Paul Krugman is a polarizing figure in both politics and economics. Look at the comments section on any one of his many New York Times editorials and you'll see whorls of comments from ordinary conservative Americans fuming that he is "always wrong" or "a communist f***" (actual comments). Which is to say nothing of what politicians and reporters and professional political commentators say of him. And what is so wonderful about Krugman, and more importantly this book, is that what he has to say isn't incendiary or fear mongering; it isn't liberal elitism or an attack on conservatism. All Krugman is doing is rehashing Keynesian economics in our modern world, which, more simply, is just making the case for more government spending as a viable way out of the depression the US economy is currently in.
The simplicity is definitely part of what makes this book so great, but I found myself disappointed at almost every corner. ETDN is a short book, Krugman is candid and avoids getting technical, but as a result, the book avoids big conversations about economic inequality and bad economic policy. I found myself asking questions like "if there are policies (or lack thereof) that allow massive amounts of money to be pumped to the top without ever touching the bottom, will government spending really help?!"; questions I never thought were addressed, but were perfectly natural to ask. And despite his simple, almost redundant, speculations on government spending and only government spending, what he has to say is still despised. This is undoubtedly because people, not just conservatives but mostly them, have been taught to fear government spending. They are under the impression that it is fraudulent, that it isn't efficient, that inflation will raze our dollar to worthlessness and that our ever impending debt will be bought by China, who will eventually own us as a result. It is these fears that allow me to understand Krugman's tactics in writing this book and leaving out the larger, more progressive points.
Krugman attempts to gently allay all of the aforementioned fears, from inflation to excessive debt, without irony or sarcasm, and, more importantly, without a call for an onslaught of liberal policies. He is quick to point out that military spending and social security are conservative advocated government expenditures that can help stimulate the economy. He even makes a convincing case for meaningful corporate subsidies. ETDN is safe, calculating, and inclusive in what seems to be Krugman's genuine stab at talking to people who don't already listen to him. It might be hard to get your more conservative friends to read this book, but once (if ever) they do, there are an abundance of points they can take with them.
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| Found this little gem looking for a picture of Krugman. The webpage it was found on suggests he is a Jewish Supremacist... |
