Savings Glut or Debt Tsunami?: Rejoinder to Krugman & Wells.

Meta-review of both “The Slump Goes On: Why?” and “The Way Out of the Slump”, by Paul Krugman and Robin Wells. Krugman, one of the left's most eminent economists, and his wife Robin Wells review Fault Lines: How Hidden Fractures Still Threaten the World Economy by Raghuram G. Rajan, Crisis Economics: A Crash Course in the Future of Finance by Nouriel Roubini and Stephen Mihm, The Holy Grail of Macroeconomics: Lessons from Japan’s Great Recession by Richard C. Koo, all of which discuss the recent economic crisis , its causes, what to do about it. In typical NYRB form however, Krugman and Wells basically use the books under review as touchstones, focussing on communicating their own judgement of the crisis and how to overcome its persistence in stunting the American economy...