Rather, I’m talking about Professor Alvin Hansen, who coined the phrase “secular stagnation” in 1938, during the Great Depression. Of course, soon after Hansen published his views, U.S. growth took off amid a burst of spending and demand related to the Second World War.
Those special interests are likely to exert less influence if the rules are agreed on at the international level. 6 2. How has global economic governance fared during the global financial crisis? Let me now turn to analyse how our global institutions have fared during the global financial crisis.