The Great Financial Crisis: Causes and Consequences

摘要: In the fall of 2008, United States was plunged into a financial crisis more severe than any since Great Depression. As banks collapsed and state scrambled to organize one largest transfers wealth in history, many including economists experts were shocked by speed at which events unfolded.In this new book, John Bellamy Foster Fred Magdoff offer bold analysis meltdown, how it developed, implications for future. They examine specifics housing bubble credit crunch as well situate current within broader monopoly-finance capitalism that has been gestating several decades. It is "real" productive economy s tendency toward stagnation, they argue, creates need capital find ways profitably invest its surplus. But rather socially useful projects would benefit vast majority, constructed financialized "casino" neglects social needs and, become increasingly clear, fatally unstable. Written over two-year period immediately prior onset crisis, timely illuminating book necessary reading all those who wish understand situation, we got here, where are heading."