Global Capitalist Crisis and the Second Great Depression

Egalitarian Systemic Models for Change

Author: Armando Navarro

Publisher: Lexington Books

ISBN: 0739170171

Category: Political Science

Page: 436

View: 1722

This book provides a comprehensive political, economic, and historical analysis of the events and circumstances from the 1920s to 2010 that impacted the rise of today’s “Global Capitalist Crises,” Global Economic Crises, and the U.S. s’ “Second Great Depression.” It argues that liberal capitalism is a “failed” political and economic system in dire need of “systemic change”into either social democracy or democratic socialism via the creation of a New Movement.
Posted in Political Science

The Long Depression

Marxism and the Global Crisis of Capitalism

Author: Michael Roberts

Publisher: Haymarket Books

ISBN: 1608465071

Category: Business & Economics

Page: 380

View: 3647

Setting out from an unapologetic Marxist perspective, The Long Depression argues that the global economy remains in the throes of a depression. Making the case that the profitability of capital is too low, and the debt built up before the Great Recession too high, leading radical economist Michael Roberts persuasively presents his case that this depression will persist until the profitability of capital is restored through yet another slump.
Posted in Business & Economics

The Spectre at the Feast

Capitalist Crisis and the Politics of Recession

Author: Andrew Gamble

Publisher: Macmillan International Higher Education

ISBN: 0230240526

Category: Political Science

Page: 200

View: 9893

After a long feast of prosperity in the western world, the crisis in the financial markets has conjured up an old spectre – the spectre of capitalist crisis, which many thought had been finally exorcised. On past experience, a full-blown capitalist crisis would bring with it the threat of slump, collapse, polarisation, conflict, and even war, spreading to all parts of the global economy - hence the great efforts being made to contain the present downturn. This important new book by a leading authority sets the financial crisis of 2007/8 in historical context and assesses its global consequences, how far it might go, and what is to be done.
Posted in Political Science

The Challenge of Global Capitalism

The World Economy in the 21st Century

Author: Robert Gilpin

Publisher: Princeton University Press

ISBN: 0691186472

Category: Business & Economics

Page: N.A

View: 4481

Posted in Business & Economics

Zombie Capitalism

Global Crisis and the Relevance of Marx

Author: Chris Harman

Publisher: Haymarket Books

ISBN: 1608461041

Category: Business & Economics

Page: 424

View: 2896

An incisive and devastating critique of capitalism, sounding the alarm that the system poses a threat to human well-being.
Posted in Business & Economics

Global Capitalism: Its Fall and Rise in the Twentieth Century

Author: Jeffry A. Frieden

Publisher: W. W. Norton & Company

ISBN: 0393635775

Category: Business & Economics

Page: 576

View: 3098

"Magisterial history...one of the most comprehensive histories of modern capitalism yet written." —Michael Hirsh, New York Times Book Review In 1900 international trade reached unprecedented levels and the world's economies were more open to one another than ever before. Then as now, many people considered globalization to be inevitable and irreversible. Yet the entire edifice collapsed in a few months in 1914. Globalization is a choice, not a fact. It is a result of policy decisions and the politics that shape them. Jeffry A. Frieden's insightful history explores the golden age of globalization during the early years of the century, its swift collapse in the crises of 1914-45, the divisions of the Cold War world, and the turn again toward global integration at the end of the century. His history is full of character and event, as entertaining as it is enlightening.
Posted in Business & Economics

Global Great Depression and the Coming of World War II

Author: Alison Cook-Sather,John E Moser

Publisher: Routledge

ISBN: 1317259017

Category: Political Science

Page: 238

View: 6573

"The Global Great Depression and the Coming of World War II" demonstrates the ways in which the economic crisis of the late 1920s and early 1930s helped to cause and shape the course of the Second World War. Historian John E. Moser points to the essential uniformity in the way in which the world s industrialized and industrializing nations responded to the challenge of the Depression. Among these nations, there was a move away from legislative deliberation and toward executive authority; away from free trade and toward the creation of regional trading blocs; away from the international gold standard and toward managed national currencies; away from chaotic individual liberty and toward rational regimentation; in other words, away from classical liberalism and toward some combination of corporatism, nationalism, and militarism.For all the similarities, however, there was still a great divide between two different general approaches to the economic crisis. Those countries that enjoyed easy, unchallenged access to resources and markets the United States, Great Britain, the Soviet Union, and France tended to turn inward, erecting tariff walls and promoting domestic recovery at the expense of the international order. On the other hand, those nations that lacked such access Germany and Japan sought to take the necessary resources and markets by force. The interplay of these powers, then, constituted the dynamic of international relations of the 1930s: have-nots attempting to achieve self-sufficiency through aggressive means, challenging haves that were too distrustful of one another, and too preoccupied with their own domestic affairs, to work cooperatively in an effort to stop them."
Posted in Political Science

