The deep economic recession that has occurred in all major sectors of the U.S. and global economy is a manifestation of the underlying contradictions of the capitalist system that has resulted in the accumulation of vast fortunes on one side and impoverishment, debt, and destitution on the other. In short, the crisis of global capitalism is the result of the immense disparities in wealth and income and a consequent widening gap between capital and labor. This ground-breaking book brings together a team of experts on the contemporary global capitalist political economy who are able to shed light on the inner workings of global capitalism and the capitalist globalization process that has led to the growth and development of capitalism from the national to the global level, with all its fundamental internal dynamics and contradictions operating on a world'scale. It will make an important contribution to understanding the underlying causes of the current global economic crisis and show the way out of this crisis by way of a powerful critique of the global capitalist system that will ultimately go through a major economic, political, and social transformation. Analysis of the global capitalist crisis raises questions regarding the process of capitalist globalization, especially now that neoliberal economic policies have failed. Does this signal the end of capitalist globalization and the collapse of the global capitalist system? This book will take up these questions and entertain the possibility of a new beginning in the global political economy through an analysis of the next period of post-capitalist developments worldwide that may set the stage for the rise of socialism across the globe.
About the Author
Berch Berberoglu is Professor of Sociology and Director of Graduate Studies in Sociology at the University of Nevada, Reno, USA
Table of Contents
Contents: Preface; Introduction: the global capitalist crisis and its aftermath, Berch Berberoglu; The origins and development of the global capitalist economy and capitalist crises, Alan J. Spector; The great recession and the financial crisis in the United States, the epicentre of the global capitalist crisis, Howard J. Sherman; The global capitalist crisis and world depression, James Petras; The global capitalist crisis and the European Union, with focus on Greece, Mike-Frank G. Epitropoulos; The global capitalist crisis and Latin America, Henry Veltmeyer; The global capitalist crisis and the rise of China to the world'scene, Alvin Y. So; The global capitalist crisis and the end of neoliberal capitalist globalization, Martin Orr; The collapse of global capitalism and the movement toward socialism in the 21st century: new beginnings, Walda Katz-Fishman and Jerome Scott; Conclusion: beyond the global capitalist crisis, Berch Berberoglu; Select bibliography; Index.