Duménil: Neoliberal trends setting up a terrible future of inequality and exploitation for the workers.
At the end of the 1970s, capitalism entered into a new phase, "neoliberal capitalism" or, for short, "neoliberalism". After almost 30 years, in August 2007, a crisis struck the United States, the center of the neoliberal world. The crisis was originally denoted as the "subprime crisis" but it became rapidly clear that the U.S. financial sector was devastated. In October 2008, it appeared that the entire globe was affected, and the GDP of most countries entered into a period of contraction.
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