Timothy Taylor: Secular Stagnation and Wealth Inequality: Antecedents and Lessons
About 10 years ago, the big topics that had economists all atwitter included the “secular stagnation” hypothesis put forward by Lawrence Summers and the rising-inequality hypothesis put forward by Thomas Piketty. Put the two theories together, and you have forecasts for a slow-growth, high-inequality future. The Review of Political Economy (38:3) has put together an eight-paper symposium on the topic: “What […]
What Have We Learned from Summers and Piketty Ten Years On?
Stefano Di Bucchianico, Nadia Garbellini, and Gabriel Brondino This article introduces a special issue of the Review of Political Economy that revisits, ten years on, the debates sparked by Lawrence Summers’ revival of the Secular Stagnation hypothesis and Thomas Piketty’s Capital in the Twenty-First Century. Summers’ diagnosis of a negative natural rate of interest and […]