Paul Krugman
Paul Krugman critiques the policy response to the 2008 financial crisis and argues that mass unemployment persisted not because recovery was impossible, but because leaders turned away from government spending too soon.
The central economic problem is a severe lack of aggregate demand that leaves workers willing to work but without jobs to fill.
Policymakers erred by pivoting to austerity and deficit reduction instead of sustaining necessary stimulus measures.
Historical evidence from World War II demonstrates that large-scale government spending can be effective at ending depressions.