Secular stagnation.

I pointed out earlier this year that “secular stagnation” is B.S., e.g. here and here.

So it’s good to see Bill Mitchell putting the boot in.

Put that another way, Larry Summers, who got everyone excited about secular stagnation earlier this year, is a twit.

But the moral here is that if you produce a semi-technical sounding phrase like “secular stagnation” or “weapons of mass destruction” you’ll fool about 75% of the population, including the intelligentsia.