Crisis and Sequels : Capitalism and the New Economic Turmoil Since 2007

A collection of discussions since 2008 with left-minded economists and political economists about the economic crisis of 2007-8, its sequels, and the implications for understanding capitalism and for socialist politics.

As the economic crash of 2007–8 and its sequels developed, neoliberal economists often said that economic theory can never cope with such eruptions, and left-minded and political economists struggled to find answers. This book documents discussions as they developed; an introduction and an afterword tell the story of the crisis, and offer syntheses and angles on some of the debated issues. What were the chief imbalances in the world economy? Is US hegemony breaking down? Were falling profit rates at the root of the crash, and if so why were they falling? How does "financialisation" reshape capitalism? Why did neoliberalism prove so resilient? How might the repercussions lead to it being subverted from the right or from the left?