Bankruptcies and Bailouts

Edited by Wayne Antony and Julie Guard  

Paperback $18.95

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Recession? Depression? Market adjustment? Billion-dollar bailouts? Just what is happening to the economy? Like the rest of the industrialized world, Canada is in the midst of an economic crisis that is cleary of global proportions. Yet, Nobel Prize winning economists failed to see it coming. This is unsurprising since, in the words of the newly humble Alan Greenspan, the crisis revealed “a flaw in the model … that defines the way the world works.” Bankruptcies and Bailouts explains the roots of this economic disaster. The essays in this book show, in clear and accessible language, that the global capitalist economy, dependent on hyper-extended credit, fuelled by systematic deregulation and rooted in the contradictions of a mad drive for unlimited profits, must inevitably end up in this predicament. The authors also demonstrate that there are ways out of this economic mess that do not involve simply bailing out the obscenely over-paid executives whose decisions led us to this chaos.

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Contents

  • Foreword-Cy Gonick
  • Explaining the Economic Crisis: Class Warfare from Reagan to Obama-Robert Chernomas
  • Inequality, the Profit System and the Global Crisis-David McNally
  • From Deregulation to Crisis-Ian Hudson
  • Hyper-Credit: The Financial Dimension of the Economic Crisis-John Loxley
  • Canada and the Economic Crisis-Fletcher Baragar
  • We’re All Keynesians-Again-Lynne Fernandez
  • Keynes Redux: History Catches Up-Rahdika Desai
  • Investing in Civilisation: What the State can do in a Crisis-Alan Freeman
  • Biblography

Authors

  • Wayne Antony

    Co-publisher, Fernwood Publishing

    Wayne Antony (he/him) is a publisher at Fernwood Publishing. He is a founding member of the Canadian Centre for Policy Alternatives–Manitoba (CCPA-MB) and a board member since its inception in 1997. He has worked with other Winnipeg political activist organizations, the Socialist Education Centre and Thin Ice. Wayne also taught sociology at the University of Winnipeg for eighteen years. He is co-author of three reports on the state of public services in Manitoba (for CCAP-MB) and is co-editor of six editions of Power and Resistance: Critical Thinking About Canadian Social Issues, co-editor of Citizens or Consumers? Social Policy in a Market Society and Capitalism Rebooted? Work and Welfare in the New Economy (both with Dave Broad), and co-editor (with Julie Guard) of Bankruptcies and Bailouts.

  • Julie Guard

    University of Manitoba

    Julie Guard is an associate professor of labour studies at the University of Manitoba, a research associate for the Canadian Centre for Policy Alternatives-Manitoba and a member of the CCPA Manitoba and National boards. She is active in the labour, peace and women’s movements, and her articles on gender, ethnicity and working-class identity have been published in Labour/le travail and the Journal of Women’s History.

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Fernwood Publishing Company Limited gratefully acknowledges the financial support of the Government of Canada through the Canada Book Fund and the Canada Council for the Arts, the Nova Scotia Department of Communities, Culture and Heritage, the Manitoba Department of Culture, Heritage and Tourism under the Manitoba Publishers Marketing Assistance Program and the Province of Manitoba, through the Book Publishing Tax Credit, for our publishing program.