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  Taking Crisis Seriously: Capitalism on Its Way Out

Streeck, W. (2014). Taking Crisis Seriously: Capitalism on Its Way Out. Stato e Mercato, (1), 45-67. doi:10.1425/76469.

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 Creators:
Streeck, Wolfgang1, Author           
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1Institutioneller Wandel im gegenwärtigen Kapitalismus, MPI for the Study of Societies, Max Planck Society, ou_1214549              

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Free keywords: Capitalist systems; Financial Crisis; Capitalist Enterprises
 Abstract: Advanced capitalism has been in a critical condition since the 1970s but this was not taken seriously enough by the reformist Left. Looking back at the successive crises of inflation, public debt and financialization, and pointing to the related long-term trends of declining growth, rising inequality and growing overall indebtedness, it is suggested that now, finally, capitalism is beyond repair. Among other things, there is no political capacity in a global economy to protect the three "fictitious commodities" - labor, nature and money - from all-out commodification and, ultimately, destruction. Moreover, five disorders of contemporary capitalism are reviewed for which no remedy is in sight: stagnation, oligarchic redistribution, the plundering of the public domain, corruption, and international anarchy.

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Language(s): eng - English
 Dates: 2014
 Publication Status: Issued
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 Rev. Type: Peer
 Identifiers: DOI: 10.1425/76469
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Title: Stato e Mercato
Source Genre: Journal
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Pages: - Volume / Issue: (1) Sequence Number: - Start / End Page: 45 - 67 Identifier: ISSN: 0392-9701