by Juan Pablo Mateo Tomé (Author)
About the Author
Juan Pablo Mateo Tomé is currently Professor in the Department of Applied Economics, Structure and History, Complutense University of Madrid, Spain. His research specialises in Political Economy, International Economics and Development Economics.
About this book
This book has a dual purpose. First, it analyses the concept of economic crises within economic theory, showing the various theoretical foundations and controversies amongst different schools of economic thought. Second, it presents an empirical analysis of the Great Recession in Spain, addressing the growth period of 1995 to 2007-08, the subsequent depression until 2013-14 and the recovery that followed. It also shows the way in which the inner contradictions of capital manifests itself in an European peripheral economy under a real estate bubble, emphasizing the role of the Spanish economy in European capitalism.
This theoretical and empirical heterodox approach will be of interest to students and scholars in political economy, and those with an interest in the Eurozone.
Brief contents
1 Introduction: The Political Economy of the Spanish Crisis 1
Part I Foundations of the Theory of Crisis in the Economic Thought 27
2 The Materialist Conception of the Crisis 29
3 Advancing in the Theory of Crisis: Social, Temporal and Geographical Dynamics 53
4 Conventional Economics and the Theories of the Possibility of Crisis 79
Part II A Crisis of Capital Valorization: Profitability, Asset Inflation and the Composition of Capital 105
5 The Fall in Profitability Underlying the Great Recession 107
6 Construction and the Housing Boom: Analyzing the Price Effect from the Law of Value 135
7 Why Does Profitability Fall? Paradoxes of Capital Composition and Labor Productivity 165
Part III Controversies Around the Crisis: Why It Happened, What Should Be Done 195
8 This Time It Was Also the Same: Accumulation of Imbalances and Human Failures 197
9 Labor Market, Wages and Crisis 217
10 Financialization and Crisis: From Low Interest Rates to a Credit Boom and Over-indebtedness 251
11 The Way Out of Crises: From Diagnosis to a Program of Economic Policy 283
12 Conclusions: Theory and Practice in the Analysis of the Spanish Economic Crisis 301
References 313
Index 329
Pages: 332 pages
Publisher: Palgrave Macmillan; 1st ed. 2019 edition (November 9, 2019)
Language: English
ISBN-10: 3030270831
ISBN-13: 978-3030270834