Chapter Four: Stagnation and social structures of accumulation
Abstract
The recovery from the financial crisis and Great Recession of 2008–09 was has been sluggish in the United States and more so in a number of other developed countries. This gave has given rise to a literature about possible secular stagnation. This paper proposes an approach to explaining the stagnation that differs from that found in the above literature. We will argue that the current stagnation stems from the effect of the evolving institutional structure of the economy on long-run macroeconomic performance. This explanation for the stagnation is based on the social structure ...
Get Handbook of Economic Stagnation now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
