Global Slump: The Economics and Politics of Crisis and Resistance (Spectre)

David Mcnally's Tremendously Timely Book Is Packed With Significant Theoretical And Practical Insights, And Offers Actually Existing Examples Of What Is To Be Done. Global Slump Urgently Details How Changes In The Capitalist Space-economy Over The Past 25 Years, Especially In The Forms That Money Takes, Have Expanded Wide-scale Vulnerabilities For All Kinds Of People, And How People Fight Back. In A Word, The Problem Isn't Neoliberalism-it's Capitalism.--ruth Wilson Gilmore, Author Of Golden Gulag: Prisons, Surplus, Crisis, And Opposition In Globalizing California. Global Slump Analyzes The World 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. It Offers An Original Account Of The Financialization Of The World Economy And Explores The Connections Between International Financial Markets And New Forms Of Debt And Dispossession, Particularly In The Global South. The Book Shows That, While Averting A Complete Meltdown, The Massive Intervention By Central Banks Laid The Basis For Recurring Crises For Poor And Working Class People. It Traces New Patterns Of Social Resistance For Building An Anticapitalist Opposition To The Damage That Neoliberal Capitalism Is Inflicting On The Lives Of Millions. In This Book, Mcnally Confirms--once Again--his Standing As One Of The World's Leading Marxist Scholars Of Capitalism. For A Scholarly, In-depth Analysis Of Our Current Crisis That Never Loses Sight Of Its Political Implications (for Them And For Us), Expressed In A Language That Leaves No Reader Behind, There Is Simply No Better Place To Go.--bertell Ollman, Professor, Nyu, And Author Of Dance Of The Dialectic: Steps In Marx's Method --book Jacket. 1. The Great Panic Of 2008 -- 2. The Day The Music Died: Three Decades Of Neoliberalism -- 3. Manic Depression: Capitalism And Its Recurring Crises -- 4. Financial Chaos: Money, Credit, And Instability In Late Capitalism -- 5. Debt, Discipline, And Dispossession: Race, Class, And The Global Slump -- 6. Toward A Great Resistance? David Mcnally. Includes Bibliographical References. "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"--EBL book details. Annotation McNally analyses the global financial crisis as the first systematic crisis of the neo-liberal stage of capitalism and argues that far from having ended, the crisis has ushered in a new period of worldwide economic and political turbulence. Taking crisis as a fundamental feature of capitalism, he challenges the common view that its source lies in financial deregulation. Whilst averting a complete meltdown, the intervention by central banks laid the basis for recurring crises for poor and working class people. McNally also traces the new patterns in anti-capitalist action Praise for Global Slump Copyright Dedication Contents Preface and Acknowledgements Introduction: The Mutating Crisis of Global Capitalism chapter one: The Great Panic of 2008 chapter two: The Day the Music Died: Three Decades of Neoliberalism chapter three: Manic Depression: Capitalism and its Recurring Crises chapter four: Financial Chaos: Money, Credit, and Instability in Late Capitalism chapter five: Debt, Discipline, and Dispossession: Race, Class, and the Global Slump chapter six: Toward a Great Resistance? Conclusion Glossary Notes Index