The crisis 2007-? and its origins

With the bursting of the property bubble and onset of the financial crisis, the world economy has entered the worst crisis since the Great Depression. What are the causes of the crisis? Merely inadequate financial regulation? What are its deeper structural causes? Is it a crisis of Neoliberalism? Of financialisation? Who will bear the costs of the crisis?

A selection of papers indicative of our ongoing work in the area:

  • Stockhammer, E (2011), Peripheral Europe's debt and German wages. International Journal of Public Policy forthcoming
  • Milios, J, and Sotiropoulos, D (2011), Imperialism, Financial Markets and Crisis, Athens: Nisos [in Greek]
  • Milios, J, and Sotiropoulos, D (2010), Crisis of Greece or crisis of Euro? A view from the European 'periphery', Journal of Balkan and Near Eastern Studies, 12(3): 223-240
  • Stockhammer, Engelbert (2010) Neoliberalism, Income Distribution and the Causes of the Crisis. In: P. Arestis, R. Sobreira, J. Oreiro (eds): The 2008 Financial Crisis, Financial Regulation and Global Impact. Volume 1 The Financial Crisis: Origins and Implications - working paper version RMF Discussion Paper 19
  • Mohun, S, The Crisis of 2008 in Historical Perspective, paper presented at the First IIPPE Conference, Rethymnon, Crete, September, 2010
  • Stockhammer, Engelbert (2009) The finance-dominated accumulation regime, income distribution and the present crisis. Papeles de Europa, 19, pp. 58-81. ISSN (online) 1989-5917
  • Mohun, S (2007), Review of Capital Resurgent: Roots of the Neoliberal Revolution, by Gerard Duménil and Dominique Lévy, Review of Political Economy, 19(1): 120-5
Photograph of a torn Euro banknote