Neoliberalism, the Global Crisis, and the Ways Out

Grzegorz W. Kolodko ()
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Grzegorz W. Kolodko: TIGER - Kozminski University, Warsaw

Rivista di Politica Economica, 2011, issue 3, 153-166

Abstract: Due to the interdependence of the contemporary world economy, the great American crisis of 2008-2010 rapidly has become the global crisis. However, it is not just another, only larger than before crisis. It is a fundamental crisis of the capitalist market economy based on neoliberalism. Overcoming the resulting challenges calls not just for managing deep financial and structural imbalances, which were the direct causes of the recession, but requires deep changes in the underlying values, institutions and policies. These changes must be based on the coincidence theory of development and new pragmatism.

Keywords: world; globalization; development; transformation; crisis; recession; values; institutions; policie (search for similar items in EconPapers)
JEL-codes: A11 E6 F02 F43 H11 I38 N1 O17 (search for similar items in EconPapers)
Date: 2011
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Persistent link: https://EconPapers.repec.org/RePEc:rpo:ripoec:y:2011:i:3:p:153-166

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