The world economy is on the brink of a profound crisis. The threat
of global deflation and the emergence of chronic excess global
capacity characterizes the contemporary phase of crisis and
stagnation. Lucarelli argues that these pathological features of
globalization acquire a remorseless logic during the "mature"
stages of monopoly capitalism. He explores the historical origins
and theoretical tendencies of this protracted crisis from a
Keynes/Kakecki perspective.
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