Description
Book SynopsisTaking a closer look at the industrialized world, this revealing study claims that Canada is in the midst of an economic crisis of global proportions-and that Nobel Prize–winning economists failed to see it coming. This accessible survey tackles the roots of this monetary disaster with a collection of in-depth essays, showing how the global capitalist economy-dependent on hyper-extended credit, fueled by systematic deregulation, and rooted in the contradictions of a mad drive for unlimited profitability-must inevitably end up in such a predicament. From recession to depression and market adjustment to billion-dollar stimulus plans, this reference also proves that there are ways out of this economic conundrum that do not involve saving those responsible.
Table of ContentsContents Foreword-Cy Gonick Explaining the Economic Crisis: Class Warfare from Reagan to Obama-Robert Chernomas Inequality, the Profit System and the Global Crisis-David McNally From Deregulation to Crisis-Ian Hudson Hyper-Credit: The Financial Dimension of the Economic Crisis-John Loxley Canada and the Economic Crisis-Fletcher Baragar We're All Keynesians-Again-Lynne Fernandez Keynes Redux: From World Money to International Money at Last?-Rahdika Desai Investing in Civilisation: What the State can do in a Crisis-Alan Freeman Biblography
