储蓄过剩与经济危机

The Savings Glut and the Economic Crisis

Haisong Bao

MPRA Paper from University Library of Munich, Germany

Abstract: Based on the savings glut argument, proposed a new point of view that unlike the neoclassical and Keynesian, and on this basis, shows the current plight of the Chinese economy is heavily reliant on the root cause of the investment. Since 2008 the world financial crisis, reflections on macroeconomics and questions have been constantly. This paper argues that the economic disconnection between theory and reality is rooted in not distinguish the difference between real investment demand and monetary investment demand. There is the savings glut, from the real economy,this is the main cause for the emergence of economic difficulties.The fundamental way of China to resolve the current difficulties is not a big increase in investment, but the expansion of consumption through the reform of income distribution..

Keywords: Savings glut; Say's law; Walrasian equilibrium; Economic cycle (search for similar items in EconPapers)
JEL-codes: E12 E13 E20 E24 (search for similar items in EconPapers)
Date: 2013-10-25
New Economics Papers: this item is included in nep-mac and nep-tra
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