A Theory of Accumulation and Secular Stagnation: A Malthusian Approach to Understanding a Contemporary Malaise

• Main Author: Aronoff, Daniel (Author)
• Corporate Author: SpringerLink (Online service)
• Format: Electronic eBook
• Language: English
• Published: New York : Palgrave Macmillan US : Imprint: Palgrave Pivot, 2016.
• Subjects: Finance.; Finance > History.; Economic theory.; Macroeconomics.; Economic history.; Financial History.; Finance, general.; Economic Theory/Quantitative Economics/Mathematical Methods.; Political Economy/Economic Policy.; Economic History.; Macroeconomics/Monetary Economics//Financial Economics.

Thomas 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 stagna...