What to say about Paul Krugman's "End this Depression Now"? Krugman has an excellent track record as resident economic pundit at the New York Times, explaining the complex and easily mangled economic analysis of modern finance accurately and in clear language. Punditry has deteriorated over the last few years into shouting matches between so called "free market supporters" aka Tea Party advocates, and liberals. Paul Krugman, whose blog at the Times is called "the conscience of a liberal" is a balanced, strongly pragmatic voice that happens to know his stuff, and seeks the truth above all else. This book is proof undeniable of his expertise and his ability to explain complex matters in everyday language. A good read for an economics text, which in most cases tend to be dry and boring. I particularly like the case Krugman makes about economics not being a morality play, but rather a scientific process, even if it cannot be at a par with the hard sciences ( economists don't have the privilege of testing theory in controlled lab conditions as other scientists do ). The science of economics is not simply preoccupied with establishing correlations to " prove" whatever ideas are in vogue; and economists should always be vigilant about jumping the gun and making any correlated events into cause- and- effect relationships. As a science economics will never come up with natural laws, or if it does their origin is questionable.  A final endorsement, this book is worth reading, but should one be in a hurry Krugman has recently given a terrific synopsis of this material in an article in the New York Book Review of June 6, 2013: " How the Case for Austerity Has Crumbled."

Anybody with the ability to understand simple graphs, calculations about percentages, and the difference between millions, billions, and trillions should be able to reap a better understanding of the world economics of the last twenty to thirty years. Krugman writes in a step-by-step manner to keep the reader engaged and following the plot. If you do not learn something with this book, perhaps you were not meant to be one of those that read. When he argues against economists on the right, he often gives two sides to his arguments. One is, perhaps the conservative economists don't understand certain facts which he then elucidates. The other argument is that some on the right are just being deceptive on purpose. Krugman gives prescriptions, both government spending programs and monetary prescriptions that could decrease the unemployment rate by several percent right now. One would be that if Obama wins the election, he should fire the guy who refuses to let the federal government reduce mortgage principals and monthly payments for people that are on the verge of defaulting or are underwater in their mortgages.

Krugman's personable style makes a dry and complex subject clear and understandable. Everyone should read this before the next presidential election.

Paul Krugman makes a strong case for governments and central banks to change their current policies, namely an increase of the inflation targets from the current 2% to a slightly higher 4%. Combined with government stimulus, his suggested medicine for the world economy is meant to restore employment to an acceptable level while the private sector is slowly trying to recover. "So this is very much a time to step on the gas pedal, not take our foot off it" Page 222. I can only agree with his approach as the Austerian approach in Europe and other parts of the world don't deliver the expected results. People may not like his suggestions but history shows that this is the right way to deal with the "Depression" and I quote: What can be done? One way is to find some way to reduce the real value of debt. Debt relief could do this; so could inflation, if you can get it, which would do two things: it would make it possible to have a negative real interest rate, and it would in itself erode outstanding debt. Yes, that would be rewarding debtors for their past excesses, but economics is not a morality play. (Pg. 147)

A great overview of Keynesian economics, sure to reaffirm anyone who already believes in the system. But honestly, it's more than just a little depressing that Krugman's final conclusion is that all we need is the "intellectual clarity and political will to end this depression now."

In the Introduction to End This Depression Now, Krugman writes, "For the most part, the mushrooming literature on our economic disaster asks, 'How did this happen?' My question, instead, is 'What do we do now?'" Of the 240 pages that follow, 200 are devoted to answering "How did this happen?". The book is a little elementary but offers a decent overview of recent economic occurrences.

Seconded!