The global financial crisis and a new capitalism?

Bresser-Pereira, Luiz Carlos

doi:10.2753/pke0160-3477320401

Cited by 35 publications

(9 citation statements)

References 16 publications

(5 reference statements)

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“…Its prevalence resides in the fact that "It is a crisis which is simultaneously individual, national and global" (Rudd, 2009, p. 20). Despite the common characteristics of all major downturns, the current crisis challenged economists themselves (e.g., Bresser-Pereira, 2010;Hadjimichalis, 2011), who failed to forecast it, and questioned the current macroeconomic models, which frequently use very unrealistic assumptions in their predictions. Kirman (2010) argued to drop the idea of a rational individual in favor of analyzing "economy as a complex adaptive system, and take the network structure that governs interaction into account" (p. 498).…”

mentioning

confidence: 99%

How Political Orientation and Vulnerability Shape Representations of the Economic Crisis in Greece and Italy

Mari¹,

Volpato²,

Παπαστάμου³

et al. 2017

International Review of Social Psychology

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In the current research, we investigated the lay representations of the recent economic downturn, that had severe consequences on the lives of the involved people. We compared data of respondents from two countries that were affected to a different degree by the crisis: Greece (N = 529) and Italy (N = 327). We examined laypeople's representations of the perceived causes of the crunch (e.g., overconsumption, obscure power conspiracy), the strategies that are believed to be useful to overcome it (e.g., conforming to EU request, EU exit), and the political participatory activities (e.g., legal and illegal activism) that people intend to adopt. These variables were analyzed in light of two main predictors: political orientation and subjective economic vulnerability. The main hypothesis was that self-positioning on the left/ right axis may be a strong driver of lay representations and political participation. However, we expected that in conjunction with the linear effect of this variable, its quadratic effect should be considered as well. The latter specifies that in some circumstances the opinions of people self-positioned at the poles of the political spectrum may be closer to each other than to the opinions of the people that position themselves in the center which sometimes do not behave as moderate but appear more conformist. Additionally, we hypothesized that vulnerability may be a motive to seek for explanations of the crisis, to find strategies and to engage in activities to overcome it. Findings were generally in line with predictions and were discussed in the light of recent research and the context of analysis.

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confidence: 99%

How Political Orientation and Vulnerability Shape Representations of the Economic Crisis in Greece and Italy

Mari¹,

Volpato²,

Παπαστάμου³

et al. 2017

International Review of Social Psychology

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“…4 In one sense this is a return to the stronger government interventions experienced between 1950 and 1970. In fact, many of the new statist policies rely for their execution on institutions established during that era.…”

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confidence: 97%

“…The Brazilian economist Bresser-Pereira believes the 2008 subprime crisis changed global capitalism, and that only middle-income countries engaged in neo-developmentalist strategies will emerge stronger from the turmoil. 2 Already for about a decade Brazil has been building a neomercantilist development approach involving 'noninstitutional restrictions on imports using exchange rates, regulation of financial flows, and active promotion of exports'. 3 The neo-mercantilist strategy has benefited Brazil's best interconnected capitalists and politicians, and will foreseeably continue to do so as Brazilian clout advances in the international political economy.…”

mentioning

confidence: 99%

Neo-mercantilist Capitalism and Post-2008 Cleavages in Economic Decision-making Power in Brazil

Kröger¹

2012

Third World Quarterly

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“…The crisis became apparent in 2008 after the collapse of Lehman Brothers in the US because of a financialization process -the creation of substantial artificial financial capital -that started in the 1980s, and of the neoliberal policies of deregulation (Bresser-Pereira, 2010). These policies involved the promotion of the corporate power by the privatization of the public sector and deregulation of financial markets, where taxes, social welfare system, environmental concerns were perceived as barriers to the profit of businesses (Zacune, 2013).…”

Section: The Appearance Of the 'Crisis'mentioning

confidence: 99%

Socio-cognitive Elaborations and Reactions to Economic Crisis: Insights from Social Psychology

Παπαστάμου

Valentim

Mari

et al. 2018

International Review of Social Psychology

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This special issue dedicated to the social psychological study of the economic crisis in four European Union countries along the Mediterranean includes six empirical papers discussing different aspects of the phenomenon. Four papers are part of a larger project that started in 2011, aiming to compare the social representations of the economic crisis in France, Greece, Italy, and Portugal. Starting from the study of the social representations of the causes of the crisis and the measures to overcome it, various social psychological parameters that interfere are examined. Thus, the political, ideological, and social positioning, and the axiological universe of the participants are considered as important predictors and mediators in the different papers. Additionally, possible political participatory activities in reaction to the crisis are considered. The presentation of the outcome of this research project is completed by a paper analyzing the way the crisis was depicted in the Italian press and a paper looking at the impact of the financial threat to political participation in France. The research presented here reveals the ways social subjects give meaning to a situation of crisis and thus provides social and political insights into social thinking and behavior with important policy implications for individual nations as well as Europe at large. In this paper, we present the general framework of the studies carried out and we introduce the collection of empirical papers of the special issue.

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The global financial crisis and a new capitalism?

Cited by 35 publications

References 16 publications

How Political Orientation and Vulnerability Shape Representations of the Economic Crisis in Greece and Italy

How Political Orientation and Vulnerability Shape Representations of the Economic Crisis in Greece and Italy

Neo-mercantilist Capitalism and Post-2008 Cleavages in Economic Decision-making Power in Brazil

Socio-cognitive Elaborations and Reactions to Economic Crisis: Insights from Social Psychology

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