Authors: Paul Mason
Addresses: BBC Newsnight, Television Centre, Wood Lane, W12 7RJ, London, UK
Abstract: This paper argues that the global economic crisis needs to be seen as an attempt to return to stability after the great disruption of the decade before the 2008 crunch. It suggests that the strain of stopping a 1930s style slump has created systemic tensions in the global system that remain unresolved. These tensions can be seen in interstate relations but also within states as austerity programmes are developed. The long term choice involved in recovery is between rethinking the nature of the global economic and financial architecture and some type of competitive solution to the crisis. Both of these have unpredictable outcomes.
Keywords: global economic crisis; credit crunch; financialisation; the great disruption; instability; economic recovery; financial crisis; interstate relations; austerity programmes.
International Journal of Management Concepts and Philosophy, 2012 Vol.6 No.3, pp.127 - 134
Published online: 17 Apr 2015 *Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article