Steve Keen, Secular Stagnation and Thoughts on IS-LM

Steve Keen has produced a nice little article on secular stagnation as an explanation of the crisis, as brought up by Larry Summers and then endorsed by Paul Krugman, and its clash with the theory of endogenous money.

Secular Stagnation and Sacred Neoliberal Dogma

by Dan Kervick, New Economic Perspectives Brad DeLong doesn’t like what Clive Crook is saying about Larry Summers. According to DeLong: When Larry Summers said: Even a great bubble [first in high-tech and then in housing] wasn’t enough to produce any excess of aggregate demand…. Even with artificial stimulus to demand, coming from all this …

Terminal Velocity (23): “What Goes Around, Comes Around”

Written by Adam Whitehead, KeySignals.com Terminal Velocity “Stimulating Taper” suggested that the “Taper Talk” was an oxymoron. The consensus, held by the majority of observers, is that the “Taper” represents a tightening of monetary policy; or rather less easing. The “Stimulating Taper” explained the monetary stimulus effect; involving the repatriation of QE funds, which had …

The Great Debate©: Will the U.S. Mirror Japan?

by Guest Author Robert Huebscher, Advisor Perspectives Larry Summers (left) and Paul Krugman (right) may share ideological leanings, but they disagree sharply about our economic prospects. Both agree that political gridlock is responsible for the failure to grow our economy, but is that impasse is so severe that the US is destined to endure the …