Depression Economics with Paul Krugman
Can our mountain of economic woes actually be solved with simple solutions? Paul Krugman says they can be, if we followed a few lessons from the Great Depression. He joins us in studio to explore what he believes policy makers should be doing to get Americans back to work - and why he believes those in government are "out of excuses."
Krugman said it can be difficult to convince some of those concerned with deficit reduction of the need for greater government spending in some concentrated areas because they "aren't actually concerned about indebtedness." Krugman says many of the people who claim to prioritize deficit reduction are simply trying to achieve a political end that amounts to a "reverse Robin Hood" system that would punish the poor and reward the rich: