Situates the current crisis in the historical trajectory of the capitalist world-system, showing how the crisis was made possible not only by neoliberal financial reforms but by a massive turn away from manufacturing things of value towards seeking profit from financial exchange and credit. Much more basic than the result of a few financial traders cheating the system, this is a potential historical turning point. In original essays, the contributors establish why the system was ripe for crisis of the past, and yet why this meltdown was different. The volume concludes by asking whether as deep as the crisis is, it may contain seeds of a new global economy, what role the US will play, and whether China or other countries will rise to global leadership.
Contributors include: Immanuel Wallerstein, David Harvey, Saskia Sassen, James Kenneth Galbraith, Manuel Castells, Nancy Fraser, Rogers Brubaker, David Held, Mary Kaldor, Vadim Volkov, Giovanni Arrighi, Beverly Silver, and Fernando Coronil.
The three volumes can purchased individually or as a set.
About the Author
Georgi Derluguian is Associate Professor of International Studies and Sociology at Northwestern University and is the author of Bourdieu's Secret Admirer in the Caucasus: A World-System Biography.
Table of ContentsSeries Acknowledgments Series Introduction: From the Current Crisis to Possible Futures Craig Calhoun Introduction Craig Calhoun and Georgi Derluguian1 The End of the Long Twentieth Century Beverly J. Silver and Giovanni Arrighi2 Dynamics of (Unresolved) Global Crisis Immanuel Wallerstein3 The Enigma of Capital and the Crisis This Time David Harvey4 A Turning Point or Business as Usual? Daniel Chirot5 Marketization, Social Protection, Emancipation: Toward a Neo-Polanyian Conception of Capitalist Crisis Nancy Fraser6 Crisis, Underconsumption, and Social Policy Caglar Keyder7 The Crisis of Global Capitalism: Toward a New Economic Culture? Manuel Castells 8 The Convolution of Capitalism Gopal Balakrishnan9 The Future in Question: History and Utopia in Latin America (1989–2010) Fernando Coronil Notes About the Contributors Index
What People are Saying About This
“A brilliant and inspiring collection of analyses from world-renowned international social theorists and political economists, far-reaching in its implications for our understanding, not just of the current crisis, but of its historical roots and the importance of politics to the future of global socio-economic structures.”
-Kate Nash,author of The Cultural Politics of Human Rights
“There may be a silver lining to the global financial meltdown of 2008, for it has made possible a book such as this one. In Business as Usual, Craig Calhoun and Georgi Derluguian have brought together some of ‘the best and brightest’ in the business and given them a most unusual task: to tell the story of the financial crisis in all its complexity, in a manner that is both clear and precise. The result is critical social science at its best: more than explanation, prediction or prescription, this book offers the promise of actual understanding.”
-Ivan Ascher,University of Massachusetts, Amherst
"The high quality of the wide-ranging essays makes this volume a worthwhile addition to library collections and a valuable resource for both students and specialists wanting to explore the complex roots of the financial crisis."