How secular stagnation came to Smurf village
Secular stagnation was the term used by Larry Summers in 2013 to explain the refusal of the post-2008 recession era economies to respond to the various stimuli attempted to be provided by central banks. But “Secular stagnation” is a misunderstood term, writes Dan Davies in The Long & Short. He imagines how secular stagnation may come to a Smurf village to help us with a better understanding of the term.
From The Long and Short