Krugman and Spitzer: a conversation your apolitical relatives need to hear

Nobel Prize-winning economist, New York Times columnist and Princeton University professor Paul Krugman joins “Viewpoint” host Eliot Spitzer for a wide-ranging discussion, including highlights from Krugman’s latest book, “End This Depression Now!” Among other topics, Krugman describes how the economy is moving sideways and emphasizes the need for job creation and government spending. He warns against the “continuing damage” of the low labor force participation rate in the U.S.: “We’re not just suffering in the short run, we’re also endangering the long run because we are pushing people out of the labor force, many of whom will never come back. We’re reducing our future ability to produce, our future ability to employ people.”

“We need a counterweight to the power of big money in this country,” implores Krugman, citing union organizing, raising the minimum wage and guaranteed health insurance as steps that would help relieve the economic situation. “All of the things that would make life a little less insecure for the American worker would also increase that worker’s bargaining power and help to redress this imbalance in our society.”