Krugman, Greider, and the Continuing Saga of Sustained Secular Stagnation

Paul Krugman continues to delve into the depths of sustained secular stagnation asking about the possibility of a prolonged period where the economy does not self-correct to full employment. In the process he takes a sidestep to tell readers that this is not the secular stagnation story of Bill Greider from the 1990s. This to one is worth a moment's thought. (Just to be clear, I consider both Krugman and Greider friends, so I don't have a particular ax in grind in this story.)

Greider hit on...