The global economic crisis - Nacho Álvarez

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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

Reading materials