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Literatur zur Politischen Ökonomie
Folgende Dokumente wurden in der Mehrwert & Co. Datenbank gefunden:
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1. Buchbeitrag
Dokument in die Merkliste Dokument in den Download-Korb
Shaikh (2010): First Great Depression
stabile URL:
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aus dem Mehrwert & Co. Archiv:
The First Great Depression of the 21th Century
The Crisis this Time
Ort: Verl.:
"The general econonlic crisis that was unleashed across the world in 2008 is a Great Depression. It was triggered by a financial crisis in the US, but that was not its cause. This crisis is an absolutely normal phase of a longstanding recurrent pattern of capitalist accumulation in which long booms eventually give way to long downturns. When this transition occurs, the health of the economy goes from good to bad. In the latter phase a shock can trigger a crisis, just as the collapse of the subprime mortgage market did in 2007, and just as previous shocks triggered general crises in the 1820s, 1870s, 1930s and 1970s. In his justly famous book, The Great Crash 1929, John Kenneth Galbraith points out that while the Great Depression of the 1930s was preceded by rampant financial speculation, it was the fundamentally unsound and fragile state of the economy in 1929 which allowed the stock market crash to trigger an economic collapse. As it was then, so it is now. Those who choose to see each such episode as a singular event, as the random appearance of a 'black swan' in a hitherto pristine flock, have forgotten the dynamics of the history they seek to explain. And in the process they also conveniently forget that it is the very logic of profit which condemns us to repeat this history."
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