United in Debt: Towards a Global Crisis of Debt-Driven Finance?

Science and Society 69 (3):396 - 419 (2005)

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)
Edit this record
Mark as duplicate
Export citation
Find it on Scholar
Request removal from index
Revision history

Download options

Our Archive

Upload a copy of this paper     Check publisher's policy     Papers currently archived: 47,299
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.

Add more references

Citations of this work BETA

No citations found.

Add more citations

Similar books and articles

The Corporate Psychopaths Theory of the Global Financial Crisis.Clive R. Boddy - 2011 - Journal of Business Ethics 102 (2):255-259.
On the Concept of Climate Debt: Its Moral and Political Value.Jonathan Pickering & Christian Barry - 2012 - Critical Review of International Social and Political Philosophy 15 (5):667-685.


Added to PP index

Total views
9 ( #830,428 of 2,290,995 )

Recent downloads (6 months)
1 ( #833,703 of 2,290,995 )

How can I increase my downloads?


My notes

Sign in to use this feature