Supply-Side Stagnation Theories

Christina Anselmann ()
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Christina Anselmann: University of Hohenheim

Chapter Chapter 4 in Secular Stagnation Theories, 2020, pp 103-143 from Springer

Abstract: Abstract In contrast to the previous chapter, this chapter focuses on theories of supply-side stagnation. It includes the hypotheses of Adam Smith, Thomas R. Malthus, John S. Mill, David Ricardo, and Karl Marx, as well as of the twentieth-century-economists Joseph A. Schumpeter, Jean Fourastié, William J. Baumol, and Donella H. Meadows. Although they are not secular stagnationists as such, it is also referred to Robert M. Solow and Trevor W. Swan, whose neoclassical growth model has dominated mainstream economics since the 1970s and indirectly includes a theory of stagnation. Moreover, the stagnation theory of Robert J. Gordon is discussed, which, in the contemporary stagnation debate, is commonly viewed as the supply-side counterpart to Lawrence H. Summers’s demand-side approach.

Date: 2020
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DOI: 10.1007/978-3-030-41087-2_4

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