The Crisis: a Conjunctural Problem or the Result of the Logic of Global Accumulation? (original) (raw)
when focusing on an event of not appreciating the situation in which it lies. Of course, there are enormous risks associated with seeking to understand the complex whole when working with a set of relations, which can be difficult to account for in a coherent manner. Perhaps an attempt to understand the complexity is worth the trouble in order to go beyond the basic analyses that relate the current crisis to just an irrational collapse concentrated in a single market (the North American mortgage market) and not the system as a whole, or to regulatory errors and panic that were able to bring the world to its knees, as if a butterfly beating its wings could cause a hurricane somewhere in the world.
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