June 13 - Deep Economy
Friday June 12, 2009
How coal ruled the lives of Nova Scotians, and what the fall of that industry reminds us about today's economic news. We also hear Depressing Moments in Canadian Literature, and debate the Great Depression novel, As For Me and My House. A panel of money experts picks the best books to read if you want to understand the big economic picture.
Who and what:
Depressing Moment Number One is the poem "In Addition" by Milton Acorn || John Demont's book is called Coal Black Heart || The song is "The Ballad of Springhill" sung by The Men of the Deeps, and written by Peggy Seeger with Ewan MacCall || Emily Schultz describes a redundant character in the first draft of her new novel, Heaven is Small.
Deborah Yedlin recommends The Return of Depression Economics and the Crisis of 2008 by Paul Krugman and also Why Your World Is About to Get A Whole Lot Smaller by Jeff Rubin. Fazil Mihlar recommends Risk by Dan Gardner and sort-of recommends John Maynard Keynes' A General Theory of Employment Interest and Money.
Depressing Moment #3477 is Sinclair Ross' As For Me and My House, described by Jamie Dopp of the University of Victoria. Joel Yanofsky recommends you don't read it. Lorna Crozier says, on the contrary, do read it. Her book of poetry based on Mrs. Bentley is called A Saving Grace.
We received this comment from Ron Robins, taking issue with the money experts:
The book reviewers totally missed-out on the books that really deal with the real problem today: debt. Simply stated numerous authorities indicate that consumers and businesses are hitting a debt wall -- and that many major governments are close to it as well. They will hit it in the next year or two. Society has simply built-up too much debt relative to income and GDP! Keynes never really addressed this issue, so your reviewers were way-off base.
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