TITLE

The Great Financial Crisis -- Three Years On

AUTHOR(S)
FOSTER, JOHN BELLAMY; MAGDOFF, FRED
PUB. DATE
October 2010
SOURCE
Monthly Review: An Independent Socialist Magazine;Oct2010, Vol. 62 Issue 5, p52
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article discusses the global financial crisis that began in 2007. Though widely blamed on the subprime mortgage crisis in the United States, the recession is instead seen as the result of long-term structural factors in world capitalism, including declining economic growth rates, rising levels of debt, and neoliberal economic policy. Keynesian proposals to increase government spending are seen as inadequate to address the problem over the long term, and the replacement of capitalism with a system geared toward sustainable human development is advocated instead.
ACCESSION #
54092125

 

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