Unfortunately, rescue the banks wasn’t enough in the recent crisis. You can’t have prosperity without a functioning financial system, but stabilizing the financial system doesn’t necessarily yield prosperity. What America needed was a rescue plan for the real economy of production and jobs that was as forceful and adequate to the task as the financial rescue.Page 116
... In his remarks just after the ARRA was passed, Joe Stiglitz noted that it provided "a little of federal aid but just not enough. So what we will be doing is we will be laying off teachers and laying off people in the health care sector while we are hiring construction workers. It is a little strange for a design of a stimulus package.