Summers on Secular Stagnation

It's good to see Larry Summers continue to press the case on secular stagnation. There are three points worth adding to his account.

First, dealing with bubbles really should not be that hard. The sort of bubbles that actually pose threats to the real economy (e.g. not the bubble in bitcoin prices) are easy to spot. Bubbles like the stock bubble in the 1990s and the housing bubble in the 2000s actually move the economy. It was easy to recognize this fact at the time and it would be easy to re...