America's First Great Depression

Economic Crisis and Political Disorder after the Panic of 1837

Author: Alasdair Roberts

Publisher: Cornell University Press

ISBN: 0801464676

Category: History

Page: 264

View: 4305

For a while, it seemed impossible to lose money on real estate. But then the bubble burst. The financial sector was paralyzed and the economy contracted. State and federal governments struggled to pay their domestic and foreign creditors. Washington was incapable of decisive action. The country seethed with political and social unrest. In America's First Great Depression, Alasdair Roberts describes how the United States dealt with the economic and political crisis that followed the Panic of 1837. As Roberts shows, the two decades that preceded the Panic had marked a democratic surge in the United States. However, the nation's commitment to democracy was tested severely during this crisis. Foreign lenders questioned whether American politicians could make the unpopular decisions needed on spending and taxing. State and local officials struggled to put down riots and rebellion. A few wondered whether this was the end of America's democratic experiment. Roberts explains how the country's woes were complicated by its dependence on foreign trade and investment, particularly with Britain. Aware of the contemporary relevance of this story, Roberts examines how the country responded to the political and cultural aftershocks of 1837, transforming its political institutions to strike a new balance between liberty and social order, and uneasily coming to terms with its place in the global economy.
Posted in History

Global Slump

The Economics and Politics of Crisis and Resistance

Author: David McNally

Publisher: PM Press

ISBN: 1604860650

Category: Business & Economics

Page: 176

View: 5499

Investigating the global financial meltdown as the first systemic crisis of the neoliberal stage of capitalism, this analysis argues that—far from having ended—the crisis has ushered in a period of worldwide economic and political turbulence. In developing an account of the crisis as rooted in fundamental features of capitalism, this study challenges the view that capitalism's source lies in financial deregulation, and highlights the emergence of new patterns of world inequality and new centers of accumulation, particularly in East Asia, and the profound economic instabilities these have produced. This original account of the “financialization” of the world economy during this period explores the intricate connections between international financial markets and new forms of debt and dispossession. Analyzing the massive intervention of the world’s central banks to stave off another Great Depression, this study shows that while averting a complete meltdown, this intervention also laid the basis for recurring crises for poor and working class people: job loss, increased poverty and inequality, and cuts in social programs. Taking a global view of these processes, exposing the damage inflicted on countries in the Global South, as well as the intensification of racism and attacks on migrant workers, this book also traces new patterns of social and political resistance—from housing activism and education struggles, to mass strikes and protests in Martinique, Guadeloupe, France, and Puerto Rico—as indicators of the potential for building anticapitalist opposition to the damage that neoliberal capitalism is inflicting on the lives of millions.
Posted in Business & Economics

The Global Capitalist Crisis and Its Aftermath

The Causes and Consequences of the Great Recession of 2008-2009

Author: Professor Berch Berberoglu

Publisher: Ashgate Publishing, Ltd.

ISBN: 1472417275

Category: Social Science

Page: 350

View: 1862

Written by a team of experts on the contemporary global capitalist political economy, this ground-breaking volume provides critical analyses of the causes and consequences of the Great Recession of 2008-2009. Through a careful examination of the origin, development and aftermath of the catastrophic economic crisis, editor Berch Berberoglu and his colleagues demonstrate that those most responsible for the economic collapse are the ones least affected by its devastating impact.
Posted in Social Science

The G-20 Summit at Five

Time for Strategic Leadership

Author: Kemal Dervis,Peter Drysdale

Publisher: Brookings Institution Press

ISBN: 0815725922

Category: Business & Economics

Page: 302

View: 3160

Can the G-20 become a steering committee for the world's economy? Launched at a moment of panic triggered by the financial crisis in late 2008, the leaders' level G-20 is trying to evolve from crisis committee for the world economy to a real steering group facilitating international economic cooperation. What can and should such a "steering committee" focus on? How important could the concrete gains from cooperation be? How much faster could world growth be? Is there sufficient legitimacy in the G-20 process? How does the G-20 relate to the IMF and the World Bank? How can Australia in 2015, and then Turkey in 2016, chair the process so as to encourage strategic leadership? The East Asian Bureau of Economic Research in the Crawford School of Public Policy at the Australian National University and the Global Economy and Development program at the Brookings Institution joined forces in putting together this volume and asked opinion leaders and policymakers from G-20 countries to provide their independent perspectives. Contributors include Colin Bradford (Brookings), Peter Drysdale (Australian National University), Kemal Dervis (Brookings), Andrew Elek (Australian National University), Ross Garnaut (University of Melbourne), Huang Yiping (China Center for Economic Research), Bruce Jones (Brookings), Muneesh Kapur (IMF), Homi Kharas (Brookings), Wonhyuk Lim (Korea Development Institute), Rakesh Mohan (IMF), David Nellor (consultant, Indonesia), Yoshio Okubo (Japan Securities Dealers Association), Mari Pangestu (Republic of Indonesia), Changyong Rhee (former Asian Development Bank), Alok Sheel (Government of India), Mahendra Siregar (Republic of Indonesia), Paola Subacchi (Chatham House, London), Carlos Vegh (Brookings), Guillermo Vuletin (Brookings), and Maria Monica Wihardja (World Bank).
Posted in Business & Economics

