The paper "Complexities in Global Financial Crisis" is a perfect example of a finance and accounting coursework. Globally, most countries have faced a financial crisis which may lead to social polarization and a resurgence of populism in the coming few decades. Different economies take different time periods in the recovery after a crisis. Many researchers have discussed the impacts and the complexities that arise after a country undergoes some financial crisis which has adverse effects in the reconstruction of the society, the business as well as the government. For instance, Latin America experienced reconstruction in capitalism in early 1970 through the 21st century.
The crisis led to social conflicts, neoliberals, and resistance politics groups emerged. Similarly in Brazil, as slums were being upgraded, regimes in that country produced entangling neoliberals which were characterized by leftist populism with the modernist vision. Therefore this paper seeks to discuss the complexities involved after a financial crisis to both businesses and the government taking into consideration the past and the future. In a country like Brazil, the upgrading of slums was a project that was guided by spatial ordering that combined neoliberals and leftist populism.
This was deeply rooted in a modernized approach to upgrading the city. Under democracy, the Workers party was made up of a popularist government that argued and believed that poor people had the responsibility of taking care of their own lives. According to Cammack (2000), the neoliberal view associated with citizenship came up as a result of the new urban programs. Additionally, democracy and neoliberization resulted in complexity which was intertwined in the production of urbanization in Brazil through a paradoxical way. Neoliberalism encompasses conceptualization of all the current trends from an economic perspective, both politically and socially (Cammack, 2000).
Neoliberalism is characterized by the concern and the importance that is given to unregulated markets, the retreat of populism, the unregulated markets, the increased privatization, social institutions as well as the cutbacks present in the public sector. However, Blokker (2005), argues that a more subtle form of the neoliberalism has greatly dominated in institutions which support capitalism as well as the involvement of the non-governmental agencies in the running of the public-private partnerships.
This has always been the case since the 1990s (Blokker, 2005). The post World war 11 led to the golden age known as capitalism and economic expansion. This period entered into a point of crisis associated with restructuring as well as transformation which resulted in capital accumulation that is commonly referred to neo-liberalism. The crisis of the 1970s could not be solved by the social structure which focuses on accumulation within the Keynesian framework and context (Blokker, 2005). In this period, different projects were going global in various countries.
Further, capital responded on the constraints brought about by accumulation which was earlier imposed by the nation and state countries such as Latin America. In the 1980s and the 1990s, bureaucratic elites overtook the state power in most countries in the world (Blokker, 2005). The bureaucratic elites utilized the power obtained from the state to reform and restructure neoliberal, by creating avenues of new ways to transnational capital in the world. During the same period, the social forces shifted and favored the transnational capital as income shifted drastically from poor people to a new middle class and bureaucratic strata which created an avenue of the global market as well, as fuelling growth in most areas within a country.
However, profits declined in most countries during the temporal crisis of stagnation.