…these years. He is seeing little by little beyond the secular stagnation created from market forces setting wages according to “supply and demand”. He is seeing that raising wages closer…
…piece. First he quotes Brink Lindsley… “Both Tyler Cowen and Robert Gordon argue that the productivity slowdown… reflects… exhaustion of the… great technological breakthroughs of the late 19th and early…
Some years ago Paul Krugman gave perhaps the best argument against the inequality-causes-underconsumption theory of secular stagnation: the idea that rich people spend less of their income/wealth, so if wealth/income…
We hear economists calling for higher inflation to lower the burden of debt on borrowers. Yet, we hear them complain about slow real GDP growth too. (secular stagnation) Can we…
Obama argues that government action is required to redress the growing disparity between rich and poor, diminished opportunities for upward mobility and economic stagnation. Public opinion, at least according to…
…Why stagnation might prove to be the new normal. larrysummers.com. December 15, 2013. Wu, Tao. Estimating the “Neutral” Real Interest Rate in Real Time. Federal Reserve Bank of San Francisco….
I once decided not to do this, but I’m dumping a comment here. Brad DeLong thinks about Larry Summers and secular stagnation, Olivier Blanchard and higher inflation targets and Ryan…
I don’t think there’s anything eye-popping or revolutionary this post, but it’s thinking that I’ve been finding useful. Long before Larry Summers bruited his recent ideas about secular stagnation and…
…manufacturing, that caused the 2008 financial collapse and Great Recession. Uh-uh. It was the Dodd-Frank Act. And the return of higher taxes on some of the very wealthy. And the…
…and declining returns to capital — secular stagnation. He enunciates and demonstrates the part of Marx that Marx got exactly right. But Dean Baker points out where Marx got it…