David M. Kotz, Deepankar Basu

Abstract

The stagnation in the US economy since 2008 has given rise to a mainstream stagnation literature. This paper offers a critique of that literature and proposes an explanation for the current stagnation based on social structure of accumulation (SSA) theory. It presents historical and econometric evidence for an SSA-based explanation of the current stagnation and considers the implications for the likely near-future course of economic policy and institutional change.

Keywords

Accumulation, stagnation, social structure of accumulation

From: Review of Radical Political Economics 2019 51 (1)

Editor: Wang Yi