World Turned Upside Down? Rise of the global South and the contemporary global financial turbulence
@article{Palat2010WorldTU, title={World Turned Upside Down? Rise of the global South and the contemporary global financial turbulence}, author={Ravi Arvind Palat}, journal={Third World Quarterly}, year={2010}, volume={31}, pages={365 - 384} }
Abstract By focusing on the consequences of the dismantling of regulations over the financial sector, the current debate on the causes of the global economic meltdown obscures the cyclical occurrence of speculation in capitalism, as the accumulation of more capital than can be profitably invested in the production and sale of commodities results in financial expansion. Historically financial expansion has signalled the end of one world-scale system of accumulation and the transition to a new…
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