Paul Krugman on the Crisis of '08

There is no cause and effect there, but the prize has given Krugman an even bigger soapbox than usual in the urgent global conversation over how to handle the crisis.

As Barack Obama heads into office, Krugman is calling more loudly than ever for a massive federal stimulus for the U.S. economy, and thereby the global economy. A new New Deal. Bigger than FDR’s.

This hour, On Point: Economist, columnist, and Nobel Prize winner Paul Krugman, on an economy still in crisis.Guest:

Paul Krugman is an economist at Princeton, a columnist for The New York Times (where he also writes a blog), and winner of the 2008 Nobel Prize in Economics. His new book is "The Return of Depression Economics and the Crisis of 2008."