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Advancing in the Theory of Crisis: Social, Temporal and Geographical Dynamics

  • Juan Pablo Mateo ToméEmail author
Chapter

Abstract

This chapter draws attention to some essential issues which are considered key to fully grasp the meaning of the crisis and the surrounding controversies as well: the human dimension and State intervention, income distribution and the associated social conflict, together with finances and speculative bubbles. In addition, an analysis of the particularities of the crisis in advanced and peripheral economies is carried out. Contrary to other heterodox accounts, it is claimed that the explanation of the crisis requires considering as well the geographical dimension, that is, the unequal development on a world scale. Consequently, the author points out that less developed economies tend to have greater inequality, suffer more from financial instability and have greater external dependence. Ultimately, the manifestation of the crisis depends on the degree of development of the productive forces and the place a country occupies in world capitalism, grounded on the capacity to produce surplus.

Keywords

Holistic approach Labor power Underdevelopment Capital competition Surplus value 

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Copyright information

© The Author(s) 2019

Authors and Affiliations

  1. 1.University of ValladolidSegoviaSpain

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