THE CRISIS OF A POSTWAR LOGIC OF GLOBAL ACCUMULATION

Abstract

In this article, we explore the idea that the current financial crisis is a manifestation of the exhaustion of the global capital accumulation process, a process that was established after World War II and based on the principle of globalization. The first signs of this exhaustion appeared in the 1970s. The liberalizing solutions the capital itself has imposed since then in order to maintain profitability have permitted, on one hand, a certain amount of global productive restructuring, but, on the other, have created many opportunities for the fictitious valorization of capital that is now erupting in crisis.