Investment, Saving and Stagnation from a Keynesian Perspective

Carl Christian von Weizsäcker () and Hagen Krämer
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Carl Christian von Weizsäcker: Max Planck Institute for Research on Collective Goods

Chapter Chapter 7 in Saving and Investment in the Twenty-First Century, 2021, pp 201-223 from Springer

Abstract: Abstract It can also be shown from a Keynesian perspectiveKeynesian perspective that planned investment and savingSaving are diverging in the twenty-first century and that there is a riskRisk of sustained (secular) underemploymentUnderemployment unless appropriate countermeasures are taken by the state. In this chapter, we look at the arguments that Keynesian authors have used, in both older and more recent writings, to demonstrate the possibility of secular stagnationSecular stagnation and at the possibilities they considered for overcoming tendencies toward stagnation. We make clear that, despite general differences in the theoretical framework and some differences in detail, there are a number of parallels between the Keynesian view and the new capital-theoretical conception presented in this book. This applies both for the causes of the structural divergence between planned private savingSaving and private investment and for its consequences.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-030-75031-2_7

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DOI: 10.1007/978-3-030-75031-2_7

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