Crisis: Possibility or Necessity? The Heterodox Economy and the Great Recession

Abstract:

This article analyzes the explanations of the actual economic crisis carried by authors of different heterodox currents of thought, such as [neo[Marxist, post Keynesian and radical and (neo) Marxist. The purpose is to clarify, within the heterodox analysis, the existence of a theory of possibility or necessity for the crisis, since it constitutes an important element of the character and reach of the economic theory of the capitalist dynamic. For that, it characterizes a group of explanations from the role of finance, the income distribution (and the demand), the economic policy (neoliberal), the (over)production and the profit rate evolution. It concludes that, despite exceptions, the heterodox currents support the conception of the crisis as a mere possibility.

Año de publicación:

2013

Keywords:

• NEOLIBERALISM
• Theory of crisis
• profitability
• Heterodox; Finance
• Income distribution

Fuente:

scopus