Alvin hansen stagnation thesis

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Economic stagnation is a prolonged period of slow economic growth traditionally measured in terms of the GDP growth , usually accompanied by high unemployment. Under some definitions, "slow" means significantly slower than potential growth as estimated by macroeconomists , even though the growth rate may be nominally higher than in other countries not experiencing economic stagnation. The term "secular stagnation" was originally coined by Alvin Hansen in to "describe what he feared was the fate of the American economy following the Great Depression of the early s: a check to economic progress as investment opportunities were stunted by the closing of the frontier and the collapse of immigration". Warnings similar to secular stagnation theory have been issued after all deep recessions, but they usually turned out to be wrong because they underestimated the potential of existing technologies. Secular stagnation refers to "a condition of negligible or no economic growth in a market-based economy". Alan Sweezy described the difference:.
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A brief history of secular stagnation

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Alvin Hansen - Wikipedia

American economist at Harvard , that began as an American Institutionalist but converted into one of the leading proponents of Keynesianism in the United States. Hansen got his undergraduate studies from Yankton and went on to pursue his graduate studies at the Institutionalist citadel of University of Wisconsin , studying under Ely and Commons. He received in Ph. D in , with a thesis on business cycles. After a stint as an instructor at Brown, Hansen joined the faculty of the University of Minnesota in Alvin Hansen became a professor at Harvard in
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Alvin hansen stagnation thesis

This article will be permanently flagged as inappropriate and made unaccessible to everyone. Are you certain this article is inappropriate? Email Address:. Alvin Harvey Hansen August 23, — June 6, , often referred to as "the American Keynes", was a professor of economics at Harvard , a widely read author on current economic issues, and an influential advisor to the government who helped create the Council of Economic Advisors and the Social Security system. He is best known for introducing Keynesian economics in the United States in the s.
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In economics, secular stagnation is a condition when there is negligible or no economic growth in a market-based economy. It suggests a change of fundamental dynamics which would play out only in its own time. The concept was originally put forth by Alvin Hansen in
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