The stagnation of the world economy
==========
The world economy has slowed since the 2008 financial crisis; conservative economists now use 'secular stagnation' to describe the situation; GDP growth rates from 1961 to 2018 show a decline from 5.4% (1961-1973) to 2.7% (2007-2018); the neo-liberal period has resulted in lower growth compared to the dirigiste period; post-2018 growth rate is only 2.1% per annum; income inequality has increased, with the top 10% earning over half of global income; the majority of the population experiences stagnation in real incomes; state intervention is necessary for growth, but is hindered by global finance; low interest rates in the US did not revive the economy; the current state of neo-liberal capitalism contradicts Keynes' vision of stable capitalism.
#Economy #Stagnation #Gdp #Neoliberalism #IncomeInequality #FinancialCrisis #StateIntervention #Globalization #PoliticalEconomy #PrabhatPatnaik
https://mronline.org/2024/10/05/the-stagnation-of-the-world-economy/
MR Online /
npub13n…rg8hu
2024-10-05 10:52:04
Author Public Key
npub13n6kznc54l36fw0s8fwp5welxwvg2j5flyj5ykrxvmy7r7qp88tqzrg8huPublished at
2024-10-05 10:52:04Event JSON
{
"id": "963a5ad722ebdeb2c1fa8978a70faeba271728bb75a1d200513877722a77f304",
"pubkey": "8cf5614f14afe3a4b9f03a5c1a3b3f3398854a89f92542586666c9e1f80139d6",
"created_at": 1728125524,
"kind": 1,
"tags": [],
"content": "The stagnation of the world economy\n==========\n\nThe world economy has slowed since the 2008 financial crisis; conservative economists now use 'secular stagnation' to describe the situation; GDP growth rates from 1961 to 2018 show a decline from 5.4% (1961-1973) to 2.7% (2007-2018); the neo-liberal period has resulted in lower growth compared to the dirigiste period; post-2018 growth rate is only 2.1% per annum; income inequality has increased, with the top 10% earning over half of global income; the majority of the population experiences stagnation in real incomes; state intervention is necessary for growth, but is hindered by global finance; low interest rates in the US did not revive the economy; the current state of neo-liberal capitalism contradicts Keynes' vision of stable capitalism.\n\n#Economy #Stagnation #Gdp #Neoliberalism #IncomeInequality #FinancialCrisis #StateIntervention #Globalization #PoliticalEconomy #PrabhatPatnaik\n\nhttps://mronline.org/2024/10/05/the-stagnation-of-the-world-economy/",
"sig": "12980f4b968fd71d6d6a1291bb38ce81d2d1c1217244f16825a2525bc4b7a2ab9c7f96a20099fcf03a2e86eb411f8980a626dc7a461b9184ea399a2df2dc8a06"
}