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      OVER-ACCUMULATION AS THE MAIN SOURCE OF CAPITALIST CRISES

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      World Review of Political Economy
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            Abstract

            The purpose of this article is to present empirical data and a conceptual framework for the development of finance during the last three decades, to shed some light upon the main groups of financial investors as the central actors in finance-led capitalism and to show how their strategies affect economic and social stability; finally to make some remarks on alternatives and paths to overcome capitalist crisis. The main point is the reduction of financial over-accumulation. This requires more than stopping the greed of managers, forbidding hedge funds or controlling financial activities more strictly. Essential in the long run is the break with the capitalist system and the creation of a system of solidarity/democratic socialism.

            Content

            Author and article information

            Journal
            worlrevipoliecon
            10.2307/j50005553
            World Review of Political Economy
            Pluto Journals
            2042891X
            1 July 2010
            : 1
            : 2
            : 238-249
            Article
            10.2307/41942917
            7feb4ce2-18ea-4772-9afc-f9530df789de
            © WORLD ASSOCIATION FOR POLITICAL ECONOMY 2010

            All content is freely available without charge to users or their institutions. Users are allowed to read, download, copy, distribute, print, search, or link to the full texts of the articles in this journal without asking prior permission of the publisher or the author. Articles published in the journal are distributed under a http://creativecommons.org/licenses/by/4.0/.


            Political economics

            References

            1. Altvater, Elmar (2005) Das Ende des Kapitalismus, wie wir ihn kennen. Münster: Verlag Westfälisches Dampfboot.

            2. Brie, Michael (2009) "Five Theses for the Conference on Alternatives and Transformation Paths to Overcome the Regime of Crisis Capitalism." The World Crisis—and Beyond. Brussels, October 28-November 1.

            3. Huffschmid, Jörg (2008) "The Impact of Finance on the European Social Models." Paper for the Transform Conference in Stockholm, June 13/14.

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