Neoliberalism In Crisis

The authors interrogate the condition of the neoliberal project in the wake of the global crisis and neoliberalism's predicted death in 2007, both in terms of the regulatory structures of finance-led capitalism in Europe and North America, and the impact of new centres of capitalist power on global order.

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.

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.

Explains the surprising endurance of neoliberal policymaking over two decades in post-Communist countries, from 1989-2008, and its decline after the financial crash.

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.

At the turn of the twenty-first century, Argentina was in the midst of its worst economic crisis in decades, the result of years of drastic neoliberal reforms. This book looks at the way ideas about race and nationhood were conveyed during this period of financial meltdown and national emergency, examining in particular how the neoliberal crisis led to the critical self-questioning of the dominant imaginary of Argentina as homogeneously white – allegedly the result of European immigration and the extinction of most indigenous and black people in the nation-building age. The Darkening Nation focuses on how the self-examination of racial and national identity triggered by this crisis was expressed in culture, through the analysis of literary texts, films, artworks and music styles. By considering a wide range of artistic and cultural products, and different forms of racial identity and difference (white, indigenous, Afro-descendant, immigrant and negro as it is understood in local contexts), this study constitutes a timely addition from a literary and cultural studies perspective to recent academic enquiry into race and nation in Argentina.

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.

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. Contributors include: William Barnes, Rogers Brubaker, Vincent Della Sala, Nils Gilman, David Held, Mary Kaldor, Adrian Pabst, Ravi Sundaram, Vadim Volkov, Michael Watts, and Kevin Young. The Deepening Crisis is the second part of a trilogy comprised of the first three books in the Possible Future series. Volume 1: Business as Usual Volume 2: The Deepening Crisis Volume 3: Aftermath The three volumes are linked by a common introduction and can be purchased individually or as a set.

Value and Crisis brings together selected essays written by Alfredo Saad-Filho. This book examines the labour theory of value and its implications for the nature of neoliberalism, financialisation, inflation, monetary policy, and the crises of contemporary capitalism.

Leader of Latin America’s powerful new women’s movement rethinks the meaning of feminist politics Recent years have seen massive feminist mobilizations in virtually every continent, overturning social mores and repressive legislation. In this brilliant and original look at the emerging feminist international, Verónica Gago explores how the women’s strike, as both a concept and collective experience, may be transforming the boundaries of politics as we know it. At once a gripping political analysis and a theoretically charged manifesto, Feminist International draws on the author’s rich experience with radical movements to enter into ongoing debates in feminist and Marxist theory: from social reproduction and domestic work to the intertwining of financial and gender violence, as well as controversies surrounding the neo-extractivist model of development, the possibilities and limits of left populism, and the ever-vexed nexus of gender-race-class. Gago asks what another theory of power might look like, one premised on our desire to change everything.