A Political Economy Of Contemporary Capitalism And Its Crisis

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.

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.

This volume analyses contemporary capitalism and its crises based on a theory of capitalist evolution known as the social structure of accumulation (SSA) theory. It applies this theory to explain the severe financial and economic crisis that broke out in 2008 and the kind of changes required to resolve it. The editors and contributors make available new work within this school of thought on such issues as the rise and persistence of the "neoliberal," or "free-market," form of capitalism since 1980 and the growing globalization and financialization of the world economy. The collection includes analyses of the U.S. economy as well as that of several parts of the developing world.

The present volume makes students and researchers familiar with contemporary issues in global political economy with a focus on the working of global capitalism in the last four to five decades. The volume covers a wide range of issues from conceptual questions to empirical investigation with the aim to promote a critical understanding of the major challenges posed by contemporary capitalism. It contains contributions of leading political economists from India and abroad. The volume will be a significant resource for developing a graduate course in global political economy. This book is co-published with Aakar Books, New Delhi. Taylor & Francis does not sell or distribute the print versions of this book in India, Pakistan, Nepal, Bhutan, Bangladesh and Sri Lanka.

This is a book about capitalism. To be more specific, it is about the most recent phase or stage of capitalist development, that is, neoliberal globalization. Neoliberalism, as much a political project as an economic one, is still pervasive, and it continues to provide the general framework for politics and political imagination across most of the globe. This volume brings together a group of valuable scholars from different parts of the world looking at the impact of neoliberalism on our societies. And, as such, it aspires to contribute as much to the critique and overcoming of this process as to its analysis. With its extensive coverage, both geographically and thematically, this book will be of interest for students of the social sciences as well as for anyone who makes an effort to understand and change the world in which she lives. Baris Karaagac is a lecturer in the Department of International Development Studies at Trent University, Canada.ò

This volume reassesses the nature of the current global economic crisis and its implication for the 21st century, through the unique lens of Marx's theory of the value-form as the unconscious matrix of modern society. Going beyond orthodox Marxist and postmodernist accounts, the author offers fresh new readings of Marx, Benjamin, Foucault, and Žižek. Here he argues that capitalism has not only entered its greatest crisis since WWII, but has in fact reached its historical limit and is in terminal decline. In this light, the book seeks to answer how a rerun of Keynesian regulations could possibly resolve the crisis. It also inquires as to whether a Green New Deal might succeed when the gap between work to be had and work to be done widens, and what alternatives neo-Marxian approaches offer considering the failure of Marxism in the 20th century. This far-reaching, critical examination of the crisis not only builds on critical theory, but also offers new readings of key theorists that will appeal to anyone interested in political theory, critical theory, and political economy.