Capitalism, Crisis, Growth and Ecology

Abstract

The present global crisis of capitalism, the worst for 100 years, or at least since the Great Recession of the inter-war years, has affected all varieties of capitalism. The response to the crisis from the right has been to insist on austerity to deal with deficits, together with supply side measures to create the conditions for renewed growth. The response from the left has been to emphasise the demand side through fiscal stimulus, relying on growth to deal with the deficits. In both cases there has been an unquestioned assumption that growth is a good thing, albeit from the left sometimes green growth, through a green new deal.