Secular Stagnation, Low Growth, and Financial Instability
Bibliographic Data
| ID | 12155131 |
|---|---|
| Authors | Luiz Carlos Bresser-Pereira (0000-0001-8679-0557, Getulio Vargas Foundation, Sao Paulo, Brazil, corresponding author) |
| Year | 2019 |
| Volume | 48 |
| Issue | 1 |
| Pages | 21-40 |
| Publication date | 2019-01-02 |
| Open Access | No |
| Type | ARTICLE |
| Venue | International Journal of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0891-1916 • E-ISSN: 1558-0970 |
| Publisher | Taylor & Francis (PUBLISHER • GB) |
| DOI | 10.1080/08911916.2018.1550949 |
| OpenAlex | W2943097503 |
| Language | EN |
| Citations received | 5 |
| References cited | 25 |
Rentier-financier capitalism, neoliberalism, and globalization have been in crisis since 2008. It is characterized by low growth rates, quasi-stagnant wages, and increase of inequality since rentiers replaced business entrepreneurs, neoliberalism became the hegemonic ideology, and globalization became the means to achieve the best of all possible worlds. But the rich capitalist world faces the threat of secular stagnation. In this article, I discuss this threat, the main authors who have been discussing it, and the new historical facts that are behind such a threat. Among the threats are the fall of the productivity of capital associated with information and communication technology, the increase of market power, the profusion of capitals, and globalization, which opened room for the successful competition of developing countries. These new historical facts don’t cause stagnation but low growth rates and general uneasiness
Capital (architecture · Capitalism · Competition (biology · Development economics · Economic stagnation · Economics · Financial crisis · Financialization · Geography · Globalization · Hegemony · Ideology · Keynesian economics · Market economy · Neoliberalism (international relations · Political economy · Political science · Politics · Banking stability, regulation, efficiency · Economic Theory and Policy · Housing, Finance, and Neoliberalism · Law
Modern Corporation and Private Property
The Rise and Fall of American Growth
The Rise and Fall of Neoliberal Capitalism
Financialisation and the slowdown of accumulation
Imperialism
Coherence, Diversity, and the Evolution of Capitalisms—The Institutional Complementarity Hypothesis
The Strange Non-Death of Neoliberalism
The New Normal is “Maximizing Shareholder Value”
The American Dual Economy
The New Normal
The managerial revolution
Le néolibéralisme, stade suprême
On the Social Efficiency of Finance
Financialization and Economic Development
The New Industrial State
Is a Finance-led growth regime a viable alternative to Fordism? A preliminary analysis
| Citations per year | 0.71 |
|---|---|
| Citation span | 2019 - 2024 (6) |
| Highly cited | No |