The 2007 Financial Crisis : Facts, Causes and Future Scenarios (La Crisi 2007-?: Fatti, Ragioni E Possibili Conseguenze)

This paper provides an interpretation of the current financial crisis reviewing a broad and expanding literature. The different causes of the crisis are pointed out and the severity of the ongoing recession is compared with past experiences. The intensity and the global scale of the crisis are disclosing some weaknesses of the capitalist economy. The crisis has roots in some failures of the market economy, but also in other structural transformation of our society with are less related with economics and more with cultural factors