Are We Doomed To Secular Stagnation
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Are We Doomed To Secular Stagnation
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Author : Uwe Petersen
language : en
Publisher: CreateSpace
Release Date : 2014-11-25
Are We Doomed To Secular Stagnation written by Uwe Petersen and has been published by CreateSpace this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-11-25 with categories.
On 21 November 2013'Larry Summers, during a speech at the IMF's annual research conference last week, stirred up a hornet's nest by painting a picture of a future with chronically weak demand and sluggish economic growth: a phenomenon known as 'secular stagnation'. He is not the first to point to such a scenario. Paul Krugman picked up on the 'secular stagnation' hypothesis from the early postwar period in his blog two years ago. Meanwhile, the specter of imminent deflation dominates especially the monetary authorities, since their opportunities to ban this danger by interest rate cuts and multiplication of money are vanishing. The prevailing neo-classical supply-side economic theory and policies do not understand the phenomenon and the causes of secular stagnation. Therefore their economic policies only fight the symptoms and, if they still work, they only boost capital market games and capital combustion, but at the same time increase the fragility of the economic system. The economic prosperity in Germany is paid with its export-surpluses and corresponding export of capital, by which the surplus savings are transferred abroad. Germany therefore displaces unemployment abroad. Since Germany nevertheless also fulfills all criteria of a secular stagnation, it is living economically on a volcano. The Merkel government does not understand the phenomenon of secular stagnation, the economic problems of the ailing European countries and the monetary policy of the European Central Bank, without which the eurozone already would have collapsed. Therefore, Germany's measures and economic postulates increase the risk of crisis, instead of fighting against its criteria and serving as a model for the smaller countries on how to overcome the economic crisis.
Secular Stagnation
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Author : Larry Summers
language : en
Publisher: Viking
Release Date : 2019-12
Secular Stagnation written by Larry Summers and has been published by Viking this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-12 with categories.
The biggest economic debate of our time centres around one fundamental question: is the decreased growth in today's world economy a short-term glitch -- or is it part of a permanent spiral? Without an answer, we have no hope of steering our international economies back towards the growth they need. After the global financial crisis, Larry Summers, Harvard professor and former director of the White House National Economic Council, reintroduced into economic debate the concept of 'secular stagnation', arguing persuasively that we're stuck in a trap of persistent low growth and depressed employment. The causes are various, from new technologies that have shifted the economy to zero-cost designed goods, to interest rates that can't go lower than zero. Without bold government intervention, there's no way out. And there's no time to lose.
Economic Progress And Declining Population Growth
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Author : Alvin H. Hansen
language : en
Publisher:
Release Date : 2013-10
Economic Progress And Declining Population Growth written by Alvin H. Hansen and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-10 with categories.
This is a new release of the original 1939 edition.
The Vanishing Middle Class New Epilogue
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Author : Peter Temin
language : en
Publisher: MIT Press
Release Date : 2018-03-09
The Vanishing Middle Class New Epilogue written by Peter Temin and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-03-09 with Business & Economics categories.
Why the United States has developed an economy divided between rich and poor and how racism helped bring this about. The United States is becoming a nation of rich and poor, with few families in the middle. In this book, MIT economist Peter Temin offers an illuminating way to look at the vanishing middle class. Temin argues that American history and politics, particularly slavery and its aftermath, play an important part in the widening gap between rich and poor. Temin employs a well-known, simple model of a dual economy to examine the dynamics of the rich/poor divide in America, and outlines ways to work toward greater equality so that America will no longer have one economy for the rich and one for the poor. Many poorer Americans live in conditions resembling those of a developing country—substandard education, dilapidated housing, and few stable employment opportunities. And although almost half of black Americans are poor, most poor people are not black. Conservative white politicians still appeal to the racism of poor white voters to get support for policies that harm low-income people as a whole, casting recipients of social programs as the Other—black, Latino, not like "us." Politicians also use mass incarceration as a tool to keep black and Latino Americans from participating fully in society. Money goes to a vast entrenched prison system rather than to education. In the dual justice system, the rich pay fines and the poor go to jail.
