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Secular Stagnation


Secular Stagnation


Christine Ax – Economist, Expert for Sustainable Development and Writer, Hamburg
Angelika Zahrnt – Honorary chair, Friends of the Earth Germany
Stephan Schulmeister – Economic researcher and university lector

Panel chair:

Friedrich Hinterberger – Head of Sustainable Europe Research Institute Vienna (SERI)
Johann Jachs – Secretary, Club of Rome – Austrian Chapter



Short description:

Facing an economic growth slightly above zero percent and similar forecasts, the world is looking more and more towards Japan, which is handled as a Laboratory for a „Secular Stagnation“. The term describes a long Phase of weak economic growth under the condition of low real interest as well as low inflation. As potential causes, decreasing population, underinvestment/overmuch saving or inequality are discussed.
This is the main topic of the workshop, in which (i) the main focus lies on the consequences (not so much the causes) and (ii) Japan serves as an anchor point. Christine Ax will depict the social and socio-political changes in Japan caused by the Stagnation – Lessons for Europe.
The economical aspect or rather the impacts on the economical system will be explained by a presentation, held in Vienna by Dr. Richard A. Werner, Professor of International Banking at the University of Southampton/UK. In the following Discussion (maybe in groups), both aspects should be more prepared and the outcomes shall be presented.
Irmi Seidl and Damien Demailly are looking for ways towards good economics in Europe without growth too. The actual development in Greece can give further indications on how to deal with such a situation.

Organised by:

Sustainable Europe Research Institute (SERI)
Club of Rome – Austrian Chapter