Abstract
In this chapter, we begin with a short introduction, followed by a summary of the crisis that most argue began in 2008, and although some argue that it ended in 2010, we consider it to still be ongoing, particularly in Europe. In any case, we first present a description of the main events associated with the crisis, which is increasingly referred to as the “Great Recession.” Then, we present a summary of the mortgage crisis in the United States, the financialization of the global economy, and in particular, the role of fictitious capital, in an overall analysis addressing accumulation and profitability for global capital.
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Cooney, P., Marquez, G. (2016). The Impact of the Global Economic Crisis on Brazil from 2008 to the Present. In: Santarcángelo, J.E., Justo, O., Cooney, P. (eds) Latin America after the Financial Crisis. Palgrave Studies in Latin American Heterodox Economics. Palgrave Macmillan, New York. https://doi.org/10.1057/9781137486622_4
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DOI: https://doi.org/10.1057/9781137486622_4
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