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Nobel Prize-winning economist, Paul Krugman, on what needs to be done to fix our broken economic system at the the end of 2008:

"What the world needs right now is a rescue operation. The global credit system is in a state of paralysis, and a global slump is building momentum as I write this. Reform of the weaknesses that made this crisis possible is essential, but it can wait a little while. First, we need to deal with the clear and present danger. To do this, policymakers around the world need to do two things: get credit flowing again and prop up spending."

Read on as we limp into 2009.

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