Estancamiento secular

Alvin H. Hansen
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Alvin H. Hansen: Harvard University

El Trimestre Económico, 2020, vol. 87 (4), issue 348, 1187-1205

Abstract: Economic growth is driven by three main factors: technological innovation, discovery of new resources, and population growth, at least this is what had been observed in practice during the 19th century, which was refuted by the economic effects of the world wars and the Great Depression. Alvin H. Hansen studies this context and argues that there is a secular stagnation caused by the closing of economic borders, the slowness of technical progress and the decrease in population. He argues that said decline reduces investments, resources are underutilized and there is high unemployment. He analyzes some solution proposals, while highlighting the importance of the role of economists to act in this situation.

Keywords: unemployment; full employment; public spending; technical progress; industrialization; population growth. (search for similar items in EconPapers)
JEL-codes: E24 H50 O14 (search for similar items in EconPapers)
Date: 2020
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DOI: 10.20430/ete.v87i348.1179

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