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Keynesian Revolution and neo-liberal Counter-revolution

By IIRE Fellow Eric Toussaint

 

As a result of the depression of the 1920s and 1930s, a new wave of critics tackled the neo-classical creed on a largely pragmatic basis. This new wave was international and involved political leaders and economists from differing belonging to various currents backgrounds: enlightened bourgeois thinkers, socialists and Marxists. In a context of mass unemployment and depression, proposals came forward for major public works, for anti-cyclical injections of public money, and even for bank expropriations.

 

"The Solution to the Crisis of Capitalism Has to Be Political"

IIRE fellow Claudio Katz interviewed by Fernando Arellano Ortiz

The exit from the systemic crisis of capitalism needs to be political, and "a socialist project can mature in this turbulence."  So says the Argentine economist, philosopher, and sociologist Claudio Katz, who also warns that the "global economic situation is very serious and is going to have to hit bottom, and now we are but in the first moment of crisis."

27th of may: Crisis in Europe: an anticapitalist perspective

The current economic crisis shows once again that economical and political developments don't end at national borders. Some politicians draw the conclusion that the European Union should play a greater role in handling crises like this one. However, according to critics the EU itself is part of the problem because it propagates the same kind of neoliberal policies that were a factor in causing this crisis. What would a left-wing, Europe-wide approach to the crisis look like?
© IIRE 2019

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