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A Theory of Crises

In: Political Economy of Capitalisms

Author

Listed:
  • Robert Boyer

    (EHESS, Ecole des Hautes Etudes en Sciences Sociale et Institut des Amériquesstitut des Amériques)

Abstract

The very success and maturing of an accumulation regime set into motion destabilizing mechanisms that end in crises of unequal severity: mere downturn within an industrial business cycle, failing regulation mode or structural incompatibility of institutional forms unable to launch a new accumulation wave. This endometabolism can be formalized but other forces can also destabilize an economy such as the tendency of accumulation to transcend national political boundaries or the domination of financial capital over productive capital. Thus, crises have not been eliminated by modern economic policies, they are recurring but are constantly changing forms. This is a key teaching derived from regulation theory.

Suggested Citation

  • Robert Boyer, 2022. "A Theory of Crises," Springer Books, in: Political Economy of Capitalisms, chapter 0, pages 81-108, Springer.
  • Handle: RePEc:spr:sprchp:978-981-19-3536-7_5
    DOI: 10.1007/978-981-19-3536-7_5
    as

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