EconPapers    
Economics at your fingertips  
 

Structural Contradictions of the Global Neoliberal Regime

James Crotty

Review of Radical Political Economics, 2000, vol. 32, issue 3, 361-368

Abstract: The paper argues that global Neoliberalism creates both chronic sluggish aggregate demand growth and chronic excess aggregate supply, and that these tendencies reinforce one another in a vicious circle. Stagnant global demand has unleashed destructive competition in core global markets, creating low profits, financial fragility, and over investment. Over investment generates the excess industry supply that sustains competitive intensity. The greater the competitive intensity, the greater the pressure on firms to cut wages and employment, and lobby for less generous social welfare spending, which further constrains aggregate demand. And so on.

Keywords: Neoliberalism; Globalization; Global growth (search for similar items in EconPapers)
Date: 2000
References: Add references at CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed

Downloads: (external link)
http://rrp.sagepub.com/content/32/3/361.abstract (text/html)

Related works:
Working Paper: Structural Contradictions of the Global Neoliberal Regime (2000) Downloads
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sae:reorpe:v:32:y:2000:i:3:p:361-368

Access Statistics for this article

More articles in Review of Radical Political Economics from Union for Radical Political Economics
Bibliographic data for series maintained by SAGE Publications ().

 
Page updated 2019-10-22
Handle: RePEc:sae:reorpe:v:32:y:2000:i:3:p:361-368