This Palgrave Pivot uses Marxian economic categories and analysis to explore the deeper causes of the 2008 global economic crisis, what the crisis represents for capitalism, and why fiscal and monetary policies pursued in its wake have failed to rejuvenate economies.

With an innovative interpretation of the crisis and a focus on 'toxic capital' a sub-division of Karl Marx's concept of fictitious capital Tombazos examines the specificities of economic reproduction under neoliberalism and financialisation.

Analyses the causes and consequences of the global financial crisis through Marxian economic categories Addresses the area of crisis theory and policy analysis related to the global financial crisis Highlights major changes in capitalism that presaged the crisis Sets out policy options remaining for governments

Autorentext
Stavros Tombazos is Associate Professor of Political Economy and German Political Philosophy at the Department of Social and Political Sciences, University of Cyprus, Cyprus. His research interests include social class and inequality, theories of the state, nationalism, racism, and immigration.

Inhalt

Chapter 1: Introduction.- Chapter 2: Profitability, Accumulation and Industrial Capital.- Chapter 3: Private Consumption, Wage Share of GDP and Reproduction Schemas.- Chapter 4: Money Capital, Fictitious Capital and Toxic Capital.- Chapter 5: Economic Policies and Economic Perspectives.- Chapter 6: Conclusion.