Economics

  • Global Slump

    The Economics and Politics of Crisis and Resistance

    By David McNally     January 2011

    Global Slump analyzes the global financial meltdown as the first systemic crisis of the neoliberal stage of capitalism. It argues that - far from having ended - the crisis has ushered in a whole period of worldwide economic and political turbulence. In developing an account of the crisis as rooted in fundamental features of capitalism, Global Slump challenges the view that its source lies in financial deregulation.

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  • The Socialist Register 2011

    The Crisis This Time

    Edited by Greg Albo, Vivek Chibber and Leo Panitch     January 2011

    The challenge for socialist analysis is to reveal both the nature of the contradictions of capitalism in the neo-liberal era of globalized finance, and their consequences in our time. Crises need to be understood as turning points that open up opportunities.

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  • Rumours of a Moral Economy

    By Christopher Lind     September 2010

    Do economies have ethics? Bringing together the work of historians, economists, social theorists and ethicists, Christopher Lind explores the rise of the capitalist market system and its global spread, and details how and why the economy became separated from ethics. Lind convincingly argues that although economics and ethics are understood to be separate at the level of ideas, in practice, economies are deeply embedded in society, relationships and morality. Contrary to the dominant academic paradigm, economies are not autonomous from society or the state, as is always made clear in times of crisis - from the economic morality of the English peasant crowds to the financial bubble of 2008/9. Rumours of a Moral Economy argues that while many different economic arrangements may be thought of as morally acceptable, popular resistance demonstrates the boundaries of justice in terms of sustainability, sufficiency, solidarity and equity.

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  • Beyond the Profits System

    Possibilities for the Post-Capitalist Era

    By Harry Shutt     May 2010

    While many have claimed that no one could have foreseen the financial crisis, Harry Shutt was predicting just such a collapse as far back as 1998 in his book, The Trouble With Capitalism. In Beyond the Profits System, Shutt offers a radically different analysis to the mainstream, establishment commentators who have struggled to come to terms with the crisis. Arguing that we need to move away from a system based on compulsive addiction to growth and obsession with the profit motive, towards a collectivist, more humane economic mode, the book provides not merely a comprehensive background to the flawed ideologies of that precipitated the collapse, but also a radical, though realistic, way forward in light of the catastrophe.

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  • The Economics Anti-Textbook

    A Critical Thinker’s Guide to Microeconomics

    By Rod Hill and Tony Myatt     May 2010

    Mainstream textbooks present economics as an objective science free from value judgments. The Anti-Textbook argues that this is a myth-one that is not only dangerously misleading but also bland and boring. Challenging the mainstream textbooks’ assumptions, arguments, models and evidence, this book puts the controversy and excitement back into economics to reveal a fascinating and a vibrant field of study-one which is more an ‘art of persuasion’ than it is a science. Paralleling a typical textbook, each chapter provides a brief synopsis of the topic at hand before presenting an analysis and critique. Drawing on the work of leading economists, the Anti-Textbook lays bare the blind spots in the texts and their sins of omission and commission by demonstrating the hidden value judgments and lack of evidence, as well as the silencing of contrary evidence and alternative theories.

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  • Economic Democracy

    The Working Class Alternative to Capitalism

    By Allan Engler     March 2010

    Identifying capitalism as a system of socialized labour, privately owned capitalist collectives (corporations) and workplace (dictatorships), this book proposes economic democracy as an alternative form of organization. Unlike the capitalist system, which centralizes power with a small elite, economic democracy entitles everyone to a voice and equal vote in their communities’ economic and political decisions. Workplace and community democracy will replace capitalist (corporate) dictatorship. Engler proposes that working-class change will be based on workplace organizations, community mobilizations and democratic political action; on gains and reforms that improve living conditions while methodically replacing wealthholders’ entitlement with human entitlement, capitalist ownership with community ownership and master-servant relations with workplace democracy.

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  • Bankruptcies and Bailouts

    Edited by Wayne Antony and Julie Guard     May 2009

    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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  • The Money Changers

    A Guided Tour Through Global Currency Markets

    By Robert G. Williams     January 2006

    Currency markets, worth almost $2 trillion per day in trade, link the world together. Yet few people know how they work and why they are prone to instability and bouts of panic. This book, neither a technical manual nor a get-rich-quick tract, takes the reader on a guided tour of the places, the machines, the circuitry and the people involved in moving the world’s money. From the simple to the complex, currency traders, market analysts, money managers and payments systems architects show their workplaces and reveal their day-to-day experiences. The book will give the reader a graphic picture of the geographical and structural organization of global currency markets and the people who run them. It presents a picture of a volatile, and rapidly evolving structure which will help to decipher the complex causes of yet unforeseen global financial events.

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  • Truth or Profit?

    The Ethics and Business of Public Accounting

    By Duncan Green and Dean Neu     January 2006

    The images will not go away–huge multinational corporations failing, well-dressed executives being led away in handcuffs, and public accounting firms being charged for complicity. How do we make sense of the reality behind these images? Is it, as cynics claim, that public accountants are self-seeking, offering a form of window-dressing for greedy corporate executives? Or is public accounting a profession doing the best it can in the face of difficult circumstances? Are public accountants driven by the profit motive or are they seeking a truth in accounting? Neu and Green argue that it is impossible to answer these questions without examining the historical evolution of public accountancy. Their analysis illustrates that public accountancy is simultaneously a business and a public service–thus to try to understand it in any other way misses the tension that is always present between these two faces of the profession.

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  • Global Trade

    Past Mistakes, Future Choices

    By Greg Buckman     January 2005

    Trade, along with the free movement of capital, is at the heart of today’s international economy. But international trade is an intensely political and contested subject. This book traces the history of global trade, the impact of current global trading arrangements on poverty, inequality and the environment, its hugely differential consequences for high-income and low-income countries, and future options for revised trading arrangements. It argues that factors like future fossil fuel costs, global warming and the economic imbalances between North and South are likely to impel a radical reshaping of the WTO and the principles enshrined in its agreements. It outlines the diverse proposals advocated by the global justice movement to make global trade more sustainable.

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