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Unlike single crises which may have clear causes and solutions, a polycrisis involves overlapping and interdependent issues, making it a more pervasive and enduring state of instability. [ 3 ] [ 4 ] [ 5 ] This concept reflects growing concerns about the sustainability and viability of contemporary socio-economic, political, and ecological systems.
Keynesian economics, which attempts a "middle way" between laissez-faire, unadulterated capitalism and state guidance and partial control of economic activity, such as in the French dirigisme or the policies of the Golden Age of Capitalism, attempts to address such crises with the policy of having the state actively supplying the deficiencies ...
An economic crisis is a sharp transition to a recession. See for example 1994 economic crisis in Mexico, Argentine economic crisis (1999–2002), South American economic crisis of 2002, Economic crisis of Cameroon. Crisis theory is a central achievement in the conclusions of Karl Marx's critique of Capital.
an economic crisis which can range from or include a possible financial crisis, currency crisis, or any economic shock, or any breakdown or major dysfunctions within the economic system, or a major upheaval due to a natural disaster, which can include severe weather, or epidemics, or drought, or famine, or other events related to the natural world.
2012 Aysén protests due to the high cost of living in Patagonia. A cost-of-living crisis refers to a socioeconomic situation or period of high inflation where nominal wages have stagnated while there is a sharp increase in the cost of basic goods, such as food, housing, and energy.
Crisis theory, a theory generally associated with Marxian economics Financial crisis , a variety of situations in which some financial institutions or assets suddenly lose a large part of their value Psychology
Inflation is its highest level in over a decade in Bolivia, which was heralded for its commodities-backed "economic miracle" in the 2000s. Now the country faces its worst economic crisis this ...
A new normal is a state to which an economy, society, etc. settles following a crisis, when this differs from the situation that prevailed prior to the start of the crisis (the "old normal"). [1] The term has been employed retroactively in relation to World War I , World War II , the September 11 attacks , the financial crisis of 2007–2008 ...