Manufacturers

Global Slump: The Economics and Politics of Crisis and Resistance

Global Slump: The Economics and Politics of Crisis and Resistance

Analyzes the systemic crisis facing this neoliberal phase of capitalism and argues that far from having ended, the global meltdown has ushered in a whole period of worldwide economic and political turbulence.

More details


£7.50

Global Slump analyzes the global 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. 

The book locates the recent meltdown in the intense economic restructuring that marked the recessions of the mid-1970s and early 1980s. Through this lens, it highlights the emergence of new patterns of world inequality and new centers of accumulation, particularly in East Asia, and the profound economic instabilities these produced.Global Slump offers an original account of the “financialization” of the world economy during this period, and explores the intricate connections between international financial markets and new forms of debt and dispossession, particularly in the Global South. 

Analyzing the massive intervention of the world’s central banks to stave off another Great Depression, Global Slump 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 deep cuts to social programs. The book takes 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. At the same time, Global Slump 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 anti-capitalist opposition to the damage that neoliberal capitalism is inflicting on the lives of millions.

Praise:

"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, Department of Politics, NYU, and author of Dance of the Dialectic: Steps in Marx’s Method

 “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 neo-liberalism -- it's capitalism.” 
--Ruth Wilson Gilmore, University of Southern California and author, Golden Gulag

“Standard accounts of the present crisis blame the excesses of the financial sector, promising that all will be well when the proper financial regulations are in place. McNally’s path breaking account goes far deeper. He documents in great detail how the roots of the crisis are found in the systematic failings of capitalism. At this moment in world history the case for a radical alternative to the capitalist global order needs to be made as forcefully as possible. No one has done this better than McNally.” 
--Tony Smith, Professor of Philosophy, Iowa State University and author of Globalisation: A Systematic Marxian Account

“McNally has developed a powerful interpretation that sheds a mass of new light… This is a superb book.” 
--Robert Brenner, author of The Economics of Global Turbulence on Political Economy and the Rise of Capitalism.

“By exposing the historical and theoretical roots of ‘market socialism’, David McNally demonstrates in a particularly lucid and powerful way the fundamental flaws and contradictions in that concept.” 
--Ellen Meiksins Wood, author of Empire of Capital on Against the Market: Political Economy, Market Socialism and the Marxist Critique.

About the Author:

David McNally is Professor of Political Science at York University, Toronto. He is the author of five previous books: Political Economy and the Rise of Capitalism (1988); Against the Market: Political Economy Market Socialism and the Marxist Critique (2003); Bodies of Meaning: Studies on Language, Labor and Liberation (2001);Another World is Possible: Globalization and Anti-Capitalism (2002; second revised edition 2006); and Monsters of the Market: Body Panics and Global Capitalism (2010). His articles have appeared in many journals, includingHistorical MaterialismCapital and ClassNew Politics, and Review of Radical Political Economics. David McNally is also a long-time activist in socialist, anti-poverty and migrant justice movements.  

Product Details:

Author: David McNally
Publisher: PM Press/Spectre
Published: December 2010
ISBN: 978-1-60486-332-1
Format: Paperback
Page Count: 248 Pages
Dimensions: 8 by 5
Subjects: Politics-Marxism, Economics

Cart  

No products

£0.00 Shipping
£0.00 Total

Cart Check out

New products

  • Headwinds *1
  • One Way Ticket to Cubesville *22
Headwinds *1
From the Total Blast stable of comics comes Headwinds *1.
Read more
One Way Ticket to Cubesville *22
Cubesville 22 arrived in Dec 2017 and is another classic.
Read more
The Animals' Freedom Fighter
The Animals' Freedom Fighter: A Biography of Ronnie Lee, Founder of the...
Read more
Anarchism and Animal Liberation
Anarchism and Animal Liberation: Essays on Complementary Elements of...
Read more
2018 London Rebel History Calendar
Rebellious, subversive and campaigning anniversaries from London's...
Read more
Maximum Rocknroll *415 Dec 2017
Anti Police-Terror Project, Portland, OR’s No! To Rape Culture...
Read more
For a Libertarian Communism by Daniel Guerin
Daniel Guérin not only provides a critique of the socialist and...
Read more
Stanley's Exploits, Or, Civilising Africa by D.J. Nicole
David Nicoll was an anarchist militant, active in Sheffield and London a...
Read more
With the Poor People of the Earth
With the Poor People of the Earth: A Biography of Doctor John Creaghe of...
Read more
Divided We Beg ....... sticker
United We Bargain, Divided We Beg and IWW sticker
Read more
La Restencia es fertile ... sticker
La Restencia es fertile , resistance is fertile!
Read more
The Police are here.... sticker
The Police aren't here to protect you from dangerous sociopaths .......
Read more
Anarchy means.... sticker
Anarchy means starting to create a world where we don't have cops and we...
Read more
Biocentric Anarchy
This zine was written in London in 2016 by a person who's considered...
Read more
Rupturing the Dialectic by Harry Cleaver
Rupturing the Dialectic The Struggle against Work, Money, and...
Read more
Guerrillas of Desire by Kevin Van Meter
Guerrillas of Desire Notes on Everyday Resistance and Organizing to Make...
Read more
Knights Errant of Anarchy
Knights Errant of Anarchy London and the Italian Anarchist Diaspora...
Read more
Against the Couple Form / They Who Marry Do Ill
Two articles, a hundred years apart, both provocative. The first, from...
Read more
From Politics to Life by Wolfi Landstreicher
Ridding Anarchy of the Leftist Millstone
Read more
God Only Knows What Devils We Are
God Only Knows What Devils We Are from the Institute for Experimental...
Read more

» All new products