Economist Paul Krugman: we know how to fix the economy

St. Paul, Minn. — Nobel Prize-winning economist Paul Krugman, spoke at the Commonwealth Club of California this week about his new book, "End This Depression Now."

Krugman noted that four million Americans have been out of work for more than a year, which hasn't happened since the Great Depression.

He blames indequate stimulus, and says austerity was the problem -- not the solution-- to our current economic problems. Krugman told the audience the solutions are easy to do economically, but hard to do politically.

Guests

• Paul Krugman: New York Times columnist. Professor of economics and international affairs at Princeton University. Author of "End This Depression Now" and "The Return of Depression Economics and the Crisis of 2008." Winner of the Nobel Prize for economics in 2008.

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Resources

• about Paul Krugman