Capital Resurgent: Roots of the Neoliberal Revolution
| Author | : | |
| Rating | : | 4.17 (696 Votes) |
| Asin | : | 0674011589 |
| Format Type | : | paperback |
| Number of Pages | : | 256 Pages |
| Publish Date | : | 2017-11-10 |
| Language | : | French |
DESCRIPTION:
Gérard Duménil is a Director of Research at the Centre National de la Recherche Scientifique, Paris.Dominique Lévy is a Director of Research at the Centre National de la Recherche Scientifique, Paris.
not me said Notes for a Neo-Marxist History of Neo-Liberalism. The thesis of "Capital Resurgent" is more or less the following: Capitalism was gripped by a crisis of falling profits in the 1970s. "Finance" (a term used on every page of the book but not defined until the last chapter) seized this opportunity to assault labor and force down wages. Profits were thus restored, but the hegemony of finance meant that money was drained from the non-financial sector of the economy in the form of high interest rates and large dividend payments. The result: high corporate profits, stagnant wages, and low rates of capital formation. Information technology might yet come to capitalism's rescue -- unless the wo
This remarkable book offers a closely argued and persuasive interpretation of the political economy of Europe and the U.S. The interpretation of contemporary political economy offers fresh and challenging perspectives to the ongoing debate about world economic policy. Foley, The New School for Social Research) . (Duncan K. from 1970 to the present, based on a much wider discussion ranging in time from the late 19th century, and touching on the history of the industrializing countries of Asia and Latin America
In the three decades following World War II, now considered a golden age of capitalism, economic growth was high and income inequality decreasing. The advent of economic neoliberalism in the 1980s triggered a shift in the world economy. Economists Gérard Duménil and Dominique Lévy show that, despite free market platitudes, neoliberalism was a planned effort by financial interests against the postwar Keynesian compromise. Interest rates as well as dividend flows rose, and income inequality widened. But in the mid-1970s this social compact was broken as the world economy entered the stagflation crisis, following a decline in the profitability of capital. This crisis opened a new phase of stagnating growth and wages, and unemployment. In the late nineteenth century, when economic conditions were similar to those of the 1970s, a structural crisis led to the first financial hegemony culminating in the speculative boom of the late 1920s. The authors argue persuasively for stabilizing the world economy before we run headlong into another economic disaster.. The cluster of neoliberal policies--including privatization, liberalization of world trade, and reduction in state welfare benefits--is an expression of the power of finance in the world economy.The sequence of events initiated by neoliberalism