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To avoid having to confront domestic resistance, which can be politically costly, policymakers might solve a crisis of over-accumulation by resorting to a 'spatial fix'--in other words, by opening up new consumer markets, labour markets and investment markets abroad.

a 'temporal fix'. Capital can be invested in long-term projects like infrastructure, education and research that will improve the future productivity of capital.

When capitalism hits these limits, investors find themselves with fewer options for investing their capital, since nothing gives an acceptably high return. They can't just put it into savings because interest rates on savings accounts are typically lower than inflation, and that means losing money.…

[...] Major decisions require 85 per cent of the vote. Not incidentally, the United States holds about 16 per cent of the shares in both institutions, and therefore wields de facto veto power. The next largest shareholders are France, Germany, Japan and the UK--all members of the G7. Middle- and lo…

[...] First, developing countries had to redirect all their existing cash flows and assets towards debt service. They had to cut spending on public services like healthcare and education and on subsidies for things like farming, food and infant industries; they also had to privatise public assets b…