Cookies Policy

This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies.

I accept this policy

Find out more here

Economic Downturn And Decline Of Free Market Doctrine

Brill’s MyBook program is exclusively available on BrillOnline Books and Journals. Students and scholars affiliated with an institution that has purchased a Brill E-Book on the BrillOnline platform automatically have access to the MyBook option for the title(s) acquired by the Library. Brill MyBook is a print-on-demand paperback copy which is sold at a favorably uniform low price.

Access this chapter

+ Tax (if applicable)

Chapter Summary

The ideology of the free market has dominated in the industrialized world well into the first decade of the 21st century. Free market ideas were promoted all across the industrialized world for as long as they functioned to justify the kind of deregulation and privatization that facilitated capital accumulation under conditions of concentration and centralization. The financial crisis and economic downturn meant that government intervention was now compatible with the interests of investors. The representatives of capital found themselves having to accept policies that were incompatible with the free market and reject policies that were compatible with the free market. The free market mantra, TINA (there is no alternative), had to be changed to TINABN (there is no alternative to bank nationalization) (Hadas 2008). The process of capital accumulation had to be preserved, even at the expense of such cherished beliefs.

Keywords: economic downturn; financial crisis; free market



Can't access your account?
  • Tools

  • Add to Favorites
  • Printable version
  • Email this page
  • Recommend to your library

    You must fill out fields marked with: *

    Librarian details
    Your details
    Why are you recommending this title?
    Select reason:
    Profitable Ideas — Recommend this title to your library
  • Export citations
  • Key

  • Full access
  • Open Access
  • Partial/No accessInformation