2011
DOI: 10.1177/0896920510380946
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The Speed of Collapse: The Space-Time Dimensions of Capitalism’s First Great Crisis of the 21st Century

Abstract: The essay analyses the global economic crisis from a critical perspective on the function of capital accumulation in space-time. It argues that the relative ‘speed of collapse’ is a historically new phenomenon that has been generated through the neoliberal and ICT driven mode of capitalism that has dominated since the 1970s. The ‘speed of collapse’, I argue, will be followed by a rapid financially led recovery that signals not that the system is self-stabilizing and durable, but that the system is out of contr… Show more

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Cited by 14 publications
(17 citation statements)
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“…‘The tension between fixity and mobility becomes a crisis when there are impediments to capital accumulation after particular phases of intense development’. Hassan (2011: 389) similarly draws on Harvey to refer to capitalism's long‐running relationship with spatial expansion in which the ‘capitalist must always be on the move, seeking new markets, seeking new sources of raw material and cheaper labour’. Hassan (2011: 389) observes that space and time must remain dominant to capitalism's narrative and trajectory.…”
Section: Space‐time Discourses and Globalisationmentioning
confidence: 99%
“…‘The tension between fixity and mobility becomes a crisis when there are impediments to capital accumulation after particular phases of intense development’. Hassan (2011: 389) similarly draws on Harvey to refer to capitalism's long‐running relationship with spatial expansion in which the ‘capitalist must always be on the move, seeking new markets, seeking new sources of raw material and cheaper labour’. Hassan (2011: 389) observes that space and time must remain dominant to capitalism's narrative and trajectory.…”
Section: Space‐time Discourses and Globalisationmentioning
confidence: 99%
“…Favored by those who seek to protect and speak on behalf of the environment, their activities and objectives encompass a range of positions that aim to strike a balance between the demands of human life and the well-being of the environment for present and future generations (although significant philosophical differences exist over where the ‘right’ balance is to be found between human and non-human interests) (Curry, 2011). Pro-environmental attitudes also confront the instrumentality and time–space compression of global capitalism through an emphasis on the ‘cosmological’ or ‘glacial’ time of the natural world, thereby undercutting the imperatives of short-term political cycles and the demands of real-time financial markets (Hassan, 2011; Lash and Urry, 1994; McAfee, 1999).…”
Section: Mediatized Environmental Conflictmentioning
confidence: 99%
“…Intersecting global information and financial flows have reached speeds that are difficult to comprehend and control over the past 30 years (Strange 1986;Hassan 2011). The repeated structural convulsions of the global economy -Black Monday in 1987, Black Wednesday in 1992, the Asian financial crisis of 1997, the tech-wreck of the early 2000s, the onset of the global financial crisis (GFC) in 2007, and the flash crash of 2010 -are evidence of the highspeed 'accidents' produced by the capitalist system that impact upon citizens and employees across the globe (Virilio 2007;Cottle 2011).…”
Section: Brett Hutchins Monash Universitymentioning
confidence: 99%