Cannibalistic Captalism and the Current Crisis

Susanne Soederberg

Abstract


The social dimension is often omitted from neoliberal narratives of financial crises. Most troubling, however, is the pernicious silence surrounding the significant and increasingly perilous links between corporations (financial and nonfinancial), workers (skilled and unskilled), and the widening and deepening of a core trend in financial markets known as securitization.

In this paper, I endeavour to draw and problematize the connections between corporations, workers, and securitization in the context of the United States, where these three elements come together in their most brazen form. My contribution is to expose the paradoxes as well as the relations of domination and resistance underpinning the current economic crisis. More fundamentally, I seek to explore what this means in terms of the changing features of neoliberalization and its social reproduction.

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Studies in Political Economy:
Online ISSN 1918-7033
Print ISSN 0707-8552