Capitalism, Crisis, and Alternative System Seeking

Year 2014, , 77 - 88, 31.01.2014

Gülten Üstündağ

https://doi.org/10.20991/allazimuth.167323

Abstract

Capitalism, Crisis, and Alternative System Seeking

Abstract

The current economic stagnation, which some have considered to be in existence since the 1970s and that peaked with the collapse of the financial markets in 2008 (Amin, 2011, p.3) has engendered discussions about the rise of new ideologies and regional-global powers as an alternative to the capitalist order led by the United States (US). Several questions arise regarding reshaping the capitalist system in the face of emerging powers such as China and those in the Persian Gulf and Latin America, and regarding assisting the recovery of the current system: Is the global capitalist system facing collapse? What do financialization and monopolization mean in the capitalist system? What kind of new formations does a crisis of capitalism lead to?

Keywords

Capitalism, Crisis, Alternative

References

• “Gulf Countries Take Steps to Achieve Monetary Unity.” Al Monitor. http://www.al-monitor.com/pulse/ business/2013/12/gulf-gcc-monetary-union-central-bank.html#.
• Amin, Samir. Ending the Crisis of Capitalism or Ending Capitalism? New York: Pambazuka Press, 2011.
• Foster, John Bellamy and Robert W. McChesney. The Endless Crisis: How Monopoly –Finance Capital Produces Stagnation and Upheaval from the USA to China. New York: Monthly Review Press, 2012.
• Hanieh, Adam. Capitalism and Class in the Gulf Arab States. New York: Palgrave Macmillan, 2011.