Former IMF chief economist on the state of the U.S. economy

Tuesday, March 31, 2009

As the G-20 meets in London, one of the main issues at hand are economic reforms. A piece, The Quiet Coup, in the May issue of The Atlantic paints an unhappy picture of the U.S. economy. It claims that economic recovery in the U.S. will fail unless we break the financial oligarchy that is blocking essential reform. And we might want to listen up because this article was written by none other than the former Chief Economist of the International Monetary Fund, Simon Johnson. He joins The Takeaway to discuss the state of the American economy in the midst of this global meeting.

"The IMF is going to get a lot more funding, perhaps up to a tripling of its available resources. And then the key question is to what extent the IMF can change its role in the world."
—Former Chief Economist at the IMF Simon Johnson on the IMF bailout from the G-20

For more from Simon Johnson, check out his site, Baseline Scenario.

Simon Johnson hit MSNBC to discuss his article in which he states that if banks are not reigned in the U.S. could be headed for something worse than the Great Depression:

Guests:

Simon Johnson

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