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La crisi, le sue origini e il prossimo futuro
[The crisis, its origins, and the next future]

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  • Russo, Alberto

Abstract

We briefly describe the evolution of the global process of capitalist accumulation during the neoliberal decades, to stress the “real causes” of the current crisis. This analysis leads to the search for a radical alternative to “austerity”, that is the economic policy approach tied to an interpretation of the crisis due to problems of “financial nature”. In our view, the political alternative to the neoliberal management of the crisis should be based on a large extension of education in the context of a “green” and “egalitarian” process of economic development. This requires a significant involvement of the public sector (in collaboration with private capitals) in providing the bases for economic growth, and a political support to an appropriate taxation of wealth (by now highly concentrated in a very small fraction of the population).

Suggested Citation

  • Russo, Alberto, 2011. "La crisi, le sue origini e il prossimo futuro
    [The crisis, its origins, and the next future]
    ," MPRA Paper 34742, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:34742
    as

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    File URL: https://mpra.ub.uni-muenchen.de/34742/2/MPRA_paper_34742.pdf
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    References listed on IDEAS

    as
    1. Russo, Alberto, 2010. "Elementi di novità, meccanismi noti e cause di fondo della recente crisi
      [Elements of novelty, known mechanisms, and fundamental causes of the recent crisis]
      ," MPRA Paper 21648, University Library of Munich, Germany.
    2. Bowles, Samuel & Edwards, Richard & Roosevelt, Frank, 2005. "Understanding Capitalism: Competition, Command, and Change," OUP Catalogue, Oxford University Press, edition 3, number 9780195138658.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    capitalist accumulation; neoliberal crisis; political change; public sector; education; wealth taxation;

    JEL classification:

    • P17 - Economic Systems - - Capitalist Systems - - - Performance and Prospects
    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • G01 - Financial Economics - - General - - - Financial Crises

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