(See Tyler Cowen's wonderful "The Great Stagnation" for more on that).
This, in turn, has led to a host of ills, including worker abuse, sexism, economic stagnation and more.
A second reason for Asia's economic stagnation is more difficult to articulate but has to do with what might be called a culture of complacency.
That triumph was followed by a dreary period of diplomatic stagnation - and more military-strategic reverses, inflicted first by Arabs, then Israelis, then Arabs again.
The slide in the yen is a product of an effort by Japan's new prime minister, Shinzo Abe, to revive the no-growth, no-inflation Japanese economy that has been mired in stagnation for more than two decades.
The idea that no future generation will devise ways to top this one is as misplaced now as it has always been, say those who believe the stagnation has more to do with drugs than anything else.
"China's lead in the PC market is a huge shift that reflects the rising fortunes of emerging markets as well as the relative stagnation of more mature regions," said Loren Loverde, the program vice president of Worldwide PC Tracker for IDC.
It could also be the case that after four or five years of economic slump and stagnation, ever more citizens have been forced to confront the harsh reality of life on benefits, either first hand or witnessing friends and family being ground through the mill.
Some rainfed areas are also affected by deep water flooding where water stagnation is more than 1 m.
On one measure, Mr Haldane said, total factor productivity had shown its longest stagnation in more than 200 years.
