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Transition Towards a New Phase? The crisis of 2007-2008 and its impact on current metamorphosis of capitalism

Leonardo Costa Ribeiro and Eduardo Albuquerque ()
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Leonardo Costa Ribeiro: Cedeplar-UFMG

No 516, Textos para Discussão Cedeplar-UFMG from Cedeplar, Universidade Federal de Minas Gerais

Abstract: This manuscript investigates how far has the post-crisis global economy navigated towards a new phase of capitalism. This question is underpinned by a conjecture: capitalism, as a dynamic and flexible economic system, has in their crises a key element for its long-term dynamics. The manuscript is organized in five sections. The first surveys the literature on the role of crises in metamorphoses of capitalism. The second section surveys the structural changes before the crises, the third section summarizes the rescue operation and movements in the epicentre of the crisis, and the fourth section asks whether or not structural reforms of capitalism are in the political agenda. The fifth section evaluates the stage of current transition towards a new phase of global capitalism.

Keywords: crisis; metamorphoses of capitalism; systemic turbulence (search for similar items in EconPapers)
JEL-codes: P16 P51 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-pke
Date: 2015-09
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