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Author: Gérard Duménil
Publisher: Harvard University Press
ISBN: 0674049888
Category : Business & Economics
Languages : en
Pages : 400
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Book Description
This book examines “the great contraction” of 2007–2010 within the context of the neoliberal globalization that began in the early 1980s. This new phase of capitalism greatly enriched the top 5 percent of Americans, including capitalists and financial managers, but at a significant cost to the country as a whole. Declining domestic investment in manufacturing, unsustainable household debt, rising dependence on imports and financing, and the growth of a fragile and unwieldy global financial structure threaten the strength of the dollar. Unless these trends are reversed, the authors predict, the U.S. economy will face sharp decline.Summarizing a large amount of troubling data, the authors show that manufacturing has declined from 40 percent of GDP to under 10 percent in thirty years. Since consumption drives the American economy and since manufactured goods comprise the largest share of consumer purchases, clearly we will not be able to sustain the accumulating trade deficits.Rather than blame individuals, such as Greenspan or Bernanke, the authors focus on larger forces. Repairing the breach in our economy will require limits on free trade and the free international movement of capital; policies aimed at improving education, research, and infrastructure; reindustrialization; and the taxation of higher incomes.
Author: Gérard Duménil
Publisher: Harvard University Press
ISBN: 0674049888
Category : Business & Economics
Languages : en
Pages : 400
Get Book Here
Book Description
This book examines “the great contraction” of 2007–2010 within the context of the neoliberal globalization that began in the early 1980s. This new phase of capitalism greatly enriched the top 5 percent of Americans, including capitalists and financial managers, but at a significant cost to the country as a whole. Declining domestic investment in manufacturing, unsustainable household debt, rising dependence on imports and financing, and the growth of a fragile and unwieldy global financial structure threaten the strength of the dollar. Unless these trends are reversed, the authors predict, the U.S. economy will face sharp decline.Summarizing a large amount of troubling data, the authors show that manufacturing has declined from 40 percent of GDP to under 10 percent in thirty years. Since consumption drives the American economy and since manufactured goods comprise the largest share of consumer purchases, clearly we will not be able to sustain the accumulating trade deficits.Rather than blame individuals, such as Greenspan or Bernanke, the authors focus on larger forces. Repairing the breach in our economy will require limits on free trade and the free international movement of capital; policies aimed at improving education, research, and infrastructure; reindustrialization; and the taxation of higher incomes.
Author: Hilary Appel
Publisher: Cambridge University Press
ISBN: 1108422292
Category : Political Science
Languages : en
Pages : 257
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Book Description
Explains the surprising endurance of neoliberal policymaking over two decades in post-Communist countries, from 1989-2008, and its decline after the financial crash.
Author: Philip Mirowski
Publisher: Verso Books
ISBN: 1781683026
Category : Political Science
Languages : en
Pages : 497
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Book Description
At the onset of the Great Recession, as house prices sank and joblessness soared, many commentators concluded that the economic convictions behind the disaster would now be consigned to history. Yet in the harsh light of a new day, attacks against government intervention and the global drive for austerity are as strong as ever. Never Let a Serious Crisis Go to Waste is the definitive account of the wreckage of what passes for economic thought, and how neoliberal ideas were used to solve the very crisis they had created. Now updated with a new afterword, Philip Mirowski’s sharp and witty work provides a roadmap for those looking to escape today’s misguided economic dogma.
Author: Damien Cahill
Publisher: John Wiley & Sons
ISBN: 0745695566
Category : Business & Economics
Languages : en
Pages : 224
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Book Description
For over three decades neoliberalism has been the dominant economic ideology. While it may have emerged relatively unscathed from the global financial crisis of 2007-8, neoliberalism is now - more than ever - under scrutiny from critics who argue that it has failed to live up to its promises, creating instead an increasingly unequal and insecure world. This book offers a nuanced and probing analysis of the meaning and practical application of neoliberalism today, separating myth from reality. Drawing on examples such as the growth of finance, the role of corporate power and the rise of workfare, the book advances a balanced but distinctive perspective on neoliberalism as involving the interaction of ideas, material economic change and political transformations. It interrogates claims about the impending death of neoliberalism and considers the sources of its resilience in the current climate of political disenchantment and economic austerity. Clearly and accessibly written, this book will be a valuable resource for students and scholars across the social sciences.
