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 (categorize this paper)
Options
 Save to my reading list
Follow the author(s)
My bibliography
Export citation
Find it on Scholar
Edit this record
Mark as duplicate
Revision history Request removal from index
 
Download options
PhilPapers Archive


Upload a copy of this paper     Check publisher's policy on self-archival     Papers currently archived: 11,404
External links
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
Through your library
References found in this work BETA

No references found.

Citations of this work BETA

No citations found.

Similar books and articles
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.
Analytics

Monthly downloads

Added to index

2011-05-29

Total downloads

7 ( #188,497 of 1,102,977 )

Recent downloads (6 months)

2 ( #183,254 of 1,102,977 )

How can I increase my downloads?

My notes
Sign in to use this feature


Discussion
Start a new thread
Order:
There  are no threads in this forum
Nothing in this forum yet.