• Corpus ID: 153058641

The Crises of Democratic Capitalism

  title={The Crises of Democratic Capitalism},
  author={Wolfgang Streeck},
  journal={New Left Review},
The collapse of the American financial system that occurred in 2008 has since turned into an economic and political crisis of global dimensions. How should this world-shaking event be conceptualized? Mainstream economics has tended to conceive society as governed by a general tendency toward equilibrium, where crises and change are no more than temporary deviations from the steady state of a normally well-integrated system. A sociologist, however, is under no such compunction. Rather than… 

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