Over-Saving Caused the Economic Crisis

'Against Thrift' defends consumer culture while exploring the causes of the economic crisis.

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[See a slide show of Mort Zuckerman's 5 Ways to Create More Jobs.]

What do you want to come out of the book?

I want this book to shake up the conventional wisdom. Let's see if we can create some fissures in the paradigm. The recession has taught us really fundamental lessons: The markets aren't self-regulating [and] transferring income from wages to profits does not produce more investment.

What are your thoughts on Occupy Wall Street?

I [recently] kicked off the march in front of Goldman Sachs for Occupy Wall Street with a little speech. I live a couple lives. In the day I am a mild-mannered professor, and by night I am a participant of Occupy Wall Street. I must point out, however, that most of the people would think my defense of consumer culture is bizarre, at least.

  • See photos of the “Occupy” protests.
  • Read the U.S. News debate: Do the Rich Pay Their Fair Share in Taxes?
  • Read about 7 groups with reason to protest.