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Globalised finance-dominated accumulation regime and sustainable development

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  • Claude Serfati

Abstract

Ecological, economic and social issues are tightly interwoven and relate to a specific mode of production and social relations. Hence, we use the term "sustainable development" in a very broad sense, aimed at questioning how much and how far the dynamics of end-of-century capitalism is compatible with social well-being and environmental preservation. The new finance-driven accumulation regime, which came to being in the l980s, was consolidated thanks to neo-liberal governmental policies that strove to reduce social expenditure, including health-care benefits, retirement pensions and unemployment benefits. Connected to depressive macroeconomic trends, this regime caught third-world countries, including newly industrialised countries, in a debt trap, and contributed to a worsening of the economic, social and ecological situation of most of non-OECD countries.

Suggested Citation

  • Claude Serfati, 2000. "Globalised finance-dominated accumulation regime and sustainable development," International Journal of Sustainable Development, Inderscience Enterprises Ltd, vol. 3(1), pages 40-62.
    • Handle: RePEc:ids:ijsusd:v:3:y:2000:i:1:p:40-62
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    Cited by:

    1. Xiaoguang Zhou & Yadi Cui, 2019. "Green Bonds, Corporate Performance, and Corporate Social Responsibility," Sustainability, MDPI, vol. 11(23), pages 1-27, December.
    2. Muhammad Alamgir & Ming-Chang Cheng, 2023. "Do Green Bonds Play a Role in Achieving Sustainability?," Sustainability, MDPI, vol. 15(13), pages 1-27, June.

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