Secular Stagnation: The History of a Heretical Economic Idea


by Roger Backhouse and Mauro Boianovsky

Appeared Originally on VoxEU,org 19 May 2015

The notion of secular stagnation - a state of negligible or zero economic growth - is back in the headlines. Questions naturally arise about its intellectual antecedents. This article discusses how the concept rose and fell with the economic fortunes of advanced industrialised nations. Political trends and trends in economic theory played a part in its trajectory, with the notion closely connected to the idea that the level of government debt should be allowed to rise.


 more WWRT

What We Read Today 28 May 2015

Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary 'reading list' which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for 'reading list' items are gratefully reviewed, although sometimes space limits the number included.

This feature is published every day late afternoon New York time. For early morning review of headlines see "The Early Bird" published every day in the early am at GEI News (membership not required for access to "The Early Bird".).


Every day most of this column ("What We Read Today") is available only to GEI members.

To become a GEI Member simply subscribe to our FREE daily newsletter.

Read more ...

 more features, analysis, studies, and news published in the last week

Documentary of the Week: Prof. Stiglitz on TPP 2015

Econintersect: Why is the negotiation of the Trans Pacific Partnership (TPP) trade agreement important? According to Prof Joseph Stiglitz, a Nobel Prize winning economist from Columbia University, it is not just how corporations can make more money, but can also have effects right down to life and death situations for individuals. He discusses many of the types of factors that will be important in the TPP negotiations.

Video is shown after the Read more >> jump.


Infographic Of The Day: Can Smartwatches Become The Future Of Wearable Technology?

Following the release of the Apple Watch, 2015 looks more than ever to be the year that smartwatches reach a mainstream audience. Watches traditionally have been worn for fashion as well as practicality and the latest generation from tech manufacturers are looking to try to bridge that gap for the first time. 

Read more ...

Video of the Day:

The U.S. Air Force announced it has certified the Falcon 9 rocket of Elon Musk's Space Exploration Technologies for national security space missions. Deborah Lee James, secretary of the Air Force, said in a statement, 'This is a very important milestone for the Air Force and the Department of Defense.

video of day picture

FOREX NEWS by DailyForex

USD/JPY Rises on Policy Divergence

Investors, speculating that interest rates in the United States are likely to rise higher this year, helped to push the U.S. Dollar to a multi-year peak versus the Japanese Yen.

Swiss Takes A further Step Towards Ending Banking Secrecy

The totally anonymous “numbered Swiss bank account” much beloved by authors of crime fiction as the ultimate repository for hiding one’s ill-gotten gains may itself, have its days numbered.

Australia’s CAPEX Report Not Promising

Australia released its business capital expenditure (CAPEX) report Thursday and it wasn’t promising.

Dollar Takes a Breather after Rally

The US Dollar eased back versus the Japanese Yen and the Euro after a short bout of investor profit taking which came in the wake of improved US data. That economic data had gone a long way to help restore some waning confidence in the greenback.

“She speaks yet she says nothing…”

It is fairly certain that Shakespeare’s Romeo was not thinking of Britain’s wished for changes in her relationship with the European Union, but the fact remains that the UK is saying very little about what it wants to change before a planned “in/out” referendum to be held before the end of 2017.
 more investing, markets, precious metals & forex Technical Summary 28 May 2015

 more opinion

'If You Ain't Cheating, You Ain't Trying' - How Forex Has Changed

by Andre Spicer, The Conversation

'If you ain't cheating, you ain't trying' were the words of one trader working in the foreign exchange market. They belie an attitude that was widespread among traders in this market between 2009 and 2013. Cheating was simply a normal part of a trader's day job. In fact, not cheating would be to shirk your duties.


 USA economy at a glance (boxed items are updates in last 7 days)

Fed's Balance Sheet 27 May 2015 - Another Moderate Decline

Total Fed Balance Sheet:

Fed's Balance Sheet week ending balance sheet was $4,425 trillion..

Read more ...