Crisis and Sustainability

The Delusion of Free Markets

  • Alessandro┬áVercelli

Table of contents

  1. Front Matter
    Pages i-xx
  2. Alessandro Vercelli
    Pages 1-27
  3. Globalisation and Financialisation in a Long-Run Perspective

    1. Front Matter
      Pages 29-29
    2. Alessandro Vercelli
      Pages 31-61
    3. Alessandro Vercelli
      Pages 63-87
    4. Alessandro Vercelli
      Pages 89-115
  4. The Great Recession: Causes and Consequences

    1. Front Matter
      Pages 117-117
    2. Alessandro Vercelli
      Pages 119-144
    3. Alessandro Vercelli
      Pages 145-182
    4. Alessandro Vercelli
      Pages 183-216
  5. Epilogue

    1. Front Matter
      Pages 217-217
    2. Alessandro Vercelli
      Pages 219-246
    3. Alessandro Vercelli
      Pages 247-267
  6. Back Matter
    Pages 269-329

About this book


This book offers a novel interpretation of the Great Recession and the ensuing Euro Crisis as a consequence of the evolution of capitalism since the 1970s. Chapters argue that the neoliberal development trajectory pursued in recent decades is unsustainable, and posit that neither sound macroeconomics nor empirical data support the unqualified faith in free markets that inspired it.  The book begins by providing a broad critical perspective on key concepts such as freedom, free market, free trade, globalisation and financialisation, before going on to analyse the long and deep recent crisis as a result of the neoliberal policy strategy adopted since the early 1980s. The alternative narrative outlined in the book provides insights into the policy strategy required to achieve a sustainable development trajectory.


Financialisation Globalisation Great Recession Eurocrisis Neoliberalism Sustainability Positive Freedom Negative Freedom

Authors and affiliations

  • Alessandro┬áVercelli
    • 1
  1. 1.LondonUnited Kingdom

Bibliographic information

  • DOI
  • Copyright Information The Editor(s) (if applicable) and The Author(s) 2017
  • Publisher Name Palgrave Macmillan, London
  • eBook Packages Economics and Finance
  • Print ISBN 978-1-137-60068-4
  • Online ISBN 978-1-137-60069-1
  • Buy this book on publisher's site