A Theory of Crises

Robert Boyer ()
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Robert Boyer: EHESS, Ecole des Hautes Etudes en Sciences Sociale et Institut des Amériquesstitut des Amériques

Chapter Chapter 5 in Political Economy of Capitalisms, 2022, pp 81-108 from Springer

Abstract: Abstract The very success and maturing of an accumulation regime set into motion destabilizing mechanisms that end in crises of unequal severity: mere downturn within an industrial business cycle, failing regulation mode or structural incompatibility of institutional forms unable to launch a new accumulation wave. This endometabolism can be formalized but other forces can also destabilize an economy such as the tendency of accumulation to transcend national political boundaries or the domination of financial capital over productive capital. Thus, crises have not been eliminated by modern economic policies, they are recurring but are constantly changing forms. This is a key teaching derived from regulation theory.

Keywords: Form of crisis; History of crisis; Cyclical crisis; Structural crisis; Endometabolism; Finance-led crisis (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/978-981-19-3536-7_5

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