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Secular Stagnation or stagnation policy? Steindl after Summers

Eckhard Hein
IMK, 2015
Level: advanced
Perspective: Post-Keynesian Economics
Topic: Crises, Money & Debt
Format: Lecture / Presentation
Duration: 00:30:53
Link: https://www.youtube.com/watch?v=2gRhk8bxE1M

Eckhard Hein criticises the mainstream's view of secular stagnation as the result of a negative real equilibrium interest rate. Arguing in a Keynesian spirit with particular reference to Steindl, secular stagnation is considered to be a result of shift in the functional income distribution, and oligopolistic organisation of industries, leading to excess capacity and reluctance to invest. This acts as a drag on effective demand and results in secular stagnation. Distributional policies and public investment can, however, overcome stagnation its tendencies.

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Um sich weiterhin für Pluralismus und Vielfalt in der Ökonomik einzusetzen, benötigt das Netzwerk Plurale Ökonomik e.V. Unterstützung von Leuten wie dir. Deshalb freuen wir uns sehr über eine einmalige oder dauerhafte Spende.

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