Part I: The Problem 1. Secular Stagnation: As Good as It Gets? 2.
The US economy since the crisis: Slow recovery and secular
stagnation 3. Understanding Secular Stagnation 4. Secular Demand
Stagnation in the 21st Century U.S. Economy. 5. Demand-led growth
and accommodating supply 6. Demand Drives Growth all the Way 7. The
‘Natural’ Interest Rate and Secular Stagnation: Loanable Funds
Macro Models Don't Fit Today’s Institutions or Data 8. The New
Normal: Demand, Secular Stagnation and the Vanishing Middle-Class
9. The Deep Causes of Secular Stagnation and the Rise of
Populism. 10. A Comment on Servaas Storm’s “The New Normal
11. The Secular Stagnation Hypothesis in the Theories of Growth: A
Maze of Theoretical Inconsistencies 12. From Long-Term Growth to
Secular Stagnation. A Theoretical Comparison Between Regulation
Theory, Marxist Approaches and Present Mainstream Interpretations
13. Secular Stagnation: The History of a Macroeconomic Heresy
Part II: Causes and Consequences Role of Economic Policy 14.
Secular Stagnation or Stagnation Policy? Steindl after Summers 15.
There is no secular stagnation - just irresponsible fiscal
policy 16. The labor injunction and peonage - how changes in labor
laws increased inequality during the Gilded Age 17. What the
Federal Reserve Got Totally Wrong About Inflation? Inequality 18.
Income Shares, Secular Stagnation, and the Long-Run Distribution of
Wealth. 19. Varieties of Capitalism and Growth Regimes: The Role
of Income Distribution 20. Trends in US income inequality 21.
Where Do Profits and Jobs Come From? Employment and Distribution in
the US Economy 22. Secular stagnation and concentration of
corporate power Debt and Finance 23. Private Debt and Public
Debility 24. Secular stagnation in the framework of
rentier-financier capitalism and globalization 25. The drivers of
household indebtedness re-considered: An empirical evaluation of
competing arguments on the macroeconomic determinants of household
indebtedness in OECD countries 26. The Economics of Instability: An
Abstract of an Excerpt Supply Side Myth, Automation, and Future of
Jobs 27. Age of Oversupply 28. Automation and the Future of
Work
Part III: Macroeconomic Policy in Secular Stagnation 29. Can Trump
Overcome Secular Stagnation? 30. Secular Stagnation and Progressive
Economic Policy Alternatives 31. The Euro Area's Secular Stagnation
and What Can Be Done About It. A Post-Keynesian Perspective 32.
Core-Periphery Divergence and Secular Stagnation in the Eurozone:
Macroeconomic Evidence and Policy Proposals Beyond Unconventional
Monetary Policy 33. We Can Have a High-Wage America 34. Explaining,
Restoring Low Productivity Growth in the UK 35. Public Sector Jobs
as solution to Secular Stagnation 36. Green New Deal and
Sustainable Economic Growth 37. Restructuring student debt
L. Randall Wray is a professor of Economics at Bard College and Senior Scholar at the Levy Economics Institute. Wray taught at the University of Missouri–Kansas City from 1999 to 2016 and at the University of Denver from 1987 to 1999, and has been a visiting professor at the Universities of Paris and Rome (La Sapienza), as well as holding a variety of visiting positions in China, the Czech Republic, Brazil, Mexico, and Italy. From 1994 to 1995 he was a Fulbright Scholar at the University of Bologna, and he has recently completed a Fulbright Specialist Grant at the Tallinn University of Technology in Estonia. He has had a number of funded research grants from the Ford Foundation, from the Asian Development Bank, and from the Institute for New Economic Thinking. He holds a BA from the University of the Pacific and an MA and a Ph.D. from Washington University, where he was a student of Minsky. His recent publications include: A Great Leap Forward: Heterodox Economic Policy for the 21st Century; Macroeconomics; “MMT and Two Paths to Big Deficits, Challenge; “Cranks and heretics: the importance of an analytical framework Cambridge Journal of Economics; Why Minsky Matters: An Introduction to the Work of a Maverick Economist; and Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems. His books have been published in many languages, including Chinese, Spanish, Portuguese, Ukrainian, and Japanese. Flavia Dantas is an Associate Professor at SUNY Cortland, where she teaches courses in alternative economic theory, political economy and social thought, macroeconomics, money, and mathematical economics. She received her Ph.D. from the University of Missouri-Kansas City in 2013. Her current work focuses on economic stagnation, employment policy, and financial globalization. Recently she has been working with Randall Wray to examine labor market trends in the USA; extensions of this work will critically assess what many have called a new era of “secular stagnation.
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