The Current Crisis of US Neoliberal Capitalism and Prospects for a New “Social Structure of Accumulation”
Document Type
Article
Publication Date
6-1-2019
Abstract
Wage squeeze/profit squeeze crisis theories provide a powerful framework for the historical analysis of US capitalist crises and the alternating demand-side and supply-side social structures of accumulation (SSA). However, the current neoliberal SSA would seem to defy the logic of this model in its persistence in the face of a deep financial crisis and a failure to realize its espoused objectives. This paper reviews this theoretical model of economic crises, its relationship to and viability alongside the rise and establishment of neoliberalism, and some of the political and economic obstacles that would seem to prevent the construction of a new SSA that would address and correct the glaring deficiencies of neoliberal political economy. JEL Classification: P16, G01.
Publication Title
Review of Radical Political Economics
Volume
51
Issue
2
First Page
193
Last Page
210
Digital Object Identifier (DOI)
10.1177/0486613417736890
ISSN
04866134
E-ISSN
15528502
Citation Information
Jaffee, D. (2019) The Current Crisis of U.S. Neoliberal Capitalism and Prospects for a New "Social Structure of Accumulation." Review of Radical Political Economics, 51(2), 193-210.