Secular stagnation usually refers to some sort of structural problem with aggregate demand that will maintain high unemployment along with low inflation and interest rates as you can see in this free ebook about secular stagnation written by famous economists. …
Blog Archives
Secular Stagnation of The Median
Secular stagnation is a concept that Alvin Hansen developed after nearly a decade of Great Depression in the US because he feared that the stagnation could continue forever. Then WWII brought the biggest government spending stimulus in history and the…
Our Monetary Overlords Want Low, Low Wages
Josh Bivens has the scoop: Dallas Federal Reserve Bank President Richard Fisher has a secret paper telling us how to fight inflation: stop progress in reducing unemployment so that nominal wages never grow fast enough to actually boost living standards…
Were “The Good Old Days” in the 1990s Really Better Than Today?
For most Americans, according to official economic statistics, the 1990s were the best of times. Anne Lowry explains: This week, the Census Bureau came out with its big annual report on income and poverty in the United States, and it…
Economic “Recoveries” Are Not benefitting the Median American
Pavlina Tcherneva tweeted a graph last month showing how the macroeconomic policy has increasingly left behind 90% of Americans. @ptcherneva: I’d like to see the data that generated this graph because it has gotten a lot of attention and I’d…
How The Fed Could Help The People Rather Than The Banks
Foreign Affairs magazine recently published an article by Mark Blyth and Eric Lonergan about how central banks should use “helicopter drops.” That means to increase the money supply by giving money directly to households rather than by loaning money by…
Popularizing Monetary Policy
Three community organizing groups have, “come together to try to do something that hasn’t really been done before: grassroots lobbying of the Fed.” The groups are Minnesota Neighborhoods Organizing for Change, Action United in Philadelphia, and the Center for Popular Democracy and…
Medianism 