Κρίση, Σύγχρονος Καπιταλισμός και Ταξικές Ανακατατάξεις

Economic Crisis, Modern Capitalism and Class Realliances

Lefteris Tsoulfidis ()

MPRA Paper from University Library of Munich, Germany

Abstract: The economic crisis that inflicted Greece is international in character and its cause is in the decreasing profitability of capital which from a certain point onwards leads to the stagnation of profits, discourages new investment, reduces production and increases unemployment. If these are combined with the large public debt and the austerity economic policies that were pursued before and after the advent of the Troika, we may explain the vehemence with which the crisis affected the Greek economy. The crisis may also lead to new class realliances and furthermore show the direction and the requirements for the contemplation of an alternative economic policy.

Keywords: falling rate of profit; investment function; unemployment rate; crisis; debt; Greek economy (search for similar items in EconPapers)
JEL-codes: B50 B51 E11 E12 E32 E4 O50 (search for similar items in EconPapers)
Date: 2014, Revised 2015
New Economics Papers: this item is included in nep-hme and nep-mac
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:62692

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