Secular stagnation slowly undermines support for the existing economic order, and while it is possible that governments will eventually settle on benign solutions to the problem, it is more likely that prolonged secular stagnation will lead to a broad backlash against global economic integration, and a costly turn inward.
he is right, but never does he stop to think that maybe the existing economic order needs to be overturned
Secular stagnation slowly undermines support for the existing economic order, and while it is possible that governments will eventually settle on benign solutions to the problem, it is more likely that prolonged secular stagnation will lead to a broad backlash against global economic integration, and a costly turn inward.
he is right, but never does he stop to think that maybe the existing economic order needs to be overturned
a condition of negligible or no economic growth in a market-based economy ("secular" as in "long-term", in contrast to "cyclical" or "short-term")
This condition, which economists label 'secular stagnation', is associated with limp and vulnerable economic expansions, which often conclude in the deflation of big asset-price bubbles
This condition, which economists label 'secular stagnation', is associated with limp and vulnerable economic expansions, which often conclude in the deflation of big asset-price bubbles