-03-14

Seems like a reckless plan to me.

The premise of this book is that government spending on an astronomical scale is the only thing that'll be able to repair our economy and that national foreign debt doesn't matter as long as we inflate our currency at a higher rate than the interest on the debt. Seems destructive and shortsighted to me.

That said, the book is well written, I just happen to disagree with it. His commentary on the Euro was actually pretty interesting, but ultimately I don't agree with his hypothesis.

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1 of 1 people found this review helpful

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