Krugman and Wife Demand Forward-Thinking Economic Post-Mortems

You may love your Big Shorts and your TBTFs, but in a recent piece in The New York Review of Books, Paul Krugman and wife Robin Wells bemoan the navel-gazing of modern popular economics books and call for solutions to our “bleak” short-term economic situation.

Wells is Krugman’s frequent collaborator and editor—as detailed in The New Yorker, they met during her postdoc at M.I.T. while he was teaching there—and they’ve reviewed books for the NYRB before, though previous efforts have lacked this sense of urgency. One of the reviewed books is debunked somewhat for, among other offenses, relying too heavily on reports from the American Enterprise Institute; Nouriel Roubini’s latest collaboration, despite his “reputation as a wild man and doomsayer,” “breaks surprisingly little new ground.”

“There have also been loud declarations about what we must not do,” the two write near the beginning off the article. “But proposals for positive action to dig us out of the hole we’re in are few and far between.”

 The two do offer their own, rather appropriate, solution: more spending.