economic crises

economic crises

periodic, or more irregularly occurring, phases in the working of the capitalist economy, in which economic accumulation is checked or halted, either as part of a regular cycle of alternating booms and depressions (see TRADE CYCLE), or as the outcome of exceptional circumstances, such as sudden restrictions on the supply of a vital commodity such as oil. In one view economic crises are functional for the capitalist system as a whole in that they promote a reshaping of production, restoring profitability and renewed accumulation. In MARXIAN ECONOMICS, there are suggestions that crises and depressions will tend to become more severe (see CRISES OF CAPITALISM), but no entirely convincing arguments have been given why this should be so. See also LONG-WAVE THEORY.
References in periodicals archive ?
28 (ONA) Sultan Qaboos University (SQU) represented by the Humanitarian Research Center will organize on December 11th 2017 at SQU the Cultural Center a panel discussion titled ' Economic Crises Management'.
Spurred by the collapse of Lehman Brothers in 2008, the editor initiated a research project to explore how economic crises affect paradigmatic change.
This collection of essays reflects on the nature of economic crises that have defined the "great recession," as well as their political consequences or lack thereof.
The southern and the eastern nations of the world have suffered from constant economic crises, poverty, unfair distribution of income and unemployment throughout the 20th century.
Some governments may elect to restrict growth in health care expenditure following economic crises, as is now happening in the United Kingdom (Appleby 2011), while others, especially those in receipt of external loans, may be required to cut it (Abel-Smith 1986).
He appreciated the consultation of government with political parties over economic crises.
Future research should investigate school districts' decision-making processes in the retention of teacher-librarian positions during economic crises.
We have weathered one of the biggest economic crises of the century and we are weathering it.
AaAa Due to the impact of food, energy, financial and economic crises during the past three years, some of our countries are threatened by macroeconomic and social imbalances, MaEozouz added.
The famous 1929 crisis was a clear example on the impact of economic crises
Summary: Moroccan Prime Minister, Abbas El Fassi, called, here Saturday, on the low and middle-income countries (G11) to form a united front to deal with the risks of globalization and major economic crises.
The industries would also have to prepare themselves for the global competition in the wake of the economic crises," he added.

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