Paul Krugman wrote “Revenge of the Glut” for The New York Times. I believe this article was written to inform the American people how this economic crisis began, and that it’s something that has been inevitable and in the making for a while. Also to let people know that it’s not just America struggling right now. Several countries are experiencing the same issues.
I think the basic argument that he is trying to make is that what is causing the crises is still an issue, and maybe we should look at not just trying to fix the problem in America, but if it is stemmed from other countries just fixing our problem may not be enough. At the end of the article it says “around the world, desired savings exceeds the amount businesses are willing to invest. And the result is a global slump that leaves everyone worse off. So that’s how we got into this mess. And we’re still looking for the way out.” I believe that statement basically sums up the article.
Tara Gombar
