User:TerenceSkill/Hagen Krämer

Hagen Krämer (* 1963) is a German Economist and Professor of Economics at Karlsruhe University of Applied Sciences in Germany.

Life
From 1983 to 1989 he studied economics at the University of Bremen and at the New School for Social Research in New York (NY). He received his PhD from the University of Bremen in 1995 with a thesis on Bowley's Law, technological progress, and income distribution. He then held positions in various divisions of Daimler-Benz AG, including Daimler-Benz InterServices (Debis) AG and DaimlerChrysler Services AG, based in Stuttgart and Berlin respectively. In 1999, he was appointed Professor of Economics at the University of Applied Sciences in Karlsruhe, Germany. In 2003 he co-founded the German Keynes Society. He was a guest professor at various institutions and universities, such as the German Institute for Economic Research (DIW) in Berlin, the Macroeconomic Policy Institute (IMK, Düsseldorf), the Fraunhofer Institute for Systems and Innovations Research (Fraunhofer ISI, Karlsruhe) and the University of Graz. He has also held visiting professorships at the Graduate Faculty of the New School for Social Research (New York City) and the School of Political Science and Economics at Meiji University in Tokyo.

He is a member of the standing field committees for the history of economic thought and economic policy within the Verein für Socialpolitik (German Economic Association). He is also a member of the European Society for the History of Economic Thought (ESHET) and serves on its council.

Research
Hagen Krämer’s research encompasses several areas, including the theory and empirical analysis of income and wealth distribution, the services economy, technical progress and digitalization, and the history of economic thought. He published numerous monographs and articles in academic journals.

In his dissertation, he challenged the idea of the alleged long-term stability of the wage share (Bowley's Law). One of his influential works is the book “Saving and Investment in the Twenty-First Century: The Great Divergence”, co-authored with Carl Christian von Weizsäcker. In this book, the authors identify a structural surplus of private savings over private investment in OECD countries and China, leading to negative real interest rates. This surplus is driven by an increase in total savings due to rising life expectancy and a lack of corresponding increase in investment demand. To avoid prolonged stagnation and macroeconomic instability, they argue for increasing public debt to absorb private savings. Together with Christian Proaño and Mark Setterfield, Hagen Krämer published the book “Capitalism, Inclusive Growth, and Social Protection. Inherent Contradiction or Achievable Vision?”. In this book, the authors develop a theoretical framework to endorse a progressive economic policy. Drawing from the MKS (Marx-Keynes-Schumpeter) system, their approach integrates central elements of Marx (distributional conflicts), Keynes (effective demand), and Schumpeter (innovations). Hagen Krämer's research also focuses on the interplay between technological progress, services and structural change. In particular, he studies the cost disease of services (Baumol's cost disease).

Publications (Selection)

 * Bowley’s Law: The Diffusion of an Empirical Supposition into Economic Theory, in: Cahiers d’économie politique / Papers in Political Economy, Vol. 61, No. 2/2011, pp. 19–50. Doi.org/10.3917/cep.061.0019
 * ed. with Heinz D. Kurz and Hans-Michael Trautwein: Macroeconomics and the History of Economic Thought (= Routledge Studies in the History of Economics, Vol. 144). Routledge, London 2012.
 * with Carl Christian von Weizsäcker: Saving and Investment in the 21st Century. The Great Divergence. Springer, Cham 2021. doi.org/10.1007/978-3-030-75031-2_7
 * with Jochen Hartwig: The Growth Disease at 50 – Baumol after Oulton, in: Structural Change and Economic Dynamics, Vol. 51, December 2019, pp. 463–471,
 * with Jochen Hartwig: Baumol’s Cost Disease in Times of Rising Income Inequality, in: Research in the History of Economic Thought and Methodology, Vol. 40B, pp. 27–48. doi.org/10.1108/S0743-41542022000040B004
 * with Jochen Hartwig: Revisiting Baumol’s Cost Disease of Services: Structural Change, Productivity Slowdown, and Income Inequality, in: Intereconomics. Review of European economic policy, 2023, No. 6, pp. 285–291. doi.org/10.2478/ie-2023-0066
 * with Christian Proaño and Mark Setterfield: Capitalism, Inclusive Growth, and Social Protection: Inherent Contradiction or Achievable Vision?, Edward Elgar Publishing, Cheltenham (UK), Northampton (MA). doi.org/10.4337/9781786433077
 * What are Services? Misconceptions and Neglected Insights from the Productivity Controversy in the Classical Period, in: European Journal of the History of Economic Thought, Vol. 30, No. 6. doi.org/10.1080/09672567.2023.2292804

Weblinks

 * Profile of Hagen M. Krämer on the Homepage of Karlsruhe University of Applied Sciences