ABSTRACT
This chapter examines Global Financial Crisis' implications for education. Relatively little interest has been shown by educational studies in the economic and social crisis. An approach can be found in the German political economist Wolfgang Streeck's 'How to study contemporary capitalism'. In The making of global capitalism, Leo Panitch and Sam Gindin insist that far from the withering of the state and the lack of regulation of the financial sector, the capitalist state is central to any account of the making or operation of global capitalism. In the United States, Social Structure of Accumulation (SSA) theorists identify four distinct social structures: the robber capitalism of the 1870s; the progressive era which lasted from around 1910 to the end of World War Two; regulated capitalism which lasted from 1945–79. Each SSA provides a way to stabilise the main conflicts that capitalism tends to produce, i.e. the relations between capital and labour and also between different sections of capital.
