Download or read book Marxism and the Global Financial Crisis written by Hillel Ticktin and published by Routledge. This book was released on 2013-09-13 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book discusses the nature of Marxist theory of crisis and applies it to the global financial crisis which began in 2007. Is the contemporary crisis simply the usual periodic upturn and downturn or is there something more fundamental? Is there a structural crisis of capitalism, from which there is no immediate solution? Is capitalism managed and does it have a strategy? Is the financial crisis representative of a failure in capitalism itself to subject banks and other financial institutions to the overall economy? The book discusses Marx’s view on crises, as well as ideas on money and finance. It considers the different modern Marxist ideas on the causes of crises – falling rate of profit, disproportionality and underconsumption. It goes into detail as to the nature of the present crisis, its course and causes in a spirited and independent manner. Apart from the United States, it considers the situation in the two countries, in which protests erupted: Iran and Greece. They are taken as examples of the effect of the crisis on the country, the society and the economy as well as its politics. This book was originally published as a special issue of Critique.

Download or read book The Long Depression written by Michael Roberts and published by Haymarket Books. This book was released on 2016-09-01 with total page 362 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book World in Crisis written by Guglielmo Carchedi and published by Haymarket Books. This book was released on 2018-10-01 with total page 478 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most mainstream economists view capitalism’s periodic breakdowns as nothing more than temporary aberrations from an otherwise unbroken path toward prosperity. For Marxists, this fundamental flaw has long been acknowledged as a central feature of the free-market system. This groundbreaking volume brings together Marxist scholars from around the world to offer an empirically grounded defense of Marx’s law of profitability and its central role in explaining capitalist crises. “World in Crisis has a specific aim: to provide empirical validity to the hypothesis that the cause of recurring economic crises or slumps in output, investment, and employment in modern economies can be found in Marx’s law of the tendential fall in the rate of profit. Marx believed, and we agree, that this is ‘the most important law in political economy.’” —from the preface

Download or read book Crises of Global Economies and the Future of Capitalism written by Kiichiro Yagi and published by Routledge. This book was released on 2013-01-04 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book The Political Economy of Global Capitalism and Crisis written by Bill Dunn and published by Routledge. This book was released on 2014-03-21 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book provides a theoretically and historically informed analysis of the global economic crisis. It makes original contributions to theories of value, of crisis and of the state and uses these to develop a rich empirical study of the changing character of capitalism in the twentieth century and beyond. It defends, uses and develops Marxist theory while arguing particularly against jumping too quickly from abstract concepts to a concrete understanding of the crisis. Instead, it uses what Marx described in his notebooks as an ‘obvious’ analytical ordering to progress from a general analysis of economy and society to a discussion of recent economic transformations and the specifics of the crisis and its aftermath.Dunn argues that appropriately reconceived, a critical Marxism can incorporate and enrich rather than rejecting insights from other traditions. He disputes general characterisations of capitalism to the crisis and theories which see finance and the contemporary financial crises as largely detached from other aspects of the economy and society. Providing a thoroughly socialised and historically based account, this book will be vital reading for students and scholars of political economy, international political economy, Marxism, sociology, geography and development studies.

Download or read book A World to Win written by Sven-Eric Liedman and published by Verso Books. This book was released on 2018-04-17 with total page 902 pages. Available in PDF, EPUB and Kindle. Book excerpt: Karl Marx has fascinated and inspired generations of radicals in the past 200 years. In this new, definitive biography, Sven-Eric Liebman makes his work live once more for a new generation. Despite 200 years having passed since his birth, his burning condemnation of capitalism remains of immediate interest. Now, more than ever before, Marx's texts can be read for what they truly are. In addition to providing a living picture of Marx the man, his life, and his family and friends - as well as his lifelong collaboration with Friedrich Engels - Sweden's leading intellectual historian Sven-Eric Liedman, in this major new biography, shows what Karl Marx the thinker and researcher really wrote, demonstrating that this giant of the nineteenth century can still exert a powerful attraction for the inhabitants of the twenty-first.

Download or read book Zombie Capitalism written by Chris Harman and published by Haymarket Books. This book was released on 2010 with total page 426 pages. Available in PDF, EPUB and Kindle. Book excerpt: We've been told for years that the capitalist free market is a self-correcting perpetual growth machine in which sellers always find buyers, precluding any major crisis in the system. Then the credit crunch of August 2007 turned into the great crash of September–October 2008, leading one apologist for the system, Willem Buiter, to write of "the end of capitalism as we knew it." As the crisis unfolded, the world witnessed the way in which the runaway speculation of the "shadow" banking system wreaked havoc on world markets, leaving real human devastation in its wake. Faced with the financial crisis, some economic commentators began to talk of "zombie banks"–financial institutions that were in an "undead state" and incapable of fulfilling any positive function but a threat to everything else. What they do not realize is that twenty-first century capitalism as a whole is a zombie system, seemingly dead when it comes to achieving human goals.

