Steven Fazzari


Steven Fazzari is the Bert A. and Jeanette L. Distinguished Professor of Economics at Washington University in St. Louis and a member of INET’s Academic Council.  He received his Ph.D. in economics from Stanford University in 1982.  Professor Fazzari’s research explores two main areas:  the financial determinants of investment and R&D spending by U.S. firms and the foundations of Keynesian macroeconomics.  His published articles appear in a wide variety of academic journals and books. A recent search found over 3,000 citations to Fazzari’s publications in the Research Papers in Economics database (approaching 11,000 in Google Scholar).  In addition, his research supported by INET has been highlighted in the national and international media, with recent attention to the link between rising income inequality and slow economic growth.   

Fazzari teaches macroeconomics.  He teaching awards include the Missouri Governor’s award for excellence in university teaching and Washington University’s distinguished faculty award. Fazzari served six years as chair of the Department of Economics and recently began a new job as chair of the newly founded Department of Sociology. 

  • CV (194.61 KB)

By this expert

The IRA as a Climate Bill

Article | Sep 15, 2022

Steven Fazzari’s commentary for an INET symposium on the Inflation Reduction Act

Covid Is Hitting Workers Differently Than the 2008 Financial Crisis

Article | Apr 19, 2021

Unlike the Great Recession, the pandemic has hit women workers harder than men, and disproportionately hurt the job prospects of lower education workers.

US Employment Inequality in the Great Recession and the COVID-19 Pandemic

Paper Working Paper Series | | Apr 2021

Unlike the Great Recession, the pandemic has hit women workers harder than men, and disproportionately hurt the job prospects of lower education workers

The American Rescue Act: Do Whatever It Takes

Article | Jan 19, 2021

The economy is likely to be crippled for months and fiscal rescue on a large scale, once again, is very much necessary.

Featuring this expert

NPR features INET Working Paper on the racial and gender inequality of the pandemic

News May 4, 2021

“Researchers involved in a new study from Washington University say women could be in trouble financially for years to come because of significant job losses during the crisis. “We have to be somewhat concerned that the larger inequality effects of the current crisis could have these persistent impacts on wages and on career progress in all the groups that are disproportionately affected,” said Steven Fazzari, a professor of economics and sociology at Wash U who co-authored the study.” — Andrea Y. Henderson, St. Louis Public Radio NPR

Steven Fazzari cites his INET article in an interview at Washington University

News Mar 12, 2021

“I believe they mostly got this right. Just before President Biden took office, I presented some thoughts on what a rescue plan should include to deal with the macroeconomic challenges of the pandemic. I emphasized four broad areas: public health spending, enhanced unemployment benefits, assistance to state and local governments, and so-called “stimulus checks” to households. The legislation the president has signed does a pretty good job in all four areas.” — Sara Savat, Washington University News Room

Are We Destined for a Slow Growth Future?

Video | Apr 5, 2018

Steve Fazzari argues that stimulating demand is the key to jump-starting stagnant economies

Is Slow Growth the “New Normal”?

If So, What Are the Policy Solutions?

Event Conference | Hosted by Secular Stagnation | Dec 15, 2017

Distinguished Scholars Including Larry Summers and Adair Turner Present Evidence of the Trend and Policy Solutions