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SECOLAE STAGNATION HYPOTHESIS

Problem of excessive savings




BOOKS refuting secular stagnation thesis:
Beorge Terborgh
Swanson and Schmidt
Books containing passages dealing with it:
Fellner
Vrifht
Keirstead
Resurgence of interest in problems of economic
grovth—of which stagnation thesis is a part
Domar
Sveezy
Florin
Council of Economic Advisers



STAGNATION THESIS
D e d i a i n g INVESTMENT OPPORTUNITIES




ABRAMOWITZ, M.
Savings and investment: profits vs.
prosperity, AER, Sup. XXXII, June 1942




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ABRAMOVITZ, Moses
"Savings and Investment: Profits vs. Prosperity?"
THE AMERICAN ECONOMIC REVIEW, SUPPLEMENT, XXXII, No. 2,
Part 2, June, 19A2, pp. 53-38.




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ELLIS,fl.S.
Monetary policy and investment, AER, Sup.
XXX, Mar. 1940
re Hansen1s book Full Recovery or Stagnation
and ¥. I. Kings's paper JPE, v. 43, Oct. 1939




ELLIS, Howard S.
Monetary Policy and Investment, AMERICAN
ECONOMIC REVIEW, SUPPLEMENT, XXX, March, 1940,
pp. 27-43.
declining opportunities for investment




FELLHER, Wa. J.
Monetary policies and hoarding in periods of
stagnation, JOURNAL OF POLITICAL ECONOMY,
June 194-3.




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FELLNER, William
The technological argument of the stagnation
thesis, QUARTERLY JOURNAL OF ECONOMICS,
August, 1941, pp. 638-52.







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FRANZSEN, D. G.
The secular stagnation t h e s i s and the
problem of economic s t a b i l i t y , SOUTH AFRICAN
JOURNAL OF ECONOMICS,
December, 1942.
Pp. 13.




Franzsen, D. G. The Secular Stagnation Thesis
and the Problem of. Economic Stability.
The South African Journal of Economics,
December, 1942*




Gilbert, Richard V. et. al.

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M ECONOMIC PROGRAM FOR AMERICAN DEMOCRACY
by 7 Harvard and Tufts economists.
Cambridge, Mass, 1938




HANSEN, A. E*
"Some notes on mpborgh's tTke Bogey of
Economic Maturity/«
REVIEW OF ECONOMIC STATISTICS,
XXU, no. 1, Feb. 1946, pp. 13-17.
TERBOBGH, George: Dr. Hansen on fThe Bogey of Economic
Maturity," loc. cit., Aug. 1946 pp. 170-2.




HANSEN, A. H.
Some-tNotes on Terborgh' s "The Bogey of
Economic Maturity"
REVIEW OF ECONOMIC STATISTICS,
XXVIII, February 1946, 13-17




HANSEN, A. H.
Some notes on Terborgh's 'The Bogey of
Economic Maturity," REVIEW OF ECONOMIC STATISTICS,
February, 1946.
Pp. 5.




HANSEN, A. R.
Extensive expansion and population growth,
JKHJENAL OF POLITICAL ECONOMY, XLVIII, No. 4,
August, 1940, pp. 583-85.
note on H. L. Reed's "Economists on Industrial
Stagnation," JPE, XLVIII, No. 2, April, 1940,
pp. 244-25O.







HANSEN, Alvin H.
"Economic Progress and Declining Population
Growth," THE AMERICAN ECONOMIC REVIEW, SUPPLEMENT,
XXIX, March, 1939, pp. 1-15.
Presidential address delivered at the 51st Annual Meeting
of the Am. Econ. Assn., Detroit, Mich., Dec. 28,
1933.




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HANSEN, Alvin H.
fULL RECOVERY OR STAGNATION? New York:
Norton, 1938. Pp. 350.
Review:
by Simon Kuznets, AMERICAN ECONOMIC REVIEW,
XXVIII, December, 1938, pp. 752-53.

Part I :

Keynes (general theory); Harrod, Hayek;
s o c i a l c r e d i t proposals (Major Douglas), and rec
cent trends i n business-cycle l i t e r a t u r e .




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HIGGIHS, B. H.
"The Doctrine of Economic Maturity, 11 AER,
xxxvi, Mar. 194,6,
133-41
Mote by Dr. Terborgh, 141.




HIGGINS, Benjamin
The doctrine of economic maturity, AMERICAN
ECONOMIC REVIEW, XXXVI, March, 1946, pp. 133-Hlj
Note by Dr. Terborgh, i b i d . , p. 141.




