A Cacophony of Crises: Systemic Failure and Reasserting People's Rights

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    Abstract

    Abstract
    A cacophony of crises challenges neoliberalism and marks a fundamental reversal in capitalism itself. This is a systemic failure of the capitalist mode of
    production to renovate and renew itself through a multiplicity of environmental and resource crises and the financial crises which has important links with the
    real economy. Capitalism cannot survive by simply inventing new institutions – global or national – or by shifting to another phase. New nationalisms and
    protectionisms loom on the horizon, while darker shades of xenophobia are another possible scenario. A further possibility lies in the emergence of informalized labor markets and economies as a result of the last phase of neoliberal globalization. Informalization or disposessed surplus labor
    has some revolutionary potential. The paper discusses various alternatives
    based on the new economy of the informalized sectors
    Original languageEnglish
    JournalHuman Geography
    Pages (from-to)18-33
    Number of pages16
    ISSN1942-7786
    Publication statusPublished - 1 May 2010

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