The Revenge of the Capitalist Class: Crisis, the Legitimacy of Capitalism and the Restoration of Finance from the 1970s to Present

@article{Volscho2017TheRO,
  title={The Revenge of the Capitalist Class: Crisis, the Legitimacy of Capitalism and the Restoration of Finance from the 1970s to Present},
  author={Thomas W. Volscho},
  journal={Critical Sociology},
  year={2017},
  volume={43},
  pages={249 - 266}
}
  • Thomas W. Volscho
  • Published 2017
  • Critical Sociology
  • In the 1970s, US capitalism suffered a legitimacy crisis as the economy was mired in high inflation, unemployment, and slower growth. The rate of profit had been decreasing since the late 1960s and by the mid-1970s Wall Street was in poor shape. Capitalists politically mobilized in the 1970s to restore the rate of profit and to restore power to economic elites. In this article, I examine changes to the American economic system with special focus on the perspectives of capitalist elites. While… CONTINUE READING

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