Colin Hay argues that the crisis in which we are still mired is best seen as a crisis of growth and not as a crisis of debt. It is a crisis of and for an excessively liberalised form of capitalism and the Anglo-liberal growth model to which it gave rise

Rising public debt has been widespread in democratic-capitalist political economies since the 1970s, generally accompanied among other things by weak economic growth, rising unemployment, increasing inequality, growing tax resistance, and declining political participation. Following an initial...