‘Secular stagnation’

Are the rich economies of the world facing long-run ‘secular stagnation’? If so why?
Consider the long run headwinds that are impacting these economies – eg aging demographics, the

changing contribution of education, growing inequality, fiscal constraints. Can/will technological progress

come to the rescue? What are the likely macroeconomic implications of these innovations? Relate your

answer to endogenous growth modelling.

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