Crises of capitalism in the twenty first century
Cyclical or permanent
Bibliographic Data
| ID | 20318588 |
|---|---|
| Authors | Mladen Lazić (0000-0003-1518-7990, University of Belgrade – Faculty of Philosophy, corresponding author) |
| Year | 2024 |
| Volume | 66 |
| Issue | 2 |
| Pages | 161-184 |
| Publication date | 2024-01-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Sociologija (JOURNAL) |
| Journal identifiers | ISSN: 0038-0318 • E-ISSN: 2406-0712 |
| Publisher | National Library of Serbia (PUBLISHER • RS) |
| DOI | 10.2298/soc2402161l |
| OpenAlex | W4400594002 |
| Language | EN |
| Citations received | 1 |
| References cited | 13 |
The cause of contemporary ?secular stagnation? of economic growth in developed capitalist countries is analyzed in this paper. A hypothesis is introduced that it signifies a transfer from cyclical to permanent economic crisis, opening the perspective of collapse of the system. It is demonstrated that the crisis is the consequence of the basic characteristic (and contradiction) of capitalism, and therefore cannot be removed within the ramifications of present social relations. The contradiction is the product of growing discrepancy between, on the one hand, the process of production of goods, services, and knowledge, which increasingly expounds (directly or indirectly) its social character and, on the other, the process of control/management of production, including rising accumulation of individual fortunes, which retain their private character. The widening hiatus constantly produces disturbances in chains of everyday economic reproduction, but also leads to more frequent eruptions of severe global crises which threaten the dominant socio-political and economic order. Efficient remedies for overcoming the crises do not exist, since the previously built mechanisms have been dismantled during the last decades themselves becoming the new/additional source of crisis
Capitalism · Contradiction · Economic stagnation · Economic system · Economics · Goods and services · Macroeconomics · Market economy · Political economy · Political science · Politics · Production (economics) · Reproduction · Law · World Systems and Global Transformations
| Citations per year | 1 |
|---|---|
| Citation span | 2025 - 2025 (1) |
| Highly cited | No |