The Great Financial Meltdown reviews, advocates and critiques the systemic, conjunctural and policy-based explanations for the 2008 crisis. The book expertly examines the explanations for the global crisis to assess their analytical and empirical validity. Comprehensive yet accessible chapters, written by a collection of prominent authors, cover a wide range of political economy approaches to the crisis, including Marxian, Post Keynesian and other heterodox schools. This interrogation of economic policy in light of the financial crisis is essential reading for real-word economists. To those seeking to understand the current economic stagnation and failings of the system, it offers an enlightening exposition of contemporary political economy.
Contents:PART I INTRODUCTION1. The Crisis in ContextTuran Subasat 2. Roots of the Current Economic Crisis: Capitalism, Forms of Capitalism, Policies, and Contingent EventsDavid M. KotzPART II CRISIS AND PROFITABILITY 3. Crisis Theory and the Falling Rate of ProfitDavid Harvey4. Monocausality and Crisis Theory - A Reply to David HarveyMichael Roberts5. Booms, Depressions, and the Rate of Profit: A Pluralist, Inductive GuideAlan FreemanPART III THE CRISIS IN ECONOMIC AND SOCIAL REPRODUCTION6. A Global Approach to the Global Financial CrisisJohn Weeks7. The Incubator of the Great Meltdown of 2008: The Structure and Practices of US Neoliberalism as Attacks on LaborAl Campbell and Erdogan Bakir8. The Value of History and the History of ValueRadhika Desai9. The Systemic Failings in Framing Neo-Liberal Social PolicyBen Fine10. The Policy-Based and Conjunctural Causes of the 2008 CrisisTuran Subasat11. The Systemic Causes of the 2008 Crisis - An Alternative Theoretical PerspectiveTuran SubasatPART IV CRISIS AND FINANCE12. Inequality, Money Markets and CrisisSimon Mohun13. The Crisis of Finance and the Crisis of Accumulation: It Was Not a 'Lehman Brothers Moment'Jan Toporowski14. Contradictions of Capital Accumulation in the Age of FinancializationOzgur Orhangazi15. Which Crisis, of Which Capitalism? A Marxian and Financial Keynesian Interpretation of Neoliberalism and the Great RecessionRiccardo Bellofiore16. The Contested Nature of Financialization in Emerging Capitalist EconomiesAnnina Kaltenbrunner and Elif Karacimen.PART V THE CRISIS UNFOLDS17. The Greek Crisis: Structural or Conjunctural?Stavros D. Mavroudeas18. Greece, Global Fault-lines and the Disintegrative Logics of Germany's Primacy in Europe.Vassilis K. Fouskas19. Conclusions John WeeksIndex
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