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Late Neoliberalism And The Global Financial Crisis

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  • Atanas Leonidov

Abstract

The analysis is based on the introduction of the notion of "late neoliberalism" as contrasted with the practice established in the literature to unequivocally use the concept "neoliberalism". There are given arguments in favour of the differentiated approach chosen by us. The content of the ideology of late neoliberalism is connected with the changes that have taken place since the end of the 1970s in the structure of Anglo-Saxon capitalism, as well as those in the economic and social policy of the USA and Great Britain under Thatcherism and Reaganomics. There is emphasized the central place of the Efficient Market Hypothesis (EMH) and is revealed its untenability against the background of the global financial crisis.

Suggested Citation

  • Atanas Leonidov, 2015. "Late Neoliberalism And The Global Financial Crisis," Business & Management Compass, University of Economics Varna, issue 4, pages 5-16.
    • Handle: RePEc:vrn:journl:y:2015:i:4:p:5-16
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    More about this item

    Keywords

    late neoliberalism; market fundamentalism; efficient market hypothesis (EMN); global financial crisis;
    All these keywords.

    JEL classification:

    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General

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