Download or read book Crises Profit and Exploitation written by Sami Butko and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis explores the relationship between capitalism and exploitation in wake of the 2007-08 global financial crisis and subsequent economic recessions among the world's most advanced capitalist nations. Starting from the position that not enough theoretical work has been done, particularly within criminology, to analyze the harms caused by crises in capitalism, I argue that a structural-Marxist framework can help fill this gap in the literature. By building a theoretical model based on Karl Marx's original work on crises in capitalism, the structuralism of Louis Althusser, and as the philosophical materialism of David Harvey, I examine the ways in which the global financial crisis is not the unexpected event mainstream narratives maintain, but rather one that has been over a century in the making. On an empirical level, drawing insight from the Greek financial crisis, the model proposed is deployed to analyze the role that international financial institutions have had in the recent crisis and draw a link between these patterns and the status of modern capitalism, suggesting that the economic trauma we face now is intimately linked to the predisposition of capital (re)production and accumulation. This thesis ultimately underlines the fact that while we are governed by this 'new', more aggressive capitalism, it is also 'the same' in that Marx's insights regarding the contradictions of capital accumulation are equally applicable today as they were in his time.

Download or read book Crises of Global Economies and the Future of Capitalism written by Kiichirō Yagi and published by . This book was released on 2012-12-01 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Download or read book Global Slump written by David McNally and published by PM Press. This book was released on 2010-12-09 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global Slump analyzes the global financial meltdown as the first systemic crisis of the neoliberal stage of capitalism. It argues that—far from having ended—the crisis has ushered in a whole period of worldwide economic and political turbulence. In developing an account of the crisis as rooted in fundamental features of capitalism, Global Slump challenges the view that its source lies in financial deregulation. The book locates the recent meltdown in the intense economic restructuring that marked the recessions of the mid-1970s and early 1980s. Through this lens, it highlights the emergence of new patterns of world inequality and new centers of accumulation, particularly in East Asia, and the profound economic instabilities these produced. Global Slump offers an original account of the “financialization” of the world economy during this period, and explores the intricate connections between international financial markets and new forms of debt and dispossession, particularly in the Global South. Analyzing the massive intervention of the world’s central banks to stave off another Great Depression, Global Slump 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 deep cuts to social programs. The book takes 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. At the same time, Global Slump 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 anti-capitalist opposition to the damage that neoliberal capitalism is inflicting on the lives of millions.

Download or read book Marx and Modernity written by Marina L. Alpidovskaya and published by IAP. This book was released on 2019-08-01 with total page 653 pages. Available in PDF, EPUB and Kindle. Book excerpt: May 5, 2018 marked the 200th anniversary of the birth of Karl Heinrich Marx, German scientist, philosopher, economist, and sociologist. His creative genius created a system-functional model of contemporary society, defined its socio-economic character, and formulated scientific and philosophical approaches for its cognition. Marx also developed methodological clues for identifying and substantiating the economic nature of phenomena, processes and the socio-economic relations that mediate them, which are of critical relevance today. Before Marx, political economy was an eclectic combination of separate theories and concepts espoused by various philosophers. Marx was able to transform the field into a coherent science with a single systemic approach. Today, the generally recognized economic mainstream has no way of explaining in detail the causes of the ongoing global economic crisis. However, it is generally accepted that modern Marxist legacy researchers have advantages in their analyses. They believe that at the start of the 21st century capitalism does not tend to self-destruct. However, its failings are more and more clearly manifested. They believe that the capitalist system has not outlived its weaknesses, and the old bourgeois financiers have not been replaced, as was necessary, by a generation of new leaders armed with new methods of management and capable of coming up with solutions to current problems. The philosophical underpinnings of the capitalist economic system have laid a time bomb under the whole ideology of capitalism. Capitalism as a development system ceases to exist. The truth, which was found in the past writings of Marx, cannot be completely rejected, nor should it be venerated as a museum exhibit. This book is aimed at reactivating fundamental political and economic studies on the rules and functioning of the global geo-economic system from the point of view of a modern interpretation of Karl Marx's concept of objective processes in the conditions of the current systemic crisis of capitalism.

Download or read book Global Capitalism in Crisis written by Murray E. G. Smith and published by . This book was released on 2011 with total page 179 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The world economy is currently experiencing a devastating slump not seen since the Second World War. Unemployment rates are skyrocketing and salaries are plummeting in the developed world, while astronomical food prices and starvation ravage the developing world. The crisis in global capitalism, Smith argues, should be understood as both a composite crisis of overproduction, credit and finance, and a deep-seated systemic crisis. Using Marx to analyze the origins, implications and scope of the current economic slump, this book argues that the crisis needs to be understood structurally, as the result of a system prone to crisis, rather than as an aberration."--Publisher's website.

