Neoliberal capitalism and its crises in Europe: towards a Luxemburgian interpretation

Autumn 2018
DOI : 10.3898/NEWF:94.07.2018

This article recapitulates Rosa Luxemburg’s considerations on the capitalist penetration of non-capitalist economies as a condition for capital accumulation, as well as her arguments about the limits of social  reform and the shortcomings of claims for national self-determination. The theoretical tools Luxemburg  developed around these issues are then used to analyse the rise, consolidation and crisis of neoliberal capitalism in Europe. This analysis stresses the reintegration of previously communist countries into the  capitalist world system and the China boom as drivers of this neoliberal wave of accumulation. It concludes  with pointing at the economic limits of this wave and at emerging left and right alternatives to neoliberal  capitalism.