United in Debt: Towards a Global Crisis of Debt-Driven Finance?
Science and Society 69 (3):396 - 419 (2005)
| Abstract | Over the past two decades, the collapse of the financial systems in many developing nations, the bankruptcies in the Anglo-Saxon corporate sectors and a threat of more sovereign defaults on behalf of emerging markets suggest that the current wave of global financial fragility and recession rivals that of the Great Depression of the 1930s. Among elements that account for the crisis-prone nature of global capitalism are the political discipline of neoliberalism; debt-driven expansion of the privatized financial markets; and the profound disarticulation of the financial and real economies. Contrary to mainstream readings of financial crises, today's financial upheavals are rooted in the debtladen regime of neoliberal finance. Today's debt-driven capitalism is both unstable and limited in its developmental possibilities. Nevertheless, a paradigmatic shift in the transnational political consensus can prevent a global repetition of the 1930s. | |||||||||
| Keywords | No keywords specified (fix it) | |||||||||
| Categories | No categories specified (fix it) | |||||||||
| Options |
|
|||||||||
Download options| PhilPapers Archive |
Upload a copy of this paper Check publisher's policy on self-archival Papers currently archived: 5,672 |
| External links |
 |
| Through your library | Configure |
Similar books and articlesRoger Berkowitz & Taun N. Toay (eds.) (2013). The Intellectual Origins of the Global Financial Crisis. Fordham University Press.
Clive R. Boddy (2011). The Corporate Psychopaths Theory of the Global Financial Crisis. Journal of Business Ethics 102 (2):255-259.
G. Rossouw (2012). Global Business Ethical Perspectives on Capitalism, Finance and Corporate Responsibility: The Impact of the Global Financial Crisis of 2008. Asian Journal of Business Ethics 1 (1):63-72.
Alison M. Jaggar (2002). A Feminist Critique of the Alleged Southern Debt. Hypatia 17 (4):119-142.
Christian Barry & Matthew Peterson (2010). Dealing Fairly with the Costs to the Poor of the Global Financial Crisis. In Iain MacNeil & Justin O'Brien (eds.), The Future of Financial Regulation. Hart.
Ned Dobos, Christian Barry & Thomas Winfried Menko Pogge (eds.) (2011). Global Financial Crisis: The Ethical Issues. Palgrave Macmillan.
Christian Barry & Matt Peterson (2011). Who Should Pay for the Damage of the Global Financial Crisis? In Ned Dobos Christian Barry & Thomas Pogge (eds.), Global Financial Crisis:The Ethical Issues. Palgrave.
Joseph A. Petrick (2011). Sustainable Stakeholder Capitalism: A Moral Vision of Responsible Global Financial Risk Management. Journal of Business Ethics 99 (S1):93-109.
Kevin Dowd (2000). Are Free Markets the Cause of Financial Instability? Critical Review 14 (1):57-67.
Jonathan Pickering & Christian Barry (2012). On the Concept of Climate Debt: Its Moral and Political Value. Critical Review of International Social and Political Philosophy 15 (5):667-685.
Barry Eichengreen (2000). The Crisis of (Confidence in) Global Capitalism. Critical Review 14 (1):69-85.
Analytics
Monthly downloads |
Added to index2011-05-29Total downloads5 ( #160,284 of 549,065 )Recent downloads (6 months)0How can I increase my downloads? |
My notes
Discussion
