Date of Award
5-2016
Access Control
Open Access
Degree Name
Applied Economics, M.A.
Department
Economics and Finance Department
Advisor
William T. Ganley, Ph.D., Professor of Economics
Department Home page
http://economics.buffalostate.edu/
First Reader
William T. Ganley, Ph.D., Professor of Economics
Second Reader
Ted P. Schmidt, Ph.D., Associate Professor of Economics
Third Reader
Bruce L. Fisher, J.D., Visiting Professor and Director
Abstract
The purpose of this thesis is to study the theory of secular stagnation, which was made famous by the American Keynesian economist Alvin Hansen in his book Full Recovery or Stagnation. The theory of secular stagnation has reappeared in economic circles today due to recent economic conditions since the financial crisis of 2007-2008. The thesis will analyze the history of the stagnation theory dating back to Classical economists in the 19th century. The concept of a stagnating economy has been talked about for centuries with many economists adding important thoughts. Furthermore, the thesis will address the current questions and examine whether the stagnation claims have merit in today’s economy. High unemployment and slow economic growth in developed countries including the United States may be explained by the theories of secular stagnation and the matured economy.
Recommended Citation
Lukacovic, Francis J. II, "From the Classical School to Today: The Evolution of Stagnation Theories" (2016). Applied Economics Theses. 15.
https://digitalcommons.buffalostate.edu/economics_theses/15
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