Description
Krippner believes that the background to the Financial crisis of 2008 was the financialization of the US economy partially brought about by the reaction of political policymakers to the triple crises of US society that began in the mid-1970s (the social crisis, the fiscal crisis, and the legitimation crisis.) On the other hand, Streeck, building upon Krippner’s analysis, believes that through the period leading up to the financial crisis of 2008 and beyond, the US and European states have gone from being tax states to debt states and following the crisis to becoming consolidation states. Spell out both of these analyses. What do you think of these two analyses?