The Theory of Crisis and the Great Recession in Spain

Abstract

1.Introduction: The Political Economy of the Spanish Crisis -- Part I: Foundations of the Theory of Crisis in the Economic Thought -- 2.The Materialist Conception of the Crisis -- 3.Advancing in the Theory of Crisis: Social, Temporal and Geographical Dynamics -- 4.Conventional Economics and the Theories of the Possibility of Crisis -- Part II: A Crisis of Capital Valorization: Profitability, Asset-Inflation and the Composition of Capital -- 5.The Fall in Profitability Underlying the Great Recession -- 6.Construction and the Housing Boom. Analyzing the Price-Effect From The Law of Value -- 7.Why Does Profitability Fall? Paradoxes of Capital Composition and Labour Productivity -- Part III: Controversies Around the Crisis: Why it Happened, What Should Be Done -- 8.This Time It Was Also The Same: Accumulation of Imbalances and Human Failures -- 9.Labor Market, Wages and Crisis -- 10. Financialization and Crisis: From Low Interest Rates to a Credit Boom and Over-Indebtedness -- 11.The Way Out Of Crises. From Diagnosis to a Programme of Economic Policy -- 12.Conclusions.