- Record: found
- Abstract: found
- Article: found
OVER-ACCUMULATION AS THE MAIN SOURCE OF CAPITALIST CRISES
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
References
Altvater, Elmar (2005) Das Ende des Kapitalismus, wie wir ihn kennen. Münster: Verlag Westfälisches Dampfboot.
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.
Huffschmid, Jörg (2008) "The Impact of Finance on the European Social Models." Paper for the Transform Conference in Stockholm, June 13/14.