Prominent German economic sociologist Wolfgang Streeck analyzes the origins of recent financial, fiscal, and economic crises, viewing them as part of the long-term neoliberal transformation of post-war capitalism that began in the 1970s. Drawing on crisis theories advanced at the time, he examines the ensuing contradictions and conflicts among states, governments, voters, and capitalist interests—a process in which the focus within the European state system shifted from taxation and debt-based financing to fiscal "consolidation." The study concludes by considering the prospects for restoring social and economic stability.
This book will be of interest to economists, sociologists, political scientists, and historians.