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Structural Polycrises of the 1970s–2020s: Decadal Crises, Debt Crises, GFC, Eurocrisis, Coronacrisis, and Climate Crisis

In: Long Waves of Growth, Hegemonic Power, and Climate Change in the World Economy

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  • Phillip Anthony O’Hara

    (Global Political Economy Research Unit (GPERU))

Abstract

This chapter outlines the ongoing and successive polycrises that have emerged from the demise of US (and Western) hegemony and long wave upswing vis-à-vis the deteriorating pathways and circuits of socioeconomic dynamics (CSD). As the hegemony, long wave upswing, and climate moderation underwent contradictory movements, and neoliberalism rose during the 1970s, 1980s, 1990s, and 2000s, polycrises got worse, and as neoliberalism went into relative decline during the 2010s, its vestiges helped to precipitate the health crises of the early 2020s. These ongoing polycrises include, for instance, the decadal financial crises and recessions, the global financial crisis (GFC), four waves of debt crises (including the Eurocrisis), the coronacrisis, and the climate crisis. These are the subjects of this chapter (the ongoing crisis associated with the Ukraine/Taiwan anomalies is investigated in Chap. 10). A conclusion follows.

Suggested Citation

  • Phillip Anthony O’Hara, 2025. "Structural Polycrises of the 1970s–2020s: Decadal Crises, Debt Crises, GFC, Eurocrisis, Coronacrisis, and Climate Crisis," Springer Books, in: Long Waves of Growth, Hegemonic Power, and Climate Change in the World Economy, chapter 0, pages 381-427, Springer.
    • Handle: RePEc:spr:sprchp:978-981-96-4132-1_9
    DOI: 10.1007/978-981-96-4132-1_9
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