Since 2014
The Current Crisis: A Socialist Perspective
Studies in Political Economy
View Archive Info| Field | Value | |
| Title |
The Current Crisis: A Socialist Perspective
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| Creator |
Panitch, Leo
Gindin, Sam |
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| Subject |
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| Description |
In the first of the forum articles, Leo Panitch and Sam Gindin argue that the state’s interventionist role in today’s financial crisis should “once and for all rid people of the illusion that capitalists don’t want their states involved in their markets.” The authors stress the active role of the US state in promoting financialization on a global scale, while, at the same time, acting as lender of last resort to try to contain financial volatility. They also locate one of the roots of the current crisis in the defeat of American labour and public expenditure cutbacks, which led so many people to be drawn into the credit markets that fuelled toxic asset-backed securities. Panitch and Gindin conclude by arguing “for the renewal of the kind of radical politics that advances a systemic alternative to capitalism. It would be a tragedy if a far more ambitious goal than making financial capital more prudent did not come back on the agenda.”
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| Publisher |
Studies in Political Economy
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| Contributor |
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| Date |
2009-05-25
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion — — |
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| Format |
application/pdf
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| Identifier |
http://spe.library.utoronto.ca/index.php/spe/article/view/6076
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| Source |
Studies in Political Economy; Vol 83 (2009): Finance and Democracy
1918-7033 0707-8552 |
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| Language |
eng
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| Relation |
http://spe.library.utoronto.ca/index.php/spe/article/view/6076/3067
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| Coverage |
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