Joseph Stiglitz argues that the concept was always merely a fig leaf for bad politics and flawed economic policies.
by John B. Taylor mentioning John F. Cogan via Economics One
Joe Stiglitz recently published an attack, “The Myth of Secular Stagnation,” on Larry Summers’ hypothesis of secular stagnation, a revival of a term used by Alvin Hansen decades ago. Larry first presented his secular stagnation hypothesis at a conference jointly hosted by the Brookings Institution and the Hoover Institution on October 1, 2013, during the fifth anniversary of the financial crisis. It has gone viral since then.
Aaron Renn, City Journal
The American economic expansion is finally accomplishing one of the country’s most needed social improvements: getting the long-term unemployed reattached to the labor market. Income inequality gets much of the press today, but as Harvard economist and Manhattan Institute senior fellow Ed Glaeser points out, long-term joblessness is the more serious problem. The unemployed face a heightened risk of serious ills ranging from physical maladies and mental health problems to divorce. Read more here....
quoting Kevin Warsh via Cato Institute
Ten years after the 2008 financial crisis we are again facing the possibility of economic turmoil as the Fed and other central banks exit their unconventional monetary policies by raising interest rates and shrinking their balance sheets.