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On the nature of the present world economic crisis. A non-neoliberal sketch

Author

Listed:
  • Peter Farkas

    (Institute of World Economics, Centre for Economic and Regional Studies, Hungarian Academy of Sciences)

Abstract

The author wrote this paper in 2009, after the outbreak of the crisis. The paper, in the first place, was made for the young economist generation about the non-liberal crisis interpretation. The main thoughts are also topical at present, in the middle of 2011, when perhaps a new wave of the crisis might have started, for world economic tensions, which the paper introduces, survived in essence as the consequence of bank-saving and money-producing policies. At first, the paper enumerates the crisis explanations from Sismondi through Marx to Krugman and Roubini the economists of our present days. It shortly mentions previous typical world economic crises and lists their changing features, outlines the stages of economic cycles, and touches upon the existence of the greater crises that change the functioning of capitalism, the so-called node crises.

Suggested Citation

  • Peter Farkas, 2011. "On the nature of the present world economic crisis. A non-neoliberal sketch," IWE Working Papers 198, Institute for World Economics - Centre for Economic and Regional Studies.
  • Handle: RePEc:iwe:workpr:198
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    File URL: https://vgi.krtk.hu/publikacio/no-198-2011-08/
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    References listed on IDEAS

    as
    1. World Bank, 2012. "World Development Indicators 2012," World Bank Publications - Books, The World Bank Group, number 6014.
    2. World Bank, 2009. "World Development Indicators 2009," World Bank Publications - Books, The World Bank Group, number 4367.
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    Keywords

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    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • P43 - Political Economy and Comparative Economic Systems - - Other Economic Systems - - - Finance; Public Finance

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