Mexicano and Latino Politics and the Quest for Self-Determination

What Needs to Be Done

Author: Armando Navarro

Publisher: Lexington Books

ISBN: 0739197363

Category: Political Science

Page: 670

View: 6736

This book critically examines the current status of Mexicano and Latino Politics in the United States and how both represent a dysfunctional and failed mode of politics. Two change models are provided as alternatives: Aztlán’s Politics of a Nation-Within-a-Nation (APNWN) and Aztlán’s Politics of Separatism (APS).
Posted in Political Science

Cannibal Capitalism

How Big Business and The Feds Are Ruining America

Author: Michael Hill

Publisher: John Wiley & Sons

ISBN: 111817531X

Category: Business & Economics

Page: 220

View: 9474

"People, regular people, many of whom have never shown a previous interest in economics are now eager to understand this economy. The country is now facing the biggest economic collapse since the Great Depression. It affects everyone, not merely investors, bankers, economists, and the rest of the business class. People who have lived their lives by the rules and who are usually unaffected by recessions have been hurt and they want to know why. Many are hot mad that the government must intervene in behalf of those they perceive as crooks who swindled the nation, and yet they are afraid that their home will continue to erode in value, their retirement fund will be further emaciated, and their job may be lost. Angry, afraid, and confused, regular people are looking for answers. The book takes a thoughtful look at how income and wealth disparity, industry consolidation, anticompetitive business practices, political ideological extremism, and the hoarding of existing wealth are destroying the wealth building capacity of the nation, the promise of ideal capitalism"--
Posted in Business & Economics

Trump in the White House

Tragedy and Farce

Author: John Bellamy Foster

Publisher: NYU Press

ISBN: 1583676813

Category: Political Science

Page: 144

View: 9760

Posted in Political Science

The System Worked

How the World Stopped Another Great Depression

Author: Daniel W. Drezner

Publisher: Oxford University Press

ISBN: 0190263393

Category: Economic history

Page: 288

View: 1665

International institutions, from the International Monetary Fund to the International Olympic Committee, are perceived as bastions of sclerotic mediocrity at best and outright corruption at worst, and this perception is generally not far off the mark. In the wake of the 2008 financial crash, Daniel W. Drezner, like so many others, looked at the smoking ruins of the global economy and wondered why global economic governance structure had failed so spectacularly, and what could be done to reform them in the future. But then a funny thing happened. As he surveyed their actions in the wake of the crash, he realized that the evidence pointed to the exact opposite conclusion: global economic governance had succeeded. In The System Worked, Drezner, a renowned political scientist and international relations expert, contends that despite the massive scale and reverberations of this latest crisis (larger, arguably, than those that precipitated the Great Depression), the global economy has bounced back remarkably well. Examining the major resuscitation efforts by the G-20 IMF, WTO, and other institutions, he shows that, thanks to the efforts of central bankers and other policymakers, the international response was sufficiently coordinated to prevent the crisis from becoming a full-fledged depression. Yet the narrative about the failure of multilateral economic institutions persists, both because the Great Recession affected powerful nations whose governments managed their own economies poorly, and because the most influential policy analysts who write the books and articles on the crisis hail from those nations. Nevertheless, Drezner argues, while it's true that the global economy is still fragile, these institutions survived the "stress test" of the financial crisis, and may have even become more resilient and valuable in the process. Bucking the conventional wisdom about the new "G-Zero World," Drezner rehabilitates the image of the much-maligned international institutions and demolishes some of the most dangerous myths about the financial crisis. The System Worked is a vital contribution to our understanding of an area where the stakes could not be higher.
Posted in Economic history

