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: A Mystery No More

I’m sorry, I couldn’t help it: when Larry Summers first made his secular stagnation speech at the IMF, and the American economics tribe heralded it as if it were the greatest (and latest) thing since sliced bread, my irony gene went into overload-and that showed in my first post on the topic.

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 …