Abstract

Since 2007, capitalism has been going through its greatest crisis since the 1930s or before. In 2008, the banking system was saved from meltdown (at least for the time being) only by extensive government intervention in the USA, Britain, and a number of other countries. Stock markets all over the world plummeted. Then the crisis spread to the ‘real’ economy. A long and deep recession followed. Only now are we perhaps beginning to see what may – or may not – be fragile signs of recovery. Capitalism, it is sometimes said, has been on the verge of collapse