Abstract
Providing an interim conclusion, this chapter stresses that demand- and supply-side stagnation theories are not necessarily mutually exclusive, but may complement each other. Moreover, it is emphasized that most stagnation hypotheses that emerged during the two major waves of secular stagnation theories in the mid-twentieth century and after the financial crisis of 2008–2009 refer to time periods of high and/or rising income inequality. The chapter thus paves the way for the following chapters, which focus on the impact of changes in income disparities on possible secular stagnation tendencies.
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Notes
- 1.
While the Great Depression was the ultimate trigger for the development of various secular stagnation theories in modern history, there had been some (vague) allusions and approaches before 1929. As has been outlined in Sect. 3.2.1, (Schumpeter 1954, p. 1172), for instance, traced Keynes’s ([1919] 1971) stagnationist thoughts back to his book The Economic Consequences of the Peace, first published in 1919. Yet, Keynes clearly advanced his approach in later years, particularly in the 1930s and thereafter.
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Anselmann, C. (2020). Stagnation Theories: Concluding Remarks. In: Secular Stagnation Theories. Springer Studies in the History of Economic Thought. Springer, Cham. https://doi.org/10.1007/978-3-030-41087-2_5
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