Is Over-investment the Cause of the Post-2007 U.S. Economic Crisis?1

Erdogan Bakir and Al Campbell

Review of Radical Political Economics, 2015, vol. 47, issue 4, 550-557

Abstract: A significant number of left political economists hold that the U.S. Great Recession and subsequent lethargic performance are a crisis of over-capacity that resulted from over-investment. Kotz (2011, 2013) has recently attempted to provide empirical support for this position. Despite sharing an understanding of the crisis very similar to his, the authors find in this paper that a careful examination of his evidence does not support considering this to be a crisis of over-investment.

Keywords: over-investment; Marxian crisis theory; neoliberalism; Great Recession; business cycle (search for similar items in EconPapers)
JEL-codes: B50 E22 E32 (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:sae:reorpe:v:47:y:2015:i:4:p:550-557

DOI: 10.1177/0486613415584575

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