The crisis of US neoliberalism and the risk of current economic stagflation

Purpose Since the outbreak of COVID-19, tremendous changes have taken place in US economy – economic growth whole year 2020 was negative, and though it enjoyed a significant rebound for first half 2021, rate began to decline rapidly by third quarter, inflation suddenly rises rapidly, which after came all-time highs “misery index” consisted unemployment rate. All signs indicate that will likely enter “stagflation” crisis. Design/methodology/approach This paper analyzes institutional social contradictions United States during neoliberal era from perspectives domestic structure accumulation (SSA) international SSA based on theory. Findings The current risk stagflation is concentrated long-term accumulated under impact epidemic, product irreconcilable inherent capitalist mode production. Originality/value Based this analysis, points out with deepening crisis, end new be established gradually.