The Great Financial Crisis: Causes and Consequences

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Paperback, Monthly Review Press, 2009, ISBN13 9781583671849, ISBN10 1583671846
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Paperback, Monthly Review Press, 2009, ISBN13 9781583671849, ISBN10 1583671846

About this item

Important Made in USA Origin Disclaimer: For certain items sold by Walmart on Walmart.com, the displayed country of origin information may not be accurate or consistent with manufacturer information. For updated, accurate country of origin data, it is recommended that you rely on product packaging or manufacturer information.

Paperback, Monthly Review Press, 2009, ISBN13 9781583671849, ISBN10 1583671846

In the fall of 2008, the United States was plunged into a financial crisis more severe than any since the Great Depression. As banks collapsed and the state scrambled to organize one of the largest transfers of wealth in history, many--including economists and financial experts--were shocked by the speed at which events unfolded.

In this new book, John Bellamy Foster and Fred Magdoff offer a bold analysis of the financial meltdown, how it developed, and the implications for the future. They examine the specifics of the housing bubble and the credit crunch as well as situate current events within a broader crisis of monopoly-finance capitalism--one that has been gestating for several decades. It is the "real" productive economy's tendency toward stagnation, they argue, that creates a need for capital to find ways to profitably invest its surplus. But rather than invest in socially useful projects that would benefit the vast majority, capital has constructed a financialized "casino" economy that neglects social needs and, as has become increasingly clear, is fatally unstable. Written over a two-year period immediately prior to the onset of the crisis, this timely and illuminating book is necessary reading for all those who wish to understand the current situation, how we got here, and where we are heading.

Specifications

Number of Pages: 144
Number in Series: 1
Original Languages: English
Author: Foster, John Bellamy ,  Magdoff, Fred
Publisher: New York Univ Pr
ISBN-13: 9781583671849
Assembled Product Dimensions (L x W x H): 5.50 x 7.75 x 0.50 Inches
ISBN-10: 1583671846
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