000 04567nam a22005775i 4500
001 978-3-030-75031-2
003 DE-He213
005 20240508082117.0
007 cr nn 008mamaa
008 210629s2021 sz | s |||| 0|eng d
020 _a9783030750312
_9978-3-030-75031-2
024 7 _a10.1007/978-3-030-75031-2
_2doi
050 4 _aHB172.5
072 7 _aKCB
_2bicssc
072 7 _aBUS039000
_2bisacsh
072 7 _aKCB
_2thema
082 0 4 _a339
_223
100 1 _avon Weizsäcker, Carl Christian.
_eauthor.
_4aut
_4http://id.loc.gov/vocabulary/relators/aut
245 1 0 _aSaving and Investment in the Twenty-First Century
_h[electronic resource] :
_bThe Great Divergence /
_cby Carl Christian von Weizsäcker, Hagen M. Krämer.
250 _a1st ed. 2021.
264 1 _aCham :
_bSpringer International Publishing :
_bImprint: Springer,
_c2021.
300 _aXXI, 343 p. 26 illus., 22 illus. in color.
_bonline resource.
336 _atext
_btxt
_2rdacontent
337 _acomputer
_bc
_2rdamedia
338 _aonline resource
_bcr
_2rdacarrier
347 _atext file
_bPDF
_2rda
506 0 _aOpen Access
520 _aThe economy of the 21st century in the OECD countries and in China, is characterized by a new phenomenon: the structural surplus of private savings in relation to private investment. On the one hand, this excess saving is due to people's increasing inclination to save in light of rising life expectancy. On the other hand, investment is not keeping pace with the rising desire to save. The resulting gap between the private desire for wealth and private investment can only be closed by increasing public debt. This open access book offers a new, capital-theoretical perspective on the macroeconomic relationship between desired wealth and investment, and it presents new empirical data on private wealth and its composition in the OECD plus China area. The authors argue that a free economic and social order can only be stabilized if the wealth aspirations of individuals are met under conditions of price stability. This is not possible without substantial net public debt. A newway of thinking about the economy as a whole is required. By way of an in-depth theoretical and empirical analysis, the book demonstrates this new way of thinking and describes the current challenges facing economic policy. An impressive, and convincing theoretical dive into the fundamentals behind secular stagnation, with very strong implications for actual debt policy. Public debt may be needed to improve welfare. Olivier Blanchard, Senior Fellow at the Peterson Institute for International Economics and Professor of Economics Emeritus at Massachusetts Institute of Technology (MIT). Chief Economist at the International Monetary Fund from 2008 to 2015. Saving and Investment in the Twenty-First Century gives a wholly new perspective on macroeconomics. (...) Weiz­säcker and Krämer describe a simple, practical solution to the underemployment that has plagued Southern Europe for more than a decade. George Akerlof, Nobel Laureate in Economics, 2001. Professor at the McCourt School of Public Policy at Georgetown University and Professor of Economics Emeritus at the University of California, Berkeley. This is a profound and original contribution that can help us to understand and act on the great issues of our times. Nicholas Stern, Grantham Research Institute on Climate Change and the Environment at the London School of Economics. Author of the Stern Review Report on the Economics of Climate Change. Chief Economist at the World Bank from 2000 to 2003.
650 0 _aMacroeconomics.
650 0 _aEconomic policy.
650 0 _aFinance, Public.
650 0 _aInternational economic relations.
650 0 _aEconomics
_xHistory.
650 1 4 _aMacroeconomics and Monetary Economics.
650 2 4 _aEconomic Policy.
650 2 4 _aPublic Finance.
650 2 4 _aInternational Economics.
650 2 4 _aHistory of Economic Thought and Methodology.
700 1 _aKrämer, Hagen M.
_eauthor.
_4aut
_4http://id.loc.gov/vocabulary/relators/aut
710 2 _aSpringerLink (Online service)
773 0 _tSpringer Nature eBook
776 0 8 _iPrinted edition:
_z9783030750305
776 0 8 _iPrinted edition:
_z9783030750329
776 0 8 _iPrinted edition:
_z9783030750336
856 4 0 _uhttps://doi.org/10.1007/978-3-030-75031-2
912 _aZDB-2-ECF
912 _aZDB-2-SXEF
912 _aZDB-2-SOB
999 _c37579
_d37579