Global Capitalist Crisis and the Second Great Depression PDF Download

Author: Armando Navarro
Publisher: Lexington Books
ISBN: 0739170163
Category : Business & Economics
Languages : en
Pages : 453

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Book Description
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.

Author: Michael Roberts
Publisher: Haymarket Books
ISBN: 1608465071
Category : Business & Economics
Languages : en
Pages : 380

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Book Description
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.

Author: Michel Chossudovsky
Publisher:
ISBN: 9780973714739
Category : Business & Economics
Languages : en
Pages : 391

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Book Description
In all major regions of the world, the economic recession is deep-seated, resulting in mass unemployment, the collapse of state social programs and the impoverishment of millions of people. The meltdown of financial markets was the result of institutionalized fraud and financial manipulation. The economic crisis is accompanied by a worldwide process of militarization, a "war without borders" led by the U.S. and its NATO allies. This book takes the reader through the corridors of the Federal Reserve, into the plush corporate boardrooms on Wall Street where far-reaching financial transactions are routinely undertaken. Each of the authors in this timely collection digs beneath the gilded surface to reveal a complex web of deceit and media distortion which serves to conceal the workings of the global economic system and its devastating impacts on people's lives.

Author: Alasdair Roberts
Publisher: Cornell University Press
ISBN: 080146420X
Category : History
Languages : en
Pages : 264

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Book Description
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.

Author: Harry Magdoff
Publisher: NYU Press
ISBN: 0853455740
Category : Social Science
Languages : en
Pages : 223

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Book Description
Response to financial meltdown is entangled with basic challenges to global governance. Environment, global security and ethnicity and nationalism are all global issues today. Focusing on the political and social dimensions of the crisis, contributors examine changes in relationships between the world’s richer and poorer countries, efforts to strengthen global institutions, and difficulties facing states trying to create stability for their citizens.

Author: David McNally
Publisher: PM Press
ISBN: 1604860650
Category : Business & Economics
Languages : en
Pages : 289

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Book Description
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.

Author: Jack Rasmus
Publisher: Pluto Press (UK)
ISBN:
Category : Business & Economics
Languages : en
Pages : 356

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Book Description
Epic Recession explains the origins and future direction of the current economic crisis, and the relationships between the banking system's breakdown and the economy in general. Jack Rasmus describes how Epic Recession is highly resistant to traditional fiscal and monetary policy solutions and requires major structural changes in the economy in order to check and contain. The book analyzes in depth the origins and causes of Epic Recession—revealing its roots in corporate and government policies and fundamental structural changes in U.S. capitalist economy since the early 1980s. Epic Recession explains how the current economic crisis is similar to, and simultaneously different from, both the Great Depression of 1929-1934 and post-1945 recessions in the U.S. It categorizes Epic Recessions in two dominant forms: ‘Type I’ and ‘Type II’: The former similar to events of 1907-1914; the latter to events of 1929-1931. Rasmus argues today’s current crisis is evolving into a ‘Type I’, but has the potential for transforming into a ‘Type II’ and that 2011-2013 will be a critical period for determining which type will prevail. Epic Recession further provides a detailed critique of both George W. Bush and Obama administration recovery programs, in both their monetary and fiscal dimensions, and assesses why they have fared poorly thus far in resolving the crisis. The book concludes by presenting a full, thorough alternative program necessary for recovery.

Author: Barry Eichengreen
Publisher: Oxford University Press
ISBN: 0199392021
Category : Business & Economics
Languages : en
Pages : 521

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Book Description
The two great financial crises of the past century are the Great Depression of the 1930s and the Great Recession, which began in 2008. Both occurred against the backdrop of sharp credit booms, dubious banking practices, and a fragile and unstable global financial system. When markets went into cardiac arrest in 2008, policymakers invoked the lessons of the Great Depression in attempting to avert the worst. While their response prevented a financial collapse and catastrophic depression like that of the 1930s, unemployment in the U.S. and Europe still rose to excruciating high levels. Pain and suffering were widespread. The question, given this, is why didn't policymakers do better? Hall of Mirrors, Barry Eichengreen's monumental twinned history of the two crises, provides the farthest-reaching answer to this question to date. Alternating back and forth between the two crises and between North America and Europe, Eichengreen shows how fear of another Depression following the collapse of Lehman Brothers shaped policy responses on both continents, with both positive and negative results. Since bank failures were a prominent feature of the Great Depression, policymakers moved quickly to strengthen troubled banks. But because derivatives markets were not important in the 1930s, they missed problems in the so-called shadow banking system. Having done too little to support spending in the 1930s, governments also ramped up public spending this time around. But the response was indiscriminate and quickly came back to haunt overly indebted governments, particularly in Southern Europe. Moreover, because politicians overpromised, and because their measures failed to stave off a major recession, a backlash quickly developed against activist governments and central banks. Policymakers then prematurely succumbed to the temptation to return to normal policies before normal conditions had returned. The result has been a grindingly slow recovery in the United States and endless recession in Europe. Hall of Mirrors is both a major work of economic history and an essential exploration of how we avoided making only some of the same mistakes twice. It shows not just how the "lessons" of Great Depression history continue to shape society's response to contemporary economic problems, but also how the experience of the Great Recession will permanently change how we think about the Great Depression.

Author: Siyavush Saidian
Publisher: Greenhaven Publishing LLC
ISBN: 1534561323
Category : Juvenile Nonfiction
Languages : en
Pages : 106

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Book Description
The Great Depression was a difficult time in American history, and it eventually became an economic crisis that affected the entire world. Readers uncover important facts and enlightening details about the Great Depression, including what caused it, how average Americans dealt with financial hardships during this time, and what programs were created to get Americans back to work. As readers explore the detailed main text, engaging sidebars, and historical images, they gain a deeper understanding of the idea that one event in one country can have a ripple effect over the entire world.

Author: Armando Navarro
Publisher: Lexington Books
ISBN: 0739170171
Category : Political Science
Languages : en
Pages : 436

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Book Description
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.