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Ukraine War: Policy Miscalculations or Contradictions of Capitalism?

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  • Ann E. Davis

Abstract

There are competing narratives regarding the causes of the war in Ukraine. One focuses on the provocation by the United States and the North Atlantic Treaty Organization, while others emphasize Russian aggression. The approach implemented below is to focus on the long-term contradictions of capitalism, including the formation of Communist states themselves in Russia in 1917 and China in 1949. The subsequent relation between capitalist industrial powers and the leading Communist powers has been an important factor in the post-World War II expansion of capitalism and its conflicts. The role of key ideological frameworks, such as the definition of money, is also a factor emphasized in this analysis. Such a wider lens may enable us to judge more accurately the potential for another “Great Transformation†or a Zeitenwende. JEL Classification: B51, E58, F33, N20

Suggested Citation

  • Ann E. Davis, 2023. "Ukraine War: Policy Miscalculations or Contradictions of Capitalism?," Review of Radical Political Economics, Union for Radical Political Economics, vol. 55(4), pages 557-567, December.
    • Handle: RePEc:sae:reorpe:v:55:y:2023:i:4:p:557-567
    DOI: 10.1177/04866134231188584
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    References listed on IDEAS

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    More about this item

    Keywords

    shadow banking; financialization; hegemony; exorbitant privilege; safe asset;
    All these keywords.

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • N20 - Economic History - - Financial Markets and Institutions - - - General, International, or Comparative

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