Full Recovery or Stagnation?

  • Paul M. Sweezy
  • Harry Magdoff
Keywords: Stagnation, Political Economy


This was the title of a book by Alvin Hansen published in 1938. It was concerned with the two most basic economic problems of the 1930s: (1) Why did the cyclical recovery which began in 1933 come to an end and the economy turn down in the summer of 1937 when unemployment was still more than 14 percent of the labor force? And (2) what was likely to be the fate of the recovery of 1938 which was underway at the time of the book's publication?
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