Sawyer, M. orcid.org/0000-0002-4565-5276 (2023) Secular stagnation and monopoly capitalism. Journal of Post Keynesian Economics, 46 (4). pp. 545-565. ISSN 0160-3477
Abstract
The paper opens with a brief review of economic growth in industrialized economies over the past four decades, indicating a general slow-down in growth. This is followed by a brief review of the mainstream views on ‘secular stagnation’. The major section of the paper is based on outlining elements of approaches to secular stagnation within the monopoly capital literature associated with authors such as Steindl, Kalecki and Cowling, followed by consideration of evidence in broad support of those dimensions. This includes the recent, generally upward, trends in industrial concentration, profit margins, and relationship with investment and innovation. Brief remarks are made on the effects of financialization, globalization and climate change on economic growth.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2023 The Author(s). This is an open access article under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives License (CC-BY-NC-ND 4.0). |
Keywords: | Secular stagnation, monopoly capital, investment, financialization |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Business (Leeds) > Economics Division (LUBS) (Leeds) |
Depositing User: | Symplectic Publications |
Date Deposited: | 28 Nov 2023 11:05 |
Last Modified: | 28 Nov 2023 11:05 |
Status: | Published |
Publisher: | Taylor and Francis Group |
Identification Number: | 10.1080/01603477.2023.2270949 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:205987 |
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