THE HISTORICAL SETTING AND ORIGINAL TRAITS OF THE WORLD CRISIS

The most dramatic and most publicized episodes of the world crisis have been financial: the subprime mortgage market collapse in 2007, the failure of Lehmann Brothers in September 2008 and more recently the Eurozone banking and sovereign debt crisis. They have of course each time had their own impac...

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Autor principal:	François Chesnais
Formato:	article
Lenguaje:	EN ES FR PT
Publicado:	Universidade Federal do Maranhão 2014
Materias:	world crisis bourgeoisie capital Political science J Political institutions and public administration (General) JF20-2112
Acceso en línea:	https://doaj.org/article/7fb8aca30a144d25ae9d4361a1df954e
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id	oai:doaj.org-article:7fb8aca30a144d25ae9d4361a1df954e
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spelling	oai:doaj.org-article:7fb8aca30a144d25ae9d4361a1df954e2021-11-11T15:50:44ZTHE HISTORICAL SETTING AND ORIGINAL TRAITS OF THE WORLD CRISIS2178-2865https://doaj.org/article/7fb8aca30a144d25ae9d4361a1df954e2014-01-01T00:00:00Zhttp://www.redalyc.org/articulo.oa?id=321131273002https://doaj.org/toc/2178-2865The most dramatic and most publicized episodes of the world crisis have been financial: the subprime mortgage market collapse in 2007, the failure of Lehmann Brothers in September 2008 and more recently the Eurozone banking and sovereign debt crisis. They have of course each time had their own impact on production, trade and employment. But this does not make the crisis a “crisis of financialisation” or of “neoliberalism”, but of capitalism tout court at a given moment of its history. Its underlying causes are overproduction and over-accumulation at world level and an effective play of the tendency of the rate of profit to fall despite the recourse by capital to the offsetting factors. The length of the crisis, which is now named not a US ‘Great Recession” but a global slump (McNally, 2011), and the end of the phase where China and Brazil appeared to be decoupled from the world crisis are expressions of this.François ChesnaisUniversidade Federal do Maranhãoarticleworld crisisbourgeoisiecapitalPolitical scienceJPolitical institutions and public administration (General)JF20-2112ENESFRPTRevista de Políticas Públicas, Pp 23-32 (2014)
institution	DOAJ
collection	DOAJ
language	EN ES FR PT
topic	world crisis bourgeoisie capital Political science J Political institutions and public administration (General) JF20-2112
spellingShingle	world crisis bourgeoisie capital Political science J Political institutions and public administration (General) JF20-2112 François Chesnais THE HISTORICAL SETTING AND ORIGINAL TRAITS OF THE WORLD CRISIS
description	The most dramatic and most publicized episodes of the world crisis have been financial: the subprime mortgage market collapse in 2007, the failure of Lehmann Brothers in September 2008 and more recently the Eurozone banking and sovereign debt crisis. They have of course each time had their own impact on production, trade and employment. But this does not make the crisis a “crisis of financialisation” or of “neoliberalism”, but of capitalism tout court at a given moment of its history. Its underlying causes are overproduction and over-accumulation at world level and an effective play of the tendency of the rate of profit to fall despite the recourse by capital to the offsetting factors. The length of the crisis, which is now named not a US ‘Great Recession” but a global slump (McNally, 2011), and the end of the phase where China and Brazil appeared to be decoupled from the world crisis are expressions of this.
format	article
author	François Chesnais
author_facet	François Chesnais
author_sort	François Chesnais
title	THE HISTORICAL SETTING AND ORIGINAL TRAITS OF THE WORLD CRISIS
title_short	THE HISTORICAL SETTING AND ORIGINAL TRAITS OF THE WORLD CRISIS
title_full	THE HISTORICAL SETTING AND ORIGINAL TRAITS OF THE WORLD CRISIS
title_fullStr	THE HISTORICAL SETTING AND ORIGINAL TRAITS OF THE WORLD CRISIS
title_full_unstemmed	THE HISTORICAL SETTING AND ORIGINAL TRAITS OF THE WORLD CRISIS
title_sort	historical setting and original traits of the world crisis
publisher	Universidade Federal do Maranhão
publishDate	2014
url	https://doaj.org/article/7fb8aca30a144d25ae9d4361a1df954e
work_keys_str_mv	AT francoischesnais thehistoricalsettingandoriginaltraitsoftheworldcrisis AT francoischesnais historicalsettingandoriginaltraitsoftheworldcrisis
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THE HISTORICAL SETTING AND ORIGINAL TRAITS OF THE WORLD CRISIS

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