When former US Treasury secretary Lawrence Summers delivered his famous address on the return of secular stagnation at the IMF in 2013, he revived interest in a Keynesian construct that had fallen into disuse since the 1940s. He argued that a chronic excess of savings, relative to capital investment, may be developing in the global economy, forcing long-term interest rates down and threatening a persistent shortage of demand.
2013年,當(dāng)美國(guó)前財(cái)長(zhǎng)勞倫斯?薩默斯(Lawrence Summers)在國(guó)際貨幣基金組織(IMF)就長(zhǎng)期停滯的再次出現(xiàn)發(fā)表著名演講時(shí),他重新燃起了人們對(duì)于上世紀(jì)40年代之后被丟棄的一種凱恩斯思想的興趣。他指出,相對(duì)于資本投資的儲(chǔ)蓄長(zhǎng)期過(guò)剩可能正在全球經(jīng)濟(jì)中形成,這將迫使長(zhǎng)期利率下滑,并可能導(dǎo)致需求持續(xù)不足。