In A Theory of Accumulation and Secular Stagnation, Aronoff explores Malthus' ideas relating to secular stagnation and uses the insight gained to understand the origins of the subpar growth and tepid employment, periodically punctuated by booms, that has plagued the US economy since the turn of the millennium. He explains how the rise of mercantilism among Asian countries – principally China – and increased income concentration generated an upsurge in excess saving. This accumulation created a chronic deficiency in demand while also depressing interest rates, which generated a search for yield that fuelled periodic booms.
|Publisher:||Palgrave Macmillan US|
|Edition description:||1st ed. 2016|
|Product dimensions:||5.51(w) x 8.50(h) x (d)|
About the Author
Daniel Aronoff is President of Landon Companies, USA. He has served as Vice Chairman of the Board of Trustees of Grand Valley State University, USA. Throughout several decades of participation in the professional world, Aronoff has been a frequent contributor to many media outlets including the Financial Times.
Table of Contents1. Preface
PART I: THE MALTHUS-RICARDO DEBATE
2. The Malthus-Ricardo Debate on General Glut and Secular Stagnation
3. Say's Principle and the Possibility of Deficient Demand
PART II: ACCUMULATION AND SECULAR STAGNATION IN THE CONTEMPORARY UNITED STATES
4. The Theory of Accumulation and Secular Stagnation
5. Accumulation and Secular Stagnation in the US After the Turn of the Millennium
6. A Few Concluding Thoughts