The State Of Capitalism Economy Society And Hegemony Costas Lapavitsas The Erensep Writing Collective by Costas Lapavitsas & The Erensep Writing Collective 9781839767845, 1839767847 instant download after payment.

Thinking beyond pandemic capitalism
The health emergency that broke out in 2020 is a landmark event in the development of capitalism, confirming the underlying change signalled by the Great Crisis of 2007-9. The pandemic has catapulted the state to the centre of economic activity. However, a historic impasse is steadily becoming apparent at the core of the world economy
Productive accumulation is flaccid, as both profitability and labour productivity are weak. Financialisation has entered a new phase, as “shadow banking” grew relative to other banks but is entirely dependent on the state. The power of the state derives from command over fiat money and can certainly deliver enormous boosts to aggregate demand, but that is not enough to tackle the weakness of the productive sector.
The rise in inflation for the first time in forty years indicates the impasse. There is a transparent need for intervention on the supply side, directly challenging capitalist...