The Week’s Best Longreads for May 25, 2013

From the collapsed case for austerity to the NYPD cop who blew the whistle on ‘stop and frisk,’ The Daily Beast picks the best journalism from around the Web this week.

05.25.13 8:45 AM ET

‘How the Case for Austerity Crumbled’
Paul Krugman, The New York Review of Books

Why did the austerians get such a powerful grip on elite opinion in the first place?

‘Officer Serrano’s Hidden Camera’
Jennifer Gonnerman, New York

NYPD officer Pedro Serrano found himself pressured to punish people who didn’t deserve it, so he began recording his superiors, making himself a flash point in the seething controversy over stop and frisk. Does that make him a rat—or a hero?

‘Facebook, One Year Later’
Khadeeja Safdar, The Atlantic

After Facebook's disastrous debut, the preferred clients of big banks walked away with huge profits. How?

‘Has Liberalism Failed?’
Bhaskar Sunkara, The Nation

Why America’s tradition of progressive reformism isn’t enough to fix our problems.

‘A Letter to My Grandfather’
Charles Barzun, The Chronicle of Higher Education

A lifelong correspondence with a celebrated historian.

Can a tiny, oil-rich nation save American news?

For more great longreads, visit our friends at Longreads.com.