The Present Crisis. A Trump for a Renewed Political Economy

Robert Boyer

Review of Political Economy, 2013, vol. 25, issue 1, 1-38

Abstract: The new classical macroeconomics and mathematical finance have both failed to anticipate the present crisis or explain why the present crisis is so severe. This is because they only considered pure market economies devoid of institutions and without concern for historical and structural transformations in contemporary economies. This opens the door to a political economy analysis of the transformations in socio-political alliances since the demise of the Fordist growth regime. The shift toward market-based financial systems, financial liberalization, and globalization, gave unprecedented power to international financiers and has led to the current economic and financial crisis. Controlling finance requires resolute action by public authorities and the pressure of citizen social movements. Financial re-regulation is closely related to the relative bargaining power of nation-states and international finance. International comparisons (e.g., North American and German capitalisms) suggest that this is a possible path.

Date: 2013
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)

Downloads: (external link)
http://hdl.handle.net/10.1080/09538259.2013.736262 (text/html)
Access to full text is restricted to subscribers.

Related works:
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:taf:revpoe:v:25:y:2013:i:1:p:1-38

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/CRPE20

DOI: 10.1080/09538259.2013.736262

Access Statistics for this article

Review of Political Economy is currently edited by Steve Pressman and Louis-Philippe Rochon

More articles in Review of Political Economy from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().