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Global Capitalism in DisarrayInequality, Debt, and Austerity$
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Andres Solimano

Print publication date: 2016

Print ISBN-13: 9780190626273

Published to Oxford Scholarship Online: November 2016

DOI: 10.1093/acprof:oso/9780190626273.001.0001

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(p.217) 10 Epilogue
Global Capitalism in Disarray

Andres Solimano

Oxford University Press

This chapters summarizes main findings of the book and warns of multiple economic, social, and political crises (stagnant economy, rising inequality, and captive democracy) affecting global capitalism. It debunks the story that central banks successfully managed the crisis of 2008–09, shows the ongoing problems ensuing from externally imposed austerity even as the central banks choose injections of liquidity over proven Keynesian methods of economic stimulus, and discusses the urgent need for new policy priorities oriented toward greater equality, stability and economic democracy, with the goal of dispelling the mirage of four decades of neoliberal faith in unregulated markets and the profit motive. The book warns that continued stagnation, rising inequality, and high indebtedness are the main destabilizing features of 21st century capitalism.

Keywords:   social contract, equality, democracy, policy priorities, economic democracy

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