Demand-Side Stagnation Theories

Christina Anselmann ()
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Christina Anselmann: University of Hohenheim

Chapter Chapter 3 in Secular Stagnation Theories, 2020, pp 37-102 from Springer

Abstract: Abstract This chapter is concerned with demand-side theories of secular stagnation, providing a thorough analysis of the stagnation hypotheses of various economists emphasizing secular stagnation as a demand-side issue. These include the pre-Keynesian underconsumptionists Jean Charles Léonard Simonde de Sismondi, Thomas R. Malthus, and John A. Hobson, as well as several twentieth-century economists. Among the latter are John M. Keynes, Alvin H. Hansen—also known as the American Keynes—as well as Michał Kalecki and Josef Steindl. Finally, the theory of Lawrence H. Summers, often referred to as a revival of Hansen’s stagnation theory, is discussed as the most recent example of a demand-side stagnation hypothesis.

Date: 2020
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DOI: 10.1007/978-3-030-41087-2_3

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