The global economic crisis – Nacho Alvarez
Plan of the lecture
- The neoliberal answer to the crisis since the 1980’s
- The extension of neoliberal measures: liberalization, privatization and external opening of economies.
- Main characteristics of the neoliberal period: financialization, stagnation and unemployment.
- Restoring profitability: the wage stagnation.
- The resurgence of financial capital
- Marxist analysis of the current crisis
- Profitability and evolution of the rate of profit
- Financialization and accumulation of fictitious capital: the crisis of neoliberalism
- The Euro crisis: a storm in the center of the world economy
- The crisis in Latin America and Asia
- The responses of the elites to the current crisis and possible alternatives
- The response in USA: the support to Wall Street and to financial capital
- Bailouts, austerity and Memorandums in the European Union: deepening social regression
- Alternative economic policy
- Husson, Michel and Louçã, Francisco (2012): “Late capitalism and neo-liberalism. A perspective on the current phase of the long wave of capitalist development”, January 2012.
- Moseley, Fred (2012): "The U.S. Economic Crisis: Profitability Crisis and Household Debt Crisis Combined”, URPE-Occupy Summer Conference, August 2012.
- Shaikh, Anwar (2012): “Causes and Consequences of the Current Global Economic Crisis”, URPE-Occupy Summer Conference, August 2012.
- Toussaint, Eric (2011): “In the eye of the storm: the debt crisis in the European Union”, CADTM, September 2011.
- Toussaint, Eric (2011): “New Debt Crisis in Third World?”, International Viewpoint, 31, October, 2011.