"Capitalism tried three escape routes from the conundrum of overproduction: neoliberal restructuring, globalization, and financialization
Escape Route # 1: Neoliberal Restructuring
Neoliberal restructuring took the form of Reaganism and Thatcherism in the North and Structural Adjustment in the South. The aim was to invigorate capital accumulation, and this was to be done by 1) removing state constraints on the growth, use, and flow of capital and wealth; and 2) redistributing income from the poor and middle classes to the rich on the theory that the rich would then be motivated to invest and reignite economic growth.."
to read Walden Bello's article published in Monthly Review, February 2009, visit