The Crash of International Finance-Capital and Its Implications for the Third World

In this updated 2nd edition, Nabudere analyses the 2007–08 crash with a damning critique of a defunct system that bails out those responsible while the rest of humanity – especially the majority in the Third World – suffers its devastating consequences.

Although the first edition was published in 1989 before the collapse of the Soviet Union, the analysis of the causes of the periodic crisis of capitalism is as relevant today as it was 20 years ago. In this second edition, the author provides an updated analysis of the crash of international finance-capital of 2007–2008 and draws out the likely implications for the Third World, a perspective that has received little attention elsewhere. This book is a damning critique of a system that has paid trillions of dollars to bail out international banks and financial institutions, the very institutions that were responsible tor creating the crash, while the rest of humanity—especially the majority in the Third World—suffers its devastating consequences. Nabudere argues that capitalism has lost all moral and ethical claims to be a means for progress and that it is an indefensible system.

Although the first edition was published in 1989 before the collapse of the Soviet Union, the analysis of the causes of the periodic crisis of capitalism is as relevant today as it was 20 years ago. In this second edition, the author provides an updated analysis of the crash of international finance-capital of 2007#x96;2008 and draws out the likely implications for the Third World, a perspective that has received little attention elsewhere. This book is a damning critique of a system that has paid trillions of dollars to bail out international banks and financial institutions, the very institutions that were responsible tor creating the crash, while the rest of humanity#x97;especially the majority in the Third World#x97;suffers its devastating consequences. Nabudere argues that capitalism has lost all moral and ethical claims to be a means for progress and that it is an indefensible system Although the first edition was published in 1989 before the collapse of the Soviet Union, the analysis of the causes of the periodic crisis of capitalism is as relevant today as it was 20 years ago. In this second edition, the author provides an updated analysis of the crash of international finance-capital of 2007–2008 and draws out the likely implications for the Third World, a perspective that has received little attention elsewhere. This book is a damning critique of a system that has paid trillions of dollars to bail out international banks and financial institutions, the very institutions that were responsible tor creating the crash, while the rest of humanity, especially the majority in the Third World, suffers its devastating consequences. Nabudere argues that capitalism has lost all moral and ethical claims to be a means for progress and that it is an indefensible system Annotation. The first edition of this book analyzed the financial crisis of 1987. Professor Nabudere's analysis of the causes of that crisis has extraordinary parallels with the contemporary financial and economic meltdown that has caused panic in the West and devastated the lives of millions in the Third World. In material added to this second edition, Nabudere analyzes the 20072008 financial crash and draws out the likely implications for the Third World, a perspective that has received little attention elsewhere