Download or read book Marx 2020 written by Ronaldo Munck and published by Bloomsbury Publishing. This book was released on 2016-08-15 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2008 financial crisis revitalised the question of whether capitalism was working and how it might be overturned. More recently, the growth of new social movements across the globe are posing a threat to the economic and political status quo, with Marxist ideas rejuvenated for the 21st century. In this provocative and critically engaged introduction, Ronaldo Munck applies Marx's theories to the most pressing issues of our times: the environmental crisis, austerity, international development, religion, nationhood, the role of women and LGBTQ+ communities. Crucially, he shows the far-reaching contribution Marx can make to both contemporary debate and political action. Accessible and wide-ranging, Marx 2020 is essential reading for anyone interested in the state of the modern world and the ideas needed for effective change.

Download or read book An Introduction to the Three Volumes of Karl Marx s Capital written by Michael Heinrich and published by NYU Press. This book was released on 2012-06-01 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economic crisis and recession that began in 2008 had at least one unexpected outcome: a surge in sales of Karl Marx's Capital. Although mainstream economists and commentators once dismissed Marx's work as outmoded and flawed, some are begrudgingly acknowledging an analysis that sees capitalism as inherently unstable. And of course, there are those, like Michael Heinrich, who have seen the value of Marx all along, and are in a unique position to explain the intricacies of Marx's thought. Heinrich's modern interpretation of Capital is now available to English-speaking readers for the first time. It has gone through nine editions in Germany, is the standard work for Marxist study groups, and is used widely in German universities. The author systematically covers all three volumes of Capital and explains all the basic aspects of Marx's critique of capitalism in a way that is clear and concise. He provides background information on the intellectual and political milieu in which Marx worked, and looks at crucial issues beyond the scope of Capital, such as class struggle, the relationship between capital and the state, accusations of historical determinism, and Marx's understanding of communism. Uniquely, Heinrich emphasizes the monetary character of Marx's work, in addition to the traditional emphasis on the labor theory of value, this highlighting the relevance of Capital to the age of financial explosions and implosions.

Download or read book A Political Economy of Contemporary Capitalism and its Crisis written by Dimitris P Sotiropoulos and published by Routledge. This book was released on 2013-06-19 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: The recent financial meltdown and the resulting global recession have rekindled debates regarding the nature of contemporary capitalism. This book analyses the ongoing financialization of the economy as a development within capitalism, and explores the ways in which it has changed the organization of capitalist power. The authors offer an interpretation of the role of the financial sphere which displays a striking contrast to the majority of contemporary heterodox approaches. Their interpretation stresses the crucial role of financial derivatives in the contemporary organization of capitalist power relations, arguing that the process of financialization is in fact entirely unthinkable in the absence of derivatives. The book also uses Marx’s concepts and some of the arguments developed in the framework of the historic Marxist controversies on economic crises in order to gain an insight into the modern neoliberal form of capitalism and the recent financial crisis. Employing a series of international case studies, this book will be essential reading for all those with an interest in the financial crisis, and all those seeking to comprehend the workings of capitalism.

Download or read book Capitalism s Crisis Deepens written by Richard D. Wolff and published by Haymarket Books. This book was released on 2016-05-30 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: “The leading socialist economist in the country” explores the roots of the Great Recession and its immense impact on working people (Cornel West). While most mainstream commentators view the crisis that provoked the Great Recession as having passed, these essays from Richard Wolff paint a far less rosy picture. Drawing attention to the extreme downturn in most of capitalism’s old centers, the unequal growth in its new centers, and the resurgence of a global speculative bubble, Wolff—in his uniquely accessible style—makes the case that the crisis should be grasped not as a passing moment, but as an evolving stage in capitalism’s history. Praise for Richard Wolff and Democracy at Work “Probably America’s most prominent Marxist economist.” —The New York Times Magazine “Richard Wolff’s constructive and innovative ideas suggest new and promising foundations for much more authentic democracy and sustainable and equitable development, ideas that can be implemented directly and carried forward. A very valuable contribution in troubled times.” —Noam Chomsky “Wolff offers a rich and much-needed corrective to the views of mainstream economists and pundits. It would be difficult to come away from this with anything but an acute appreciation of what is needed to get us out of this mess.” —Stanley Aronowitz “Bold, thoughtful, transformative—a powerful and challenging vision that takes us beyond both corporate capitalism and state socialism. Richard Wolff at his best!” —Gar Alperovitz

Download or read book Marxism and the Global Financial Crisis written by Hillel Ticktin and published by Routledge. This book was released on 2013-09-13 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book discusses the nature of Marxist theory of crisis and applies it to the global financial crisis which began in 2007. Is the contemporary crisis simply the usual periodic upturn and downturn or is there something more fundamental? Is there a structural crisis of capitalism, from which there is no immediate solution? Is capitalism managed and does it have a strategy? Is the financial crisis representative of a failure in capitalism itself to subject banks and other financial institutions to the overall economy? The book discusses Marx’s view on crises, as well as ideas on money and finance. It considers the different modern Marxist ideas on the causes of crises – falling rate of profit, disproportionality and underconsumption. It goes into detail as to the nature of the present crisis, its course and causes in a spirited and independent manner. Apart from the United States, it considers the situation in the two countries, in which protests erupted: Iran and Greece. They are taken as examples of the effect of the crisis on the country, the society and the economy as well as its politics. This book was originally published as a special issue of Critique.