UNIVERSITY of GLASGOW

Computing at Glasgow University
 
Paper ID: 9335

Credit Crunch Origins and Orientation
Cockshott,W.P. Zachariah,D.

Publication Type: Journal
Appeared in: Science and Socieyt
Page Numbers : 343-361
Publisher: N/A
Year: 2010
ISBN/ISSN: issn 0036-8237
Abstract:

The cyclical pattern of capitalism is periodically punctuated by severe crises that lead to restructuring of the political-economic system. In this article we argue that the underlying factor of the current crisis is a real economic imbalance caused by an unprecedented growth of the nancial sector. Moreover, we argue that a return to an expansive era of capital accumulation will become impossible in the advanced countries.

Keywords: credit, accumulation, profit


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