Man Out
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Author : Andrew L. Yarrow
language : en
Publisher: Brookings Institution Press
Release Date : 2018-09-11
Man Out written by Andrew L. Yarrow and has been published by Brookings Institution Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-09-11 with Political Science categories.
The story of men who are hurting—and hurting America by their absence Man Out describes the millions of men on the sidelines of life in the United States. Many of them have been pushed out of the mainstream because of an economy and society where the odds are stacked against them; others have chosen to be on the outskirts of twenty-first-century America. These men are disconnected from work, personal relationships, family and children, and civic and community life. They may be angry at government, employers, women, and "the system" in general—and millions of them have done time in prison and have cast aside many social norms. Sadly, too many of these men are unsure what it means to be a man in contemporary society. Wives or partners reject them; children are estranged from them; and family, friends, and neighbors are embarrassed by them. Many have disappeared into a netherworld of drugs, alcohol, poor health, loneliness, misogyny, economic insecurity, online gaming, pornography, other off-the-grid corners of the internet, and a fantasy world of starting their own business or even writing the Great American novel. Most of the men described in this book are poorly educated, with low incomes and often with very few prospects for rewarding employment. They are also disproportionately found among millennials, those over 50, and African American men. Increasingly, however, these lost men are discovered even in tony suburbs and throughout the nation. It is a myth that men on the outer corners of society are only lower-middle-class white men dislocated by technology and globalization. Unlike those who primarily blame an unjust economy, government policies, or a culture sanctioning "laziness," Man Out explores the complex interplay between economics and culture. It rejects the politically charged dichotomy of seeing such men as either victims or culprits. These men are hurting, and in turn they are hurting families and hurting America. It is essential to address their problems. Man Out draws on a wide range of data and existing research as well as interviews with several hundred men, women, and a wide variety of economists and other social scientists, social service providers and physicians, and with employers, through a national online survey and in-depth fieldwork in several communities.
The Great Demographic Reversal
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Author : Charles Goodhart
language : en
Publisher: Springer Nature
Release Date : 2020-08-08
The Great Demographic Reversal written by Charles Goodhart and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-08-08 with Business & Economics categories.
This original and panoramic book proposes that the underlying forces of demography and globalisation will shortly reverse three multi-decade global trends – it will raise inflation and interest rates, but lead to a pullback in inequality. “Whatever the future holds”, the authors argue, “it will be nothing like the past”. Deflationary headwinds over the last three decades have been primarily due to an enormous surge in the world’s available labour supply, owing to very favourable demographic trends and the entry of China and Eastern Europe into the world’s trading system. This book demonstrates how these demographic trends are on the point of reversing sharply, coinciding with a retreat from globalisation. The result? Ageing can be expected to raise inflation and interest rates, bringing a slew of problems for an over-indebted world economy, but is also anticipated to increase the share of labour, so that inequality falls. Covering many social and political factors, as well as those that are more purely macroeconomic, the authors address topics including ageing, dementia, inequality, populism, retirement and debt finance, among others. This book will be of interest and understandable to anyone with an interest on where the world’s economy may be going.
The Disappointing Recovery
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Author : United States. Congressional Budget Office
language : en
Publisher:
Release Date : 1977
The Disappointing Recovery written by United States. Congressional Budget Office and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1977 with United States categories.
International Macroeconomics In The Wake Of The Global Financial Crisis
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Author : Laurent Ferrara
language : en
Publisher: Springer
Release Date : 2018-06-13
International Macroeconomics In The Wake Of The Global Financial Crisis written by Laurent Ferrara and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-06-13 with Business & Economics categories.
