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The American Financial Crisis in the Marxist Perspective Abroad
QI Hao
Teaching and Research
2009, (8):
44-51.
The paper presents a review of the literature abroad in the Marxist perspective on the American financial crisis since it broke out in 2007.The different views expressed by Marxist economists and the mainstream economists abroad are as follows.First,Marxist economists attribute the cause for the financial crisis to continuous overproduction;Second,the point of departure for Marxist economists to discuss the trend of financialization and spread mechanics of the crisis is the capitalist resolution to overcome the contradictions arising in the process of accumulating capital;Third,Marxist economists adopt a global view in analyzing the financial crisis,and thus analyze the impact of the financial crisis on the world system of capital accumulation through globalization of production and financialization;Fourth,Marxist economists criticize the theory and policy of neo-liberalism through the financial crisis,and analyze the self-denial trend of neo-liberalist.In short,Marxist economists have systematically showed the superiority of Marxist methodology while analying the financial crisis.
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