Crises of Global Economy and the Future of Capitalism

An Insight into the Marx's Crisis Theory

Author: Kiichiro Yagi,Nobuharu Yokokawa,Hagiwara Shinjiro,Gary Dymski

Publisher: Routledge

ISBN: 1135101655

Category: Business & Economics

Page: 296

View: 9197

Recent events in the global financial markets and macro economies have served as a strong reminder for a need of a coherent theory of capitalist crisis and analysis. This book helps to fill the gap with well-grounded alternative articulations of the forces which move today's economic dynamics, how they interact and how ideas of foundational figures in economic theory can be used to make sense of the current predicament. The book presents a comprehensive collection of reflections on the origins, dynamics and implications of the interlinked crises of the U.S. and global economies. The book is a thoughtful collaboration between Japanese heterodox economists of the Japan Society of Political Economy (JSPE) and non-Japanese scholars. It provides a unique immersion in different, sophisticated approaches to political economy and to the crisis. The book illustrates with the understanding of Marx's crisis theory and how it can serve as a powerful framework for analyzing the contemporary sub-prime world crisis. The book explains the subprime loan crisis as a crisis in a specific phase of the capitalist world system and concludes that it is a structural one which destroys the existing capital accumulation regime. It pays attention to structural changes and to how these changes beget profound and controversial consequences. The result is a must-read - one which truly contributes to the resurgence of radical analyses of the political economy, free from the market optimism of the main-stream economics.
Posted in Business & Economics

The Crisis of Capitalist Democracy

Author: Richard A. Posner

Publisher: Harvard University Press

ISBN: 9780674055742

Category: Business & Economics

Page: 402

View: 1387

Judge Posner continues to react to the current economic crisis and reflect upon the impact on our views and reliance on capitalism. Posner helps non-technical readers understand business-cycle and financial economics, and financial and governmental institutions, practices, and transactions, while maintaining a neutrality impossible for persons professionally committed to one theory or another.
Posted in Business & Economics

Latin America and Global Capitalism

A Critical Globalization Perspective

Author: William I. Robinson

Publisher: JHU Press

ISBN: 0801896363

Category: Political Science

Page: 444

View: 5172

This ambitious volume chronicles and analyzes from a critical globalization perspective the social, economic, and political changes sweeping across Latin America from the 1970s through the present day. Sociologist William I. Robinson summarizes his theory of globalization and discusses how Latin America’s political economy has changed as the states integrate into the new global production and financial system, focusing specifically on the rise of nontraditional agricultural exports, the explosion of maquiladoras, transnational tourism, and the export of labor and the import of remittances. He follows with an overview of the clash among global capitalist forces, neoliberalism, and the new left in Latin America, looking closely at the challenges and dilemmas resistance movements face and their prospects for success. Through three case studies—the struggles of the region's indigenous peoples, the immigrants rights movement in the United States, and the Bolivarian Revolution in Venezuela—Robinson documents and explains the causes of regional socio-political tensions, provides a theoretical framework for understanding the present turbulence, and suggests possible outcomes to the conflicts. Based on years of fieldwork and empirical research, this study elucidates the tensions that globalization has created and shows why Latin America is a battleground for those seeking to shape the twenty-first century’s world order. -- Sean Burges
Posted in Political Science

The Return of Depression Economics and the Crisis of 2008

Author: Paul R. Krugman

Publisher: W. W. Norton & Company

ISBN: N.A

Category: Business & Economics

Page: 191

View: 727

Looks at financial crises that have plagued various economies around the world and uses this information to interpret today's financial upheaval and its implications for the future.
Posted in Business & Economics

Business as Usual

The Economic Crisis and the Failure of Capitalism

Author: Paul Mattick

Publisher: Reaktion Books

ISBN: 1861899823

Category: Business & Economics

Page: 126

View: 6102

The recent global economic downturn has affected nearly everyone in every corner of the globe. Its vast reach and lingering effects have made it difficult to pinpoint its exact cause, and while some economists point to the risks inherent in the modern financial system, others blame long-term imbalances in the world economy. Into this debate steps Paul Mattick, who, in Business as Usual, explains the global economic downturn in relation to the development of the world economy since World War II, but also as a fundamental example of the cycle of crisis and recovery that has characterized capitalism since the early nineteenth century. Mattick explains that today’s recession is not the result of a singular financial event but instead is a manifestation of long-term processes within the world economy. Mattick argues that the economic downturn can best be understood within the context of business cycles, which are unavoidable in a free-market economy. He uses this explanation as a springboard for exploring the nature of our capitalist society and its prospects for the future. Although Business as Usual engages with many economic theories, both mainstream and left-wing, Mattick’s accessible writing opens the subject up in order for non-specialists to understand the current economic climate not as the effect of a financial crisis, but as a manifestation of a truth about the social and economic system in which we live. As a result the book is ideal for anyone who wants to gain a succinct and jargon-free understanding of recent economic events, and, just as important, the overall dynamics of the capitalist system itself.
Posted in Business & Economics