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In this paper the euro crisis is viewed as the most recent episode of the crisis of financedominated capitalism … imbalances of current accounts, are analysed for a set of major Euro area countries. Against this background the euro crisis is … and will lead to deflationary stagnation and an increasing risk of disintegration of the Euro area. For this reason, an …
Persistent link: https://www.econbiz.de/10009572209
We analyse the long-run imbalances of finance-dominated capitalism underlying the present crisis - which began in 2007 - with a focus on developments in the US and Germany. We argue that beyond inefficient regulation of the financial sector, the severeness of the present crisis has been mainly...
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The financial and economic crisis in the Euro area has revealed a number of important flaws in the economic policy … euro, are not sustainable; and this is more serious in a period of crisis in particular. On the other hand, it has become … clear that the Euro area suffers from a serious lack of institutions and policy concepts, which will not allow coping with …
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The increasing dominance of finance starting in the late 1970s/early 1980s in the US and the UK, and somewhat later in other countries, was associated with two fundamental and structural processes generating the contradictions of this phase of development and finally the financial and economic...
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