Stagnationist

A flat and downward-sloping schedule — the intersection of co-operative and stagnationist regimes — describes a wage-led growth regime, a result which follows immediately from the definition of wage-led growth as one in which a higher rate of accumulation.

In Maxine Berg's recent book, Josef Steindl has argued that his explanation of the stagnationist tendency of the first one-third of the twentieth century could not be straightforwardly applied to that of the last one-third because of the rise in the power of labour and the growth of interneational competition (Steindl 1990).

Marx and subsequent Marxists have extensively discussed countertendencies to the stagnationist tendencies.