Kevin Drum is looking for stagnititis

Larry Summers, Secular Stagnation, and the Great Investment Drought

For some reason, the investment community doesn't believe that expanding production of real-world goods and services to maximum levels will pay off. If Summers is right, this is not a temporary condition that can be solved with monetary policy, it's a permanent change in the economy. But why? One way or another, the answer has to get back to the real world. That's where everything starts.

Kevin needs an economic theory of denial.