Monopoly-Finance Capital and the Paradox of Accumulation
Bibliographic Data
| ID | 22744591 |
|---|---|
| Authors | John Bellamy Foster (0000-0001-7418-3004), Robert W Mcchesney |
| Year | 2009 |
| Volume | 61 |
| Issue | 5 |
| Pages | 1 |
| Publication date | 2009-10-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Monthly Review (JOURNAL) |
| Journal identifiers | ISSN: 0027-0520 • E-ISSN: 0027-0520 |
| Publisher | Monthly Review Foundation (PUBLISHER) |
| DOI | 10.14452/mr-061-05-2009-09_1 |
| OpenAlex | W4236054630 |
| Language | EN |
| Citations received | 9 |
This month marks the eightieth anniversary of the 1929 Stock Market Crash that precipitated the Great Depression of the 1930s. Ironically, this comes at the very moment that the capitalist system is celebrating having narrowly escaped falling into a similar abyss. The financial crash and the decline in output a year ago, following the collapse of Lehman Brothers, was as steep as at the beginning of the Great Depression. "For a while," Paul Krugman wrote in the New York Times in August, "key economic indicators — world trade, world industrial production, even stock prices—were falling as fast or faster than they did in 1929-30. But in the 1930s the trend lines kept heading down. This time, the plunge appears to be ending after just one terrible year." Big government, through the federal bailout and stimulus, as well as the shock-absorber effects of the continued payouts of unemployment and Social Security benefits, Medicare, etc., slowed the descent and helped the economy to level off, albeit at a point well below previous output.This article can also be found at the Monthly Review website, where most recent articles are published in full.Click here to purchase a PDF version of this article at the Monthly Review website.
Bailout · Capitalism · Crash · Economic history · Economics · Falling (accident) · Financial crisis · Great Depression · Keynesian economics · Macroeconomics · Market economy · Monopoly · Political economy · Political science · Politics · Stimulus (psychology) · Stock (firearms) · Stock market · Stock market crash · Unemployment · Economic Theory and Policy · History · Housing, Finance, and Neoliberalism · Law · Political Economy and Marxism
Banking Nature? The Spectacular Financialisation of Environmental Conservation
Is Under-Consumption Responsible for Persistent Stagnation in the US Manufacturing Sector? Econometric Evidence and Implications for State Policy, 1965–2008
Why Pirates Are Back
The financialization of capitalism
What is Financialisation? Examining the Role of Economic Methodology as Source of Theoretical and Policy Divergences
US Fiscal Policy, Manufacturing Stagnation, and the Shift to Financialization in the Era of Globalization
The Limits of Minsky's Financial Instability Hypothesis as an Explanation of the Crisis
Deadly contradictions
Struggling beyond the paradigm of Neoliberalism
| Unique citing works | 9 |
|---|---|
| Citations per year | 0,56 |
| Citation span | 2010 - 2025 (16) |
| Citation velocity | recent |
| Highly cited | No |
| Citation types | Neutral: 8 |