The crisis in the European Monetary Union cannot be attributed simply to the growth of government deficits in its member countries. Current account imbalances between eurozone members and the resulting accumulation of external private and public credit and debt appear to be further causes of...

This paper presents a general overview of the structural transformations marking the "new capitalism" and analyzes the contradictions of European neomercantilism within the Great Recession. In the past two decades, neoliberalism turned into a paradoxical sort of privatized financial Keynesianism...

This issue tries to answer two questions. Is the Marxian theory of crises, in its original formulation, useful to understanding the current crisis? Can the current crisis help us rethink Marx's theory of crises? The most widespread readings of Marx's theory of crises are the "tendency toward a...