Depression, Double-Dip And Deficits: Economists Speak Out

"We are now, I fear, in the early stages of a third depression," the Nobel Prize winner wrote in his June 27 New York Times column, referring to previous U.S. depressions that started in 1873 and 1929. "And this third depression will be primarily a failure of policy."

This week, CNN spoke with Krugman and a "who's who" list of some of the world's top business thinkers and asked, "What is the best way forward: More government stimulus cash, or cuts in government spending?"