The Structural Crisis and the Emerging Patterns of Class Conflict

  • Nils C. Kumkar
Chapter
Part of the Critical Political Theory and Radical Practice book series (CPTRP)

Abstract

Kumkar offers a Regulation Approach inspired understanding of the Great Recession as an escalation of the structural crisis of the finance-dominated accumulation regime—a crisis which could only be solved by a transition to a new regime of accumulation. The conflict between factions of capital about this transformation, which Kumkar shows to also have left its mark on the polarizing presidential election of 2008, however, did not lead to structural transformation but rather to an interregnum of “austerity by gridlock”. The timing and thematic focus of the Tea Party and Occupy Wall Street can be understood through the dynamics of this interregnum and especially the conflict between factions of capital that functioned as a resonance body for the protests.

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Copyright information

© The Author(s) 2018

Authors and Affiliations

  • Nils C. Kumkar
    • 1
  1. 1.University of BremenBremenGermany

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