The purpose of this blog is to provide analytical commentary on formal and informal labour organisations and their attempts to resist ever more brutal forms of exploitation in today’s neo-liberal, global capitalism.

Friday, 20 February 2026

Dissecting the Polycrisis, Charting the Conceptual Terrain of Enquiry

Polycrisis has become a widely used concept. Politicians, public intellectuals and academics alike are drawing on it when describing our current global situation. In my article ‘Dissecting the Polycrisis, Charting the Conceptual Terrain of Enquiry’, recently published in the Journal of Balkan and Near Eastern Studies, I explore how we can distinguish between fundamental crises on one hand, and crises, which are simply the concrete manifestations of those deeper, structural crises on the other. In this blog post, I summarise the main conceptual and empirical findings of the article.

 

‘Polycrisis’ is generally defined as a cluster of distinct, yet interrelated crises which reinforce each other (Lawrence, Janzwood and Homer-Dixon 2022). There is, however, little consensus on its constituent parts. Helleiner (2024), when assessing economic globalization’s polycrisis, includes the US-Chinese trade war, a global health crisis around Covid-19, an international security crisis due to the Ukraine war, an environmental crisis and a crisis of democracy. Re the EU, Nicoli and Zeitlin (2024) identify a first polycrisis around the sovereign debt crisis (2009–2016) and the migration crisis (2015–2016) and a second polycrisis brought about by the Covid-19 pandemic (2020–2021) and the Ukraine war (since 2022).

 

As I argue in the article, the problems with these analyses of the multiple global crises we are currently confronting are two-fold. First, they are empiricist. See, for example, the way Adam Tooze (2022) counts seven radical challenges and then maps them and their potential interaction in what he calls crisis pictures. ‘To try and summarize these effects I compiled the following, entirely provisional and highly debatable matrix of interactions between the different macroscopic risks facing us over the next 6-18 months.’ It is difficult to think of a more purely empirical engagement with the current situation. What such empiricism does not allow us to do is to distinguish between structural crises and their mere appearances.

 

Second, these accounts of polycrisis are ahistoric in that they treat our current crisis ridden period as exceptional. Thereby, they completely overlook that capitalism has always been characterised by crisis. As a result, they miss completely the root causes of our current crises. Inevitably, these analyses remain within the given historical context. They are all about adjustments, changes, crisis responses within the existing system. The historical specificity of our capitalist epoch is overlooked.

 

By contrast, I draw on a historical materialist approach to grasp the historical specificity of capitalism. Starting from the way the capitalist social relations of production are organised around wage labour and the private ownership or control of the means of production, it becomes apparent why the economic and the political appear to be separate in our capitalist epoch. Unlike in feudalism, exploitation is not directly politically enforced. Rather, because workers do not own their own means of reproduction, they are indirectly, economically compelled to sell their labour power in order to ensure their survival.

 

Through a Marxist focus on the historical specificity of capitalism and its interrelations with patriarchy, racism and the relentless expansion into nature, I argue that we can identify four structural crises. These include a crisis of overaccumulation within global capitalism, a crisis of global gender relations around the drastic increase in violence against women, a crisis of global race relations as visible in the way surplus populations such as the Palestinian people are dispatched through abject violence, and a crisis of global ecology with humanity running up against environmental limits.

 

Identifying these four structural crises indicates that trade wars and the Ukraine war, for example, are consequences of the crisis of overaccumulation as well as the scramble for critical minerals related to the crisis of global ecology. Equally, the GFC is an appearance of the crisis of overaccumulation and the pandemic can be regarded as resulting from capitalism’s relentless expansion into nature, facilitating the spread of illnesses from wildlife to human beings. Moreover, it can be demonstrated how a response to the crisis of global capitalism, inevitable is conditioned by patriarchal and racist forms of oppression. In short, if we want to understand the current polycrisis and go beyond brute empiricism, we need to go beyond simply engaging with what we see in front of us.

 

Despite the dramatic impact of these crises on humanity, people are never only victims. It is in moments of utmost terror that viable alternatives to global capitalism may emerge. The genocide of the Palestinian people perpetrated by Israel has to be understood as related to struggles against fossil fuel capitalism and for climate justice. ‘In this sense, the extraordinary battle for survival waged by Palestinians today in the Gaza Strip represents the leading edge of the fight for the future of the planet’ (Hanieh 2024).



Andreas Bieler


Professor of Political Economy
University of Nottingham/UK

Andreas.Bieler@nottingham.ac.uk

20 February 2026


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