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La crisis económica actual: una visión desde la economía política
[The actual economic crisis: a vision from the political economy]

Author

Listed:
  • Sergio, Reuben

Abstract

The paper criticizes the conception of value on behalf of the conventional economic theory, blaming it for the current economic school’s incapacity to explain the actual economic crisis and to offer an adequate perspective to settle a solution. It proposes an explanation based on the tendency to concentration and centralization of capital’s accumulation and its effects on income distribution, which conforms inadequate and unbalanced structures of production and distribution, withdrawn from the appropri-ate and thorough use of scarce common resources. In the middle, long term, these structures determine ruptures in the process of accumulation of capital triggering crisis like the actual. The theory of regulation is used in this paper, in order to explain the growth of concentration and centralization of capital and of social gap during the last years, which is understood as the result of the crisis of Fordist regime of accumu-lation and of the surge of a new transnational regime.

Suggested Citation

  • Sergio, Reuben, 2009. "La crisis económica actual: una visión desde la economía política [The actual economic crisis: a vision from the political economy]," MPRA Paper 15048, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:15048
    as

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    File URL: https://mpra.ub.uni-muenchen.de/38484/1/MPRA_paper_38484.pdf
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    References listed on IDEAS

    as
    1. Ian Dew-Becker & Robert J. Gordon, 2005. "Where Did Productivity Growth Go? Inflation Dynamics and the Distribution of Income," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 36(2), pages 67-150.
    2. Reuben Soto, Sergio, 2004. "La sociedad civil, el bienestar social y las transformaciones del Estado en Costa Rica [Civil society, welfare and transformations in the Costa Rican State]," MPRA Paper 8567, University Library of Munich, Germany.
    3. P. Kennedy, 1998. "Coming to Terms with Contemporary Capitalism: Beyond the Idealism of Globalisation and Capitalist Ascendancy Arguments," Sociological Research Online, , vol. 3(2), pages 49-63, June.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Economic crisis; Financial crisis; Regulation theory; Regime of accumulation; Economic development; Social inequality; Economic theory; Political Economy; De-velopment theory; Economic equilibrium;
    All these keywords.

    JEL classification:

    • P0 - Political Economy and Comparative Economic Systems - - General
    • D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • D33 - Microeconomics - - Distribution - - - Factor Income Distribution
    • O17 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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