secular stagnation

Government investment is the best path to growth

The gloomy view that the global economy faces a prolonged period of slow growth and high unemployment holds increasing sway among mainstream economists.  A new eBook from the Centre for Economic Policy Research (CEPR), “Secular Stagnation: Facts, Causes, Cures” edited by Coen Teulings and Richard Baldwin includes interesting contributions from such luminaries as Paul Krugman, former US Secretary of the Treasury Larry Summers, and the International Monetary Fund chief economist Olivier Blanchard.


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