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Financial crisis of 2007–2008

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Systemic crisis: fix
[[John Bellamy Foster]], a political economy analyst and editor of the ''[[Monthly Review]]'', believes that the decrease in GDP growth rates since the early 1970s is due to increasing [[market saturation]].<ref>{{cite web|url=|title=The Financialization of Capital and the Crisis|publisher=Monthly Review|accessdate=November 11, 2009}}</ref>
In 2005, [[John C. Bogle]] wrote that a series of challenges face capitalism that have contributed to past financial crises and have not been sufficiently addressed:{{quotation|Corporate America went astray largely because the power of managers went virtually unchecked by our gatekeepers for far too long ... . They failed to 'keep an eye on these geniuses' to whom they had entrusted the responsibility of the management of America's great corporations.}} Echoing the central thesis of [[James Burnham]]'s 1941 seminal book, ''[[James Burnham#The Managerial Revolution|The Managerial Revolution]]'', Bogle cites particular issues, including:<ref>{{cite book|last=Bogle|first=John|year=2005|title=The Battle for the Soul of Capitalism|publisher=Yale University Press|isbn=978-0-300-11971-8}}</ref>
* that "Manager's capitalism" has replaced "owner's capitalism", meaning management runs the firm for its benefit rather than for the shareholders, a variation on the [[principal–agent problem]];
* the burgeoning executive compensation;