Erdogan Bakir, Associate Professor of Economics
A significant number of left political economists hold that the U.S. Great Recession and subsequent lethargic performance are a crisis of over-capacity that resulted from over-investment. Kotz (2011, 2013) has recently attempted to provide empirical support for this position. Despite sharing an understanding of the crisis very similar to his, the authors find in this paper that a careful examination of his evidence does not support considering this to be a crisis of over-investment.
Bakir, Erdogan and Campbell, Al. “Is Over-investment the Cause of the Post-2007 US Economic Crisis?.” Review of Radical Political Economics 47, no. 4 (2015) : 550-557.