End This Depression Now!
by Paul Krugman (W. W. Norton & Company, 2012; $26.50)
Paul Krugman is stepping up to play the kind of role that John Maynard Keynes performed in the 1930s -- arguing in clear accessible language for the government to spend to get us out of the slump. End This Depression Now! is his just-published polemic against the austerians -- the powerful tribe found on both sides of the Atlantic that insists on balanced budgets. The book frequently hits the mark, but there is a crucial weakness that undermines the power of Krugman’s case.
I always come back from the annual Canadian Economics Association/Progressive Economics Forum meetings highly energized by the companionship of so many other fine committed PEF members, and our success in engaging with the broader profession. This past weekend's meetings in Calgary were no exception. A highlight, of course, was the third Biennial Galbraith Lecture delivered by Mike McCracken, CEO and Chair of Informetrica, Inc., who made a great personal commitment to travel to Calgary to receive his John Kenneth Galbraith Prize for Economics and Social Justice.