From the Economic Policy Institute (http://www.epi.org/):
Economic observers have become increasingly worried about “secular stagnation”—a chronic shortfall of aggregate demand—fearing that this shortfall will constrain American economic growth in the years ahead. In a new paper, EPI Research Director Josh Bivens argues that the problem of secular stagnation can be solved, in part, by addressing income inequality. “For the past decade, the primary constraint on economic growth has been too-slow spending by households, businesses, and governments,” says Bivens. “There is clear evidence that raising wages for the vast majority would jump-start economic growth by boosting growth in aggregate demand.”
Read more at http://www.epi.org/publication/secular-stagnation/.
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