Secular Stagnation Theories

1. Front Matter

   Pages i-xxi

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2. Introduction

   • Christina Anselmann

   Pages 1-21

3. Secular Stagnation Theories: Past and Present

   1. Front Matter

      Pages 23-23

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   2. Theoretical Foundations

      • Christina Anselmann

      Pages 25-35

   3. Demand-Side Stagnation Theories

      • Christina Anselmann

      Pages 37-102

   4. Supply-Side Stagnation Theories

      • Christina Anselmann

      Pages 103-143

   5. Stagnation Theories: Concluding Remarks

      • Christina Anselmann

      Pages 145-149

4. Income Distribution and Secular Stagnation

   1. Front Matter

      Pages 151-151

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   2. The Impact of an Unequal Distribution of Income on Economic Growth: Theoretical Considerations

      • Christina Anselmann

      Pages 153-162

   3. Income Distribution in Stagnation Theories

      • Christina Anselmann

      Pages 163-194

   4. A Steindlian Model of Income Distribution, Economic Growth, and Stagnation

      • Christina Anselmann

      Pages 195-239

   5. Existing Empirical Evidence on the Nexus Between Income Distribution and Economic Growth

      • Christina Anselmann

      Pages 241-251

   6. Summary, Economic Policy Outlook, and Conclusion

      • Christina Anselmann

      Pages 253-277

5. Back Matter

   Pages 279-327

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In light of weak economic performances and rising income disparities across the developed world during the past decades, this book provides a comprehensive overview of secular stagnation theories in the history of economic thought and examines the role of income distribution in various stagnation hypotheses. By offering a historical perspective, from the classical economists to the most recent stagnation debate of the early twenty-first century, the author shows that most stagnation theories were developed in periods of high and/or rising income disparities. Eventually, it was Josef Steindl, one of the least recognized stagnationists in the history of economic thought, who put the distribution of income at the heart of his stagnation theory. While Josef Steindl focused on the nexus between the functional distribution of income and economic growth, this book includes the personal distribution of income in a Kaleckian-Steindlian model of economic growth and stagnation. In the model presented, the nexus between economic growth and the distribution of income is a priori uncertain, depending on the type of economic shock and the specific economic circumstances. The author also discusses various empirically oriented policy implications aimed at fostering both economic growth and a more equal distribution of income. This book appeals to scholars in economics and the history of economic thought interested in economic growth, secular stagnation, and income distribution.

• Kaleckian-Steindlian model
• income distribution
• economic growth and stagnation
• history of economic thought
• stagnation hypotheses
• economic history
• demand-side stagnation theories
• Steindlian model of income distribution

• University of Hohenheim, Stuttgart, Germany

  Christina Anselmann

Christina Anselmann studied International Management at the Karlsruhe University of Applied Sciences (Germany), graduating with a master’s degree. She subsequently pursued a doctorate in Economics at the University of Hohenheim (Germany), which she successfully completed in 2019.

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