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In and Out of Crisis: The Global Financial Meltdown and Left Alternatives

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While many around the globe are increasingly wondering if another world is indeed possible, few are mapping out potential avenues-and flagging wrong turns-en route to a post-capitalist future. In this groundbreaking analysis of the financial meltdown, renowned radical political economists Albo, Gindin, and Panitch lay bare the roots of the crisis in the inner logic of capitalism itself.

With an unparalleled understanding of capitalism, the authors provocatively challenge the call by much of the Left for a return to a largely mythical Golden Age of economic regulation as a check on finance capital unbound. They deftly illuminate how the era of neoliberal free markets has been, in practice, undergirded by state intervention on a massive scale. The authors argue that it's time to start thinking about genuinely transformative alternatives to capitalism-and how to build the collective capacity to get us there. In and Out of Crisis stands to be the enduring critique of the crisis and an indispensable springboard for a renewed Left.

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Editorial Reviews

In These Times
The most useful book to come out of the current crisis. I hope it's used to its fullest potential.
From the Publisher

"Leo Panitch has stood out in recent years as one of the socialist intellectuals most fully engaged with political questions, analyzing the problems faced by left-wing parties, trade unions, and other social movements with great clarity."  —Irish Left Review

"Greg Albo, Sam Gindin, and Leo Panitch provide a perceptive, and persuasive, analysis of the origins of the crisis, arguing that the Left must go beyond the demand for re-regulation, which, they assert, will not solve the economic or environmental crisis, and must instead demand public control of the banks and the financial sector, and of the uses to which finance is put. This is an important book that should be read widely, especially by those hoping to revitalize the Left."  —Barbara Epstein, professor, UC Santa Cruz

"[Leo Panitch is] a wonderful writer who bridges the disjuncture between theory and political praxis."  —John C. Berg, government professor, Suffolk University

"Panitch’s work is consistently characterized by intelligence, rigor, and commitment."  —David Abraham, law professor, University of Miami

"The most useful book to come out of the current crisis. I hope it's used to its fullest potential."  —In These Times

"This brilliant work deserves a wide audience although its theoretical depth often makes it far from an easy read. Starting from the paradox that the financial meltdown has cost the ruling elites their credibility even while the North American Left has remained largely marginal, the authors proceed to challenge a number of widely held misconceptions and then sketch out a strategy for the rebirth of a radical movement." —The Labor Studies Journal

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Product Details

  • ISBN-13: 9781604862126
  • Publisher: PM Press
  • Publication date: 3/5/2010
  • Series: Spectre Series
  • Edition description: New Edition
  • Pages: 144
  • Product dimensions: 5.40 (w) x 8.40 (h) x 0.40 (d)

Meet the Author

Greg Albo and Leo Panitch are coeditors of the Socialist Register and professors of political economy at York University in Toronto. Sam Gindin is the former research director of the Canadian Autoworkers Unions and a professor of political economy at York University. They live in Toronto.
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Table of Contents

Preface 9

Chapter 1 Surveying the Crisis: Is Neoliberalism Over? 13

Chapter 2 Neoliberalism, Finance, and Crises 27

Chapter 3 Finance, Regulation, and the American State 43

Chapter 4 Crisis Management from Bush to Obama 60

Chapter 5 From Finance to Industry: The Crisis in Auto 75

Chapter 6 Labor's Impasse and the Left 89

Chapter 7 Another Way out of the Crisis? Strategic Considerations for the North American Left 105

Chapter 8 Ten Theses on the Crisis 122

Suggested Readings 130

Notes 133

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