This book collects selected articles addressing several currently debated issues in the field of international macroeconomics. They focus on the role of the central banks in the debate on how to come to terms with the long-term decline in productivity growth, insufficient aggregate demand, high economic uncertainty and growing inequalities following the global financial crisis. Central banks are of considerable importance in this debate since understanding the sluggishness of the recovery process as well as its implications for the natural interest rate are key to assessing output gaps and the monetary policy stance. The authors argue that a more dynamic domestic and external aggregate demand helps to raise the inflation rate, easing the constraint deriving from the zero lower bound and allowing monetary policy to depart from its current ultra-accommodative position. Beyond macroeconomic factors, the book also discusses a supportive financial environment as a precondition for the rebound of global economic activity, stressing that understanding capital flows is a prerequisite for economic-policy decisions.
Hysteresis And Business Cycles
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Author : Ms.Valerie Cerra
language : en
Publisher: International Monetary Fund
Release Date : 2020-05-29
Hysteresis And Business Cycles written by Ms.Valerie Cerra and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-05-29 with Business & Economics categories.
Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economists refer to as “hysteresis,” argues for unifying the analysis of growth and cycles. In this paper, we review the recent empirical and theoretical literature that motivate this paradigm shift. The renewed interest in hysteresis has been sparked by the persistence of the Global Financial Crisis and fears of a slow recovery from the Covid-19 crisis. The findings of the recent literature have far-reaching conceptual and policy implications. In recessions, monetary and fiscal policies need to be more active to avoid the permanent scars of a downturn. And in good times, running a high-pressure economy could have permanent positive effects.
The Great Economists
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Author : Linda Yueh
language : en
Publisher: Penguin UK
Release Date : 2018-03-15
The Great Economists written by Linda Yueh and has been published by Penguin UK this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-03-15 with Business & Economics categories.
What can the ideas of history's greatest economists tell us about the most important issues of our time? 'The best place to start to learn about the very greatest economists of all time' Professor Tyler Cowen, author of The Complacent Class and The Great Stagnation Since the days of Adam Smith, economists have grappled with a series of familiar problems - but often their ideas are hard to digest, before we even try to apply them to today's issues. Linda Yueh is renowned for her combination of erudition, as an accomplished economist herself, and accessibility, as a leading writer and broadcaster in this field; and in The Great Economists she explains the key thoughts of history's greatest economists, how their lives and times affected their ideas, how our lives have been influenced by their work, and how they could help with the policy challenges that we face today. In the light of current economic problems, and in particular economic growth, Yueh explores the thoughts of economists from Adam Smith and David Ricardo through Joan Robinson and Milton Friedman to Douglass North and Robert Solow. Along the way she asks, for example: what do the ideas of Karl Marx tell us about the likely future for the Chinese economy? How does the work of John Maynard Keynes, who argued for government spending to create full employment, help us think about state investment? And with globalization in trouble, what can we learn about handling Brexit and Trumpism? In one accessible volume, this expert new voice provides an overarching guide to the biggest questions of our time. The Great Economists includes: Adam Smith David Ricardo Karl Marx Alfred Marshall Irving Fisher John Maynard Keynes Joseph Schumpeter Friedrich Hayek Joan Robinson Milton Friedman Douglass North Robert Solow 'Economics students, like others, can learn a lot from this book' - Professor Paul Collier, author of The Bottom Billion 'Not only a great way to learn in an easily readable manner about some of the greatest economic influences of the past, but also a good way to test your own a priori assumptions about some of the big challenges of our time.' - Lord Jim O'Neill, former Chairman at Goldman Sachs Asset Management, former UK Treasury Minister, and author of The Growth Map 'An extremely engaging survey of the lifetimes and ideas of the great thinkers of economic history.' - Professor Kenneth Rogoff, author of The Curse of Cash and co-author of This Time is Different 'This book is a very readable introduction to the lives and thinking of the greats.' - Professor Raghuram Rajan, former Governor of the Reserve Bank of India, and author of I Do What I Do and Fault Lines 'Read it not only to learn about the world's great economists, but also to see how consequential thought innovations can be, and have been.' - Mohamed el-Erian, Chief Economic Adviser at Allianz, former CEO of PIMCO