In 2007/2008, the Global Financial Crisis, caused by financial market speculation related to home ownership and mortgages, spilled over into a global economic recession. The current coronavirus crisis too will result in a perhaps even more dramatic global economic crisis. Unlike in 2007/2008, however, many argue that this time it is not human error, which caused the crisis. Rather, we are dealing with a natural crisis unrelated to our capitalist economy. In this post, I will critically engage with this claim.
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