“Secular stagnation” refers to the long-run (or secular) tendency for growth rates to stagnate in advanced capitalist economies – associated with high unemployment and excess capacity. It has been a major feature of the contributions of the classical, Marxist and heterodox economists especially Adam Smith and David Ricardo, Karl Marx, Maynard Keynes, Michal Kalecki, Kurt … Continue reading GEOFF HARCOURT and PETER KRIESLER. Secular economic stagnation around the world… Continue reading »