CAPITAL ACCUMULATION AND FAMILY ECONOMIC DETERIORATION: HISTORICAL CONTINGENCIES AND THE &quot;GREAT RECESSION&quot; OF THE UNITED STATES

Gillespie, Michael D.

doi:10.2307/41931934

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World Review of Political Economy

Volume 2, Issue 3

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CAPITAL ACCUMULATION AND FAMILY ECONOMIC DETERIORATION: HISTORICAL CONTINGENCIES AND THE "GREAT RECESSION" OF THE UNITED STATES

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Author(s): Michael D. Gillespie

Publication date (Print): 1 October 2011

Journal: World Review of Political Economy

Publisher: Pluto Journals

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Abstract

The "Great Recession" in the United States exposed contradictions between the economic wellbeing of families and capital. Using social structure of accumulation theory, a qualitative institutional analysis and quantitative time-series models, I investigate historicallycontingent relations between family economic deterioration and capital accumulation. The circuit of capital, I argue, necessitates increasing private consumption expenditures by families, however with minimal governmental support. Therefore, the economic deterioration of the family expands under unprecedented levels of debt.

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Journal

Journal ID (jstor): worlrevipoliecon

Journal ID (doi): 10.2307/j50005553

Title: World Review of Political Economy

Publisher: Pluto Journals

ISSN (Print): 2042891X

Publication date (Print): 1 October 2011

Volume: 2

Issue: 3

Pages: 406-440

Article

DOI: 10.2307/41931934

SO-VID: 6bd86e40-0dea-4f19-aa01-c222c5db3797

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ScienceOpen disciplines: Political economics

Notes

Agresti and Finlay 2008 Allison 1999 Belsley 1991
Goldberger 1991 Griffin 1992; Isaac and Griffin 1989

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[1] Agresti and Finlay 2008 Allison 1999 Belsley 1991

[2] Goldberger 1991 Griffin 1992; Isaac and Griffin 1989