Hildebrand, Jr.
Monopolization and the decline of investment
opportunity, AER, XXXIII, Sept. 1943




HOOVER, Edgar M.
Capital Accumulation and Progress,
AMERICAN ECONOMIC REVIEW, SUPPLEMENT, Vol. 40,
May, 1950, pp. 124-135.
Discussions

by Yale Brozen, D. M. Wright, Ralph W.
Hidy, pp. 136-143outlets for saving. A reexamination of Keynesian stagnationist
thesis.




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JOELSOHN, Walter
Die Theorie der sfikularen Stagnation.
Vienna* Springer-Verlag, 1952. Pp. 136.
Review: by Wolfgang F. Stolper, JOURNAL OF POLITICAL
ECONOMY, L H , April, 1953, pp. 174.-5.




JONES, Martin V.
Secular trends and idle resources.
(Doctoral thesis, Chicago, 1944)
Journal of Business, Studies in Business
Administration, Vol. XIV, No. 4, Oct. 1944

Bus. cycles;
Ph.D., Chicago, 1944







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KING, Willford I.
Are we suffering from economic maturity?
JOURNAL OF POLITICAL ECONOMY,
October, 1939.




KING, W. I .
Are ve suffering from economic maturity?
JOURNAL OF POLITICAL ECONOMY, V41. l£>, No. 5,
October, 1939, pp. 609-622.




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LANGE, Oscar
Is the American, economy contracting?
AMERICAN ECONOMIC REVIEW, X H X , September, 1939,
pp. 503-513.










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NEISSER, H. P.
Stability in late capitalism, SOCIAL
RESEARCH, v. 21, Spring, 1954, pp. 11-42.
1895-1914 state of progressive ec. equilibrium
in 1920fs changes in ec. structure (esp.
in U.S.)
consumer durable goods
tho vanishing backlog demand and reduction in armament U.S. outlook
helped by automatic stabilizers, increase
of old age people, erratic upsurges in gov
exos. 8nd innovations



REDDAWAX, ¥. B.
"Special obstacles to full employment in a
wealthy canaaunity," THE ECONOMIC JOURNAL, vol. 47,
June, 1937, pp. 297-307.
Keynes1 General Iheory, ch. 22;
A.G.B. Fisher: The Clash of Progress and
Security




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REDDAVAY, W. B.
Special obstacles to f u l l employment in
a wealthy community, ECONOMIC JOURNAL, V, YJ
June, 1937.
Pp. 1 1 .




REED, Harold L.
Economists on industrial sfaviation, JOURNAL
OF POLITICAL ECONOMY, ^^.v H
April, 1940. fp
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REED, Harold L.
"Economists on Industrial Stagnation,"
JOURNAL OF POLITICAL ECONOMI,
April 1940, pp. 244-250.




SAIEES, R. S.
The springs of technical progress in
Britain, 1919-39, ECONOMIC JOURNAL, LX,
1950, pp. 275-39.




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SIMONS, Henry C.
Hansen on Fiscal Policy




JPE, April, 1942, p y 3<JI-

SLICHTER, Sumner H.
The conditions of expansion, AMERICAN
ECONOMIC REVIEW, XXXII, March, 1942, pp. 1-21.
Presidential address, American Econ. Assn.




M
V.F.
"Mature economy"
bUSI:liL33 ^ l i c h t e r , Sumner H.
CONDITIONS
Business looks ahead. ( I n r A t l a n t i c monthl y , November, 1939, p . 592-600)
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Refutes idea of T. N# ii. C. t h a t im have a
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"mature economy11
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BU3i.i4ii.S6
Business looks ahead.
{In: Atlantic monthCONDITIONS l y , fio^enber, 1959, p,592 ~ 600)
Refutes idea of T. N# E. C# t h a t we have
a "mature economy11
Clipped and f i l e d i n

(Business conditions
Mature economy




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SMITH, Howard R.
The Status of Stagnation Theory. Part© I-II.
THE SOUTHERN ECONOMIC JOURNAL,
Pt. I — Vol. XV, No. 2, October, 1948.
Pt. II —




Vol. XV, No. 3, January, 1949.

SMITH, Howard R.
The Status of Stagnation Theory.
Part I, So. Econ. Journal, XV, Oct. 1948,
pp. 191-204.




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SMITH, Howard E.
The Status of Stagnation Theory. P a r t s I - I I
THE SOUTHERN ECONOMIC JOURNAL, XV, No. 2, October,
1948^ pp.
J and XV, No. 3 ,
January, 1949, pp.

