LEADER 04704nam 22007815 450 001 9910255459303321 005 20230808191903.0 010 $a1-137-56222-6 010 $a1-137-56221-8 024 7 $a10.1057/9781137562210 035 $a(CKB)3710000000607576 035 $a(DE-He213)978-1-137-56221-0 035 $a(MiAaPQ)EBC5215605 035 $a(MiAaPQ)EBC4964942 035 $a(Au-PeEL)EBL4964942 035 $a(CaONFJC)MIL879060 035 $a(OCoLC)934056906 035 $a(EXLCZ)993710000000607576 100 $a20180108d2016 u| 0 101 0 $aeng 135 $aurnn|008mamaa 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 12$aA Theory of Accumulation and Secular Stagnation /$fby Daniel Aronoff 205 $a1st ed. 2016. 210 1$aNew York :$cPalgrave Macmillan US :$cImprint: Palgrave Pivot,$d2016. 215 $a1 online resource (VIII, 144 p.) 225 1 $aPalgrave pivot 311 $a1-349-71984-6 311 $a1-137-56220-X 320 $aIncludes bibliographical references and indexes. 327 $aCover -- Half-Title -- Title -- Copyright -- Dedication -- Contents -- List of Illustrations -- Introduction -- Part I The Malthus-Ricardo Debate -- 1 The Malthus-Ricardo Debate on General Glut and Secular Stagnation -- 2 Say's Principle and the Possibility of Deficient Demand -- Part II Accumulation and Secular Stagnation in the Contemporary United States -- 3 The Theory of Accumulation and Secular Stagnation -- 4 Accumulation and Secular Stagnation in the United States after the Turn of the Millennium -- Some Concluding Thoughts -- Name Index -- Subject Index. 330 $aThomas Malthus identified a crucial tension at the heart of a market economy: While an accumulation of wealth is necessary to provide the capital investment needed to generate growth, too much accumulation will cause planned saving to exceed profitable investment, which will result in secular stagnation, a condition of low growth and underemployment of resources. Keynes drew inspiration from Malthus in his attempt to comprehend the causes of the Great Depression of the 1930s. Now, Aronoff demonstrates how a related but slightly different aspect of Malthus' thought can illuminate one of the most pressing issues of our times. In A Theory of Accumulation and Secular Stagnation, Aronoff explores Malthus' ideas relating to secular stagnation and uses the insight gained to understand the origins of the subpar growth and tepid employment, periodically punctuated by booms, that has plagued the US economy since the turn of the millennium. He explains how the rise of mercantilism among Asian countries ? principally China ? and increased income concentration generated an upsurge in excess saving. This accumulation created a chronic deficiency in demand while also depressing interest rates, which generated a search for yield that fuelled periodic booms. 410 0$aPalgrave pivot. 606 $aFinance?History 606 $aFinance 606 $aEconomic theory 606 $aEconomic policy 606 $aEconomic history 606 $aMacroeconomics 606 $aFinancial History$3https://scigraph.springernature.com/ontologies/product-market-codes/617000 606 $aFinance, general$3https://scigraph.springernature.com/ontologies/product-market-codes/600000 606 $aEconomic Theory/Quantitative Economics/Mathematical Methods$3https://scigraph.springernature.com/ontologies/product-market-codes/W29000 606 $aEconomic Policy$3https://scigraph.springernature.com/ontologies/product-market-codes/W34010 606 $aEconomic History$3https://scigraph.springernature.com/ontologies/product-market-codes/W41000 606 $aMacroeconomics/Monetary Economics//Financial Economics$3https://scigraph.springernature.com/ontologies/product-market-codes/W32000 615 0$aFinance?History. 615 0$aFinance. 615 0$aEconomic theory. 615 0$aEconomic policy. 615 0$aEconomic history. 615 0$aMacroeconomics. 615 14$aFinancial History. 615 24$aFinance, general. 615 24$aEconomic Theory/Quantitative Economics/Mathematical Methods. 615 24$aEconomic Policy. 615 24$aEconomic History. 615 24$aMacroeconomics/Monetary Economics//Financial Economics. 676 $a332.09 700 $aAronoff$b Daniel$4aut$4http://id.loc.gov/vocabulary/relators/aut$0981407 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910255459303321 996 $aA Theory of Accumulation and Secular Stagnation$92260439 997 $aUNINA