The collapse of neoliberal capitalism: Causes and cures: A review article

Peter Kriesler and Nevile Jw

The Economic and Labour Relations Review, 2014, vol. 25, issue 3, 518-531

Abstract: These books, different in style and content but united in purpose and major conclusions, analyse events from 2007 to 2010 to ascertain why the economic disaster happened and what must be done to put the United States economy (on which both books focus) on a more secure footing, and prevent any recurrence of the extended crisis of those years. Both target the increasing influence of market liberalism over the last 30 years, and the institutions of capitalist economies which they have encouraged. Taylor focuses more on the regulation of the international financial sector, and Palley on labour market policy. They agree that both need to be addressed if the United States economy is to be restored to health. Both argue that growing income inequality in the US must be reversed before the US economy can significantly improve. Finally, they stress the interrelationship between political ideology and economic explanation, and argue that value free positive economics is a myth.

Keywords: Global financial crisis; income inequality; Keynesian economics; macroeconomic policy; neoliberalism (search for similar items in EconPapers)
JEL-codes: E24 E32 E60 (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:sae:ecolab:v:25:y:2014:i:3:p:518-531

DOI: 10.1177/1035304614548116

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