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- W4382401894 abstract "Four decades ago, Hayek and Schumpeter – two giants among the social philosophers of this century – foresaw an irreversible shift towards centralization and bureaucracy. Five decades ago, the American Keynesians, notably Alvin Hansen, predicted secular stagnation. They envisaged a saturation of consumer wants, declining population growth, and a dearth of opportunities for autonomous investments that arise from inventions and innovations and from the existence of a geographic frontier. Both predictions turned out to be wrong. A cyclical decline was mistaken for a trend, similar to the Communist Manifesto which, a century before, had misjudged a period of relative stagnation as an indicator of the inevitable breakdown of the market system…" @default.
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- W4382401894 date "1986-01-01" @default.
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- W4382401894 title "Trade Liberalization and Economic Growth in Europe and the United States" @default.
- W4382401894 doi "https://doi.org/10.1142/s0116110586000076" @default.
- W4382401894 hasPublicationYear "1986" @default.
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