• Stavros Tombazos
Part of the Palgrave Insights into Apocalypse Economics book series (PIAE)


From the early 1980s, the neoliberal policies that transformed the old Keynesian regulatory framework, transformed also the characteristics of the crises: The crisis of the 1970s was due to the fall in the profit rate. The present crisis is due to the structural slowdown in the rhythm of realisation of value. The current crisis is the crisis of the neoliberal response to the crisis of the 1970s. The neoliberal reproduction of capital survives with the support of economic policies that create new “bubbles” on the one hand, and social disasters on the other. We live in the impasse of a schema of reproduction in which money capital prevails, whose existence is only possible through severe periodic recessions, social regression and political crises.


The crisis of the 1970s and the current crisis Realisation of value Social reproduction Social regression Political hegemony 


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© The Author(s) 2019

Authors and Affiliations

  • Stavros Tombazos
    • 1
  1. 1.University of CyprusNicosiaCyprus

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