Author: Alfredo Saad-Filho
Publisher: Springer Nature
ISBN: 3030816087
Category : Business & Economics
Languages : en
Pages : 246
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Book Description
This book offers an analysis of the causes, development, and likely consequences of the Covid-19 pandemic for global neoliberalism. The analysis will draw upon the author’s previous work on neoliberalism, and on its twin crises: the economic crisis (the Global Financial Crisis (GFC), ongoing since 2007) and, subsequently, the crisis of political democracy that has been associated with the rise of ‘spectacular’ authoritarian leaders in several countries. The approach is grounded on Marxist political economy. The book argues that the Covid-19 pandemic emerges out of this context of deep inequalities and crises in the economy and in politics, and it is likely to reinforce the exclusionary tendencies of neoliberalism, with detrimental implications both for economic prosperity and for democracy. In turn, the pandemic has revealed the limitations of neoliberalism like never before, with implications for the legitimacy of capitalism itself, and opening unprecedented spaces for the left. This book will be of interest to academics in economics, international relations, political science, political economy, sociology and development studies.
Author: Sylvia Walby
Publisher: John Wiley & Sons
ISBN: 150950320X
Category : Social Science
Languages : en
Pages : 174
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Book Description
We are living in a time of crisis which has cascaded through society. Financial crisis has led to an economic crisis of recession and unemployment; an ensuing fiscal crisis over government deficits and austerity has led to a political crisis which threatens to become a democratic crisis. Borne unevenly, the effects of the crisis are exacerbating class and gender inequalities. Rival interpretations – a focus on ‘austerity’ and reduction in welfare spending versus a focus on ‘financial crisis’ and democratic regulation of finance – are used to justify radically diverse policies for the distribution of resources and strategies for economic growth, and contested gender relations lie at the heart of these debates. The future consequences of the crisis depend upon whether there is a deepening of democratic institutions, including in the European Union. Sylvia Walby offers an alternative framework within which to theorize crisis, drawing on complexity science and situating this within the wider field of study of risk, disaster and catastrophe. In doing so, she offers a critique and revision of the social science needed to understand the crisis.
Author: John L. Campbell
Publisher: Princeton University Press
ISBN: 9780691070872
Category : Business & Economics
Languages : en
Pages : 308
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Book Description
This volume brings four of the various schools of institutional analysis together: rational choice, organisational, historical, and discursive institutionalism, to examine the rise of neoliberalism.
Author: Conor Gearty
Publisher: John Wiley & Sons
ISBN: 0745669980
Category : Political Science
Languages : en
Pages : 108
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Book Description
All aspire to liberty and security in their lives but few people truly enjoy them. This book explains why this is so. In what Conor Gearty calls our 'neo-democratic' world, the proclamation of universal liberty and security is mocked by facts on the ground: the vast inequalities in supposedly free societies, the authoritarian regimes with regular elections, and the terrible socio-economic deprivation camouflaged by cynically proclaimed commitments to human rights. Gearty's book offers an explanation of how this has come about, providing also a criticism of the present age which tolerates it. He then goes on to set out a manifesto for a better future, a place where liberty and security can be rich platforms for everyone's life. The book identifies neo-democracies as those places which play at democracy so as to disguise the injustice at their core. But it is not just the new 'democracies' that have turned 'neo', the so-called established democracies are also hurtling in the same direction, as is the United Nations. A new vision of universal freedom is urgently required. Drawing on scholarship in law, human rights and political science this book argues for just such a vision, one in which the great achievements of our democratic past are not jettisoned as easily as were the socialist ideals of the original democracy-makers.
Author: Gérard Duménil
Publisher: Harvard University Press
ISBN: 9780674011588
Category : Business & Economics
Languages : en
Pages : 266
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Book Description
"The sequence of events initiated by neoliberalism is not unprecedented. In the late nineteenth century, when economic conditions were similar to those of the 1970s, a structural crisis led to a financial hegemony, culminating in the speculative boom of the late 1920s."--BOOK JACKET.
Author: Alfredo Saad Filho
Publisher: BRILL
ISBN: 900439320X
Category : Business & Economics
Languages : en
Pages : 373
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Book Description
Value and Crisis brings together selected essays written by Alfredo Saad-Filho, one of the most prominent Marxist political economists today. This book examines the labour theory of value from a rich and innovative perspective, from which fresh insights and new perspectives are derived, with applications for the nature of neoliberalism, financialisation, inflation, monetary policy, and the contradictions, limitations and crises of contemporary capitalism.