MORS, Allace




STEENDL, J.
MATURITY AND STAGNATION IN AMERICAN CAPITALISM.
Oxford University Institute of Statistics Monograph
No. 4. New York: Augustus M. Kelly.
Pp. ix, 248.
Review: by D. Hamberg, AMERICIN ECONOMIC REVIEW, vol. AA,
June, 1954, pp. 43-4-18.




STSIHDL, J .
MATCTRITX AHD STAGHASIfli IJI AMERICAN CAPITALISM.
Oxford: B a s i l B l a c k v e l l , 1952.




a study of long-term economic
development

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STEINDL, J .
MATURITY AND STAGNATION IN AMERICAN CAPITALISM.
Oxford, B a s i l B l a c k w e l l [ i n p r e p a r a t i o n ,
1951]




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Maturity

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STEINDL, J.
MATUFITY AND STAGNATION IN AMERICAN CAPITALISM.
Oxford: Basel Blackwell, 1952. Pp. 248.
Feviev:
note by A. H. Hansen, REVIEW OF ECONOMICS &
STATISTICS, Vol. 36, Nov., 1954, pp. 409-4U.




STEINDL, J .
MATURITX AMD STACMATIQN I N AMERICAN CAPIT*I$£M.
OcfonH

B a s i l B l a c k w e l l , 1952.

Pp. 248.

Reviewed:
Theory o f investment d e c i s i o n s , chaps.
IX and X.
by Ron Hieser, ECONOMIC RECORD, May 1954., pp. 106-9
by A. H. Hansen, AMERICAN ECONOMIC REVIEW,



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SWANSON, E r n s t V. and SCHMIDT, Emerson P .
ECONOMIC STAGNATION OR PROGRESS: A CRITIQUE
OF RECENT DOCTRINES ON THE MATURE ECONOMY, OVERSAVINGS,
AND DEFICIT SPENDING. Nev York: McGraw-Hill Book C o . ,
I n c . , 1946. Pp. x i , 212.
heviev:
by L. R. K l e i n , JOURNAL OF POLITICAL ECONOMY,
V o l . LV, A p r i l , 1 9 4 7 , p p . 1 6 0 - 7 0




SWAMSOK, E. W. and SCHMIDT, E/ P.
Economic Stagnation or Progress: A Critique of
Recent Doctrines on the Mature Economy, Oversavings,
and Deficit Spending. London: McGraw-Hill, 1946.




SWANSON, E. ¥. and SCHMIDT, E. P.
ECONOMIC STAGNATION OR PROGRESS*^ CRITIQUE OF
RECENT DOCTRINES ON THE MATURE ECONOMY, OVERSAVINGS,
AND DEFICIT SPENDING. New York: McGraw-Hill, 1946.
Pp. 3d, 212.

Review:

by H. Gordon Hayes, AMERICAN ECONOMIC
REVIEW, XXXVII, June 1947, pp. 458-59.




SVANSON, E r n s t W. and SCHMIDT, Emerson P .
ECONOMIC STAGNATION OR PROGRESS?
McGraw-Hill, 1946. P p . x , 1 9 7 .
Review:

Nev York:

by H. Gordon Hayes, AMERICAN ECONOMIC REVIEW,
XXXVII, J u n e , 1947, pp. 4 5 8 - 5 9 .

Subtitle of book: A critique of recent doctrines on
the mature economy, oversavings, and d e f i c i t spending.







SWEEZ7, Alan R.
"Secular Stagnation," in POSTWAR ECONOMIC
PROBLEMS, edited by S. E. Harris. New York: McGrawHill, 1943.




TERBORGH, George
THE BOGEY OF ECONOMIC MATURITY. Chicago:
Machinery & Allied Products Institute, 194-5.
Review: by Thor Hultgren, JOURNAL OF POLITICAL ECONOMY,
vol. LV, Aug. 1947, pp. 363-4..







TERBORGH, George
The Bogey of Economic Maturity




FORTUNE, June 194-5
pp. 138-139, 239-242, 245-24-8,
251-

TERBORGH, George
"Dr. Hansen on 'The Bogey of Economic Maturity,"
RES, XXVIII, No. 3, Aug. 194-6, pp. 170-72.




VRIGHT, David MoCcaA
"The gr«at guessing gABe": Terborgh vermis
Hansen, REVIEW OF ECONOMIC STATISTICS, OTX, no. 1,
February, 1946, pp. 18-22.




WRIGHT, D. McC.
•fhe great guessing game1: Terborgh versus
Hansen, REVIEW OF ECONOMIC STATISTICS,
February, 194-6 •
Pp. 5.




WRIGHT, David IfeCord
"The Great Guessing Game": Terborgh
Versus Hansen.
REVIEW OF ECONOMIC STATISTICS,
XXVIII, February 19^6. 18-22