Russo, Alberto (2012): Elements of novelty, known mechanisms, and the fundamental causes of the recent crisis.
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We briefly describe the recent evolution of the crisis and, by reviewing some of its explanations based on different theories, we proceed towards our own interpretation. The deregulation wave of the last decades has created new profit opportunities in various contexts – from labour flexibility to privatisation, from financialisation to globalisation – so promoting a renewed process of capitalist accumulation after the stagflation of the 1970s. This has taken place at the cost of a wide-ranging increase of inequality and instability, thus implying a crescendo of crises until the last one (and maybe beyond).
|Item Type:||MPRA Paper|
|Original Title:||Elements of novelty, known mechanisms, and the fundamental causes of the recent crisis|
|Keywords:||deregulation; capitalist accumulation; inequality; instability; crisis|
|Subjects:||E - Macroeconomics and Monetary Economics > E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook > E66 - General Outlook and Conditions
P - Economic Systems > P1 - Capitalist Systems > P17 - Performance and Prospects
G - Financial Economics > G0 - General > G01 - Financial Crises
|Depositing User:||Alberto Russo|
|Date Deposited:||07. Sep 2012 13:37|
|Last Modified:||16. Feb 2013 09:47|
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