Mainstream economic approaches, such as Keynesian and Neoclassical, agree one another in
that the crises of capitalism should be handled within the capitalism. While Keynesians defend
preemptive state intervention to avoid crises, neoclassical economics believe that the market will solve
all problems without the need to resort to state action. After the Great Depression in 1930, Keynesian
economics gained popularity, while neoclassical economics took over in the 1970s. Today, Keynesian
economics became popular again in the aftermath of 2008 financial crisis. According to them, there is
no alternative to the market system. Marxian explanation of 2008 financial crisis presents an alternative
to the both. In this light, the aim of this study is to discuss the Marxian take on the 2008 global crisis,
focusing on the phenomenon of financialization in this context.
