Cited by 50Housing, Finance, and NeoliberalismPolitical Economy and MarxismEconomic Theory and Policy

The Present Crisis. A Trump for a Renewed Political Economy

Boyer, Robert·2013·Review of Political Economy

Abstract

The new classical macroeconomics and mathematical finance have both failed to anticipate the present crisis or explain why the present crisis is so severe. This is because they only considered pure market economies devoid of institutions and without concern for historical and structural transformations in contemporary economies. This opens the door to a political economy analysis of the transformations in socio-political alliances since the demise of the Fordist growth regime. The shift toward market-based financial systems, financial liberalization, and globalization, gave unprecedented power to international financiers and has led to the current economic and financial crisis. Controlling finance requires resolute action by public authorities and the pressure of citizen social movements. Financial re-regulation is closely related to the relative bargaining power of nation-states and international finance. International comparisons (e.g., North American and German capitalisms) suggest that this is a possible path.

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Crossref · 10.1080/09538259.2013.736262

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61 of 61 references verified0 citation errors · 0 not checkable

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  • The financial crisis has not just been a financial crisis but a systemic crisis created by the internal dynamics of the structure of contemporary capitalism.

    “As Marxists, regulation theorists and other political economists have continued to argue, the financial crisis has not just been a financial crisis but a systemic crisis created by the internal dynamics of the structure of contemporary capitalism (see e.g. Boyer 2013; but note Pivetti 2015).”

    From Species Being in the Twenty-First Century (2018) · cites this paper as Boyer 2013

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Authors
Boyer, R.
Corresponding author
Boyer, Robert
Venue
Review of Political Economy
Published
2013-01
Volume
25
Issue
1
Pages
1-38
ISSN
  • 0953-8259 (ISSN-L)
  • 1465-3982
OpenAlex
W2082104421
Cited by
50
References
64
Citations by year
2025: 3 · 2023: 2 · 2022: 4 · 2021: 4 · 2020: 3 · 2019: 2 · 2018: 5 · 2017: 8 · 2016: 6 · 2015: 6 · 2014: 5 · 2013: 2
FWCI
6.89
Type
journal article
Language
en
Open access
closed
Locations
  • Review of Political Economy (publishedVersion)
  • RePEc: Research Papers in Economics (submittedVersion)
Topics
  • Social Sciences › Economics, Econometrics and Finance › Finance › Housing, Finance, and Neoliberalism
  • Social Sciences › Sociology and Political Science › Political Economy and Marxism
  • Social Sciences › Economics, Econometrics and Finance › General Economics, Econometrics and Finance › Economic Theory and Policy
Keywords
financial crisis, political economy, Fordism, financial liberalization, globalization, financialization, financial regulation, new classical economics, financial mathematics, market economy, international finance, social movements, German capitalism

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