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economic policy works changes. we are qualitativefully the same situation we were in in the 30s. quantitatively it's not as bad but it has that same underlying logic. >> rose: paul krugman for the hour. next. captioning sponsored by rose communications from our studios in new york city, this is charlie rose. >> rose: paul krugman is here. he is a "new york times" columnist in and a professor of economics at princeton. in 2008, he won a nobel prize for ground-breaking analysis on the international trade. he completed three decades ago since the financial crisis he has advocated for ag...

we are qualitativefully the same situation we were in in the 30s. quantitatively it's not as bad but it has that same underlying logic. >> rose: paul krugman for the hour. next. captioning sponsored by rose communications from our studios in new york city, this is charlie rose. >> rose: paul krugman is here. he is a "new york times" columnist in and a professor of economics at princeton. in 2008, he won a nobel prize for ground-breaking analysis on the international trade. he completed three decades ago since the financial crisis he has advocated for aggressive measures to revive the...

doesn't have to cause a recession because the fed can cut interest rates to offset that. but it can't do that now. so all of the logic of how economic policy works changes. we are qualitativefully the same situation we were in in the 30s. quantitatively it's not as bad but it has that same underlying logic. >> rose: paul krugman for the hour. next. captioning sponsored by rose communications from our studios in new york city, this is charlie rose. >> rose: paul krugman is here. he is a "new york times" columnist in and a professor of economics at princeton. in 2008, he won a nobel pr...

we are qualitativefully the same situation we were in in the 30s. quantitatively it's not as bad but it has that same underlying logic. >> rose: paul krugman for the hour. next. captioning sponsored by rose communications from our studios in new york city, this is charlie rose. >> rose: paul krugman is here. he is a "new york times" columnist in and a professor of economics at princeton. in 2008, he won a nobel prize for ground-breaking analysis on the international trade. he completed three decades ago since the financial crisis he has advocated for aggressive measures to revive the...

doesn't have to cause a recession because the fed can cut interest rates to offset that. but it can't do that now. so all of the logic of how economic policy works changes. we are qualitativefully the same situation we were in in the 30s. quantitatively it's not as bad but it has that same underlying logic. >> rose: paul krugman for the hour. next. captioning sponsored by rose communications from our studios in new york city, this is charlie rose. >> rose: paul krugman is here. he is a "new york times" columnist in and a professor of economics at princeton. in 2008, he won a nobel pr...