chapter  1
16 Pages

Introduction: The Global Capitalist Crisis and its Aftermath

ByBerch Berberoglu

This conclusion presents some closing thoughts on the key concepts discussed in the preceding chapters of this book. The book examines the global capitalist crisis that is permanent and irreversible, notwithstanding the fact that there have been periods of recovery and expansion within the broader framework of overall epochal decline of the global capitalist system. The current global capitalist crisis that culminated in the Great Recession and beyond is just one serious crisis in a series of capitalist crises that have erupted over the past several centuries as capitalism developed and expanded from Europe to North America and elsewhere across the globe over this period. The crisis that countries have been experiencing under the watch of the International Monetary Fund (IMF) and the World Bank as well as the key states in the EU like Germany, is a product of not big-spending social welfare states.