The Endless Crisis: How Monopoly-Finance Capital Produces Stagnation and Upheaval from the USA to China

The Endless Crisis How Monopoly Finance Capital Produces Stagnation and Upheaval from the USA to China The days of boom and bubble are over and the time has come to understand the long term economic reality Although the Great Recession officially ended in June hopes for a new phase of rapid econ
  • Title: The Endless Crisis: How Monopoly-Finance Capital Produces Stagnation and Upheaval from the USA to China
  • Author: John Bellamy Foster Robert W. McChesney
  • ISBN: 9781583673133
  • Page: 237
  • Format: Hardcover
  • The Endless Crisis: How Monopoly-Finance Capital Produces Stagnation and Upheaval from the USA to China
    The days of boom and bubble are over, and the time has come to understand the long term economic reality Although the Great Recession officially ended in June 2009, hopes for a new phase of rapid economic expansion were quickly dashed Instead, growth has been slow, unemployment has remained high, wages and benefits have seen little improvement, poverty has increased, andThe days of boom and bubble are over, and the time has come to understand the long term economic reality Although the Great Recession officially ended in June 2009, hopes for a new phase of rapid economic expansion were quickly dashed Instead, growth has been slow, unemployment has remained high, wages and benefits have seen little improvement, poverty has increased, and the trend toward inequality of incomes and wealth has continued It appears that the Great Recession has given way to a period of long term anemic growth, which Foster and McChesney aptly term the Great Stagnation.This incisive and timely book traces the origins of economic stagnation and explains what it means for a clear understanding of our current situation The authors point out that increasing monopolization of the economy when a handful of large firms dominate one or several industries leads to an over abundance of capital and too few profitable investment opportunities, with economic stagnation as the result Absent powerful stimuli to investment, such as historic innovations like the automobile or major government spending, modern capitalist economies have become increasingly dependent on the financial sector to realize profits And while financialization may have provided a temporary respite from stagnation, it is a solution that cannot last indefinitely, as instability in financial markets over the last half decade has made clear.
    The Endless Crisis: How Monopoly-Finance Capital Produces Stagnation and Upheaval from the USA to China By John Bellamy Foster Robert W. McChesney,
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    About " John Bellamy Foster Robert W. McChesney "

  • John Bellamy Foster Robert W. McChesney

    John Bellamy Foster is a professor of sociology at the University of Oregon, editor of Monthly Review and author of several books on the subject of political economy of capitalism, economic crisis, ecology and ecological crisis, and Marxist theory.

  • 120 Comments

  • This is a rigorous critique of our capitalist economic system and the way contemporary economists analyze it Building on the work of Paul Sweezy co author of Monopoly Capital An Essay on the American Economic and Social Order in 1966 , Foster and McChesney develop a theory of monopoly finance capital, in which profits are sought through financial speculation rather than production, in a system dominated by multinational corporations Among the outcomes of such a system financial bubbles and stagn [...]



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