About 50km outside of Cape Town lies the beautiful town of Stellenbosch, nestled against vineyards and blue mountains that stretch to the sky. Here reside some of South Africa’s wealthiest individuals: all male, all Afrikaans – and all stinking rich. Johann Rupert, Jannie Mouton, Markus Jooste and Christo Weise, to name a few.

Julius Malema refers to them scathingly as ‘The Stellenbosch Mafia’, the very worst example of white monopoly capital. But who really are these mega-wealthy individuals, and what influence do they exert not only on Stellenbosch but more broadly on South African society?

Author Pieter du Toit begins by exploring the roots of Stellenbosch, one of the wealthiest towns in South Africa and arguably the cradle of Afrikanerdom. This is the birthplace of apartheid leaders, intellectuals, newspaper empires and more.

He then closely examines this ‘club’ of billionaires. Who are they and, crucially, how are they connected? What network of boardroom membership, alliances and family connections exist? Who are the ‘old guard’ and who are the ‘inkommers’, and what about the youngsters desperate to make their mark? He looks at the collapse of Steinhoff: what went wrong, and whether there are other companies at risk of a similar fate. He examines the control these men have over cultural life, including pulling the strings in South Africa rugby.

From the #1 bestselling author of The Big Short and Flash Boys comes the high-octane story of the enigmatic figure at the heart of one of the 21st century's most spectacular financial collapses

'I asked him how much it would take for him to sell FTX and go do something other than make money. He thought the question over. "One hundred and fifty billion dollars," he finally said-though he added that he had use for "infinity dollars"...'

Sam Bankman-Fried wasn't just rich. Before he turned thirty he'd become the world's youngest billionaire, making a record fortune in the crypto frenzy. CEOs, celebrities and world leaders vied for his time. At one point he considered paying off the entire national debt of the Bahamas so he could take his business there.

Then it all fell apart.

Who was this Gatsby of the crypto world, a rumpled guy in cargo shorts, whose eyes twitched across TV interviews as he played video games on the side, who even his million-dollar investors still found a mystery? What gave him such an extraordinary ability to make money - and how did his empire collapse so spectacularly?

Michael Lewis was there when it happened, having got to know Bankman-Fried during his epic rise. In Going Infinite he tells us a story like no other, taking us through the mind-bending trajectory of a character who never liked the rules and was allowed to live by his own. Both psychological portrait of a preternaturally gifted 'thinking machine', and wild financial roller-coaster ride, this is a twenty-first-century epic of high-frequency trading and even higher stakes, of crypto mania and insane amounts of money, of hubris and downfall. No one could tell it better.

Why do these large financial institutions with hundreds of billions on their books fail out of the blue? What role do central banks play in these dramatic failures? How can the global financial system be reformed to be more resilient, and what path should South Africa take?

In a world where banks are perceived as unshakeable fortresses, there is a worrying truth that lies just beneath the surface: banks are far more fragile and fail more frequently than we choose to believe.

In the US alone, more than 560 banks have failed since the turn of the century. In South Africa, the collapse of Saambou in 2002 sparked the A2 Banking Crisis, which saw half the country’s banks deregistered in the aftermath. In 2023, the high-profile failures of Silicon Valley Bank, First Republic Bank, Signature Bank and Credit Suisse dominated global headlines and set off waves of panic across the international banking landscape.

SUNDAY TIMES BESTSELLER 'If you think the UK isn't corrupt, you haven't looked hard enough ... This terrifying book follows a global current of dirty money, and the murders and kidnappings required to sustain it' GEORGE MONBIOT, GUARDIAN AN ECONOMIST AND WASHINGTON POST BOOK OF THE YEAR 2020 'When you pick this book up, you won't be able to put it down' MISHA GLENNY, author of MCMAFIA 'Gripping, disturbing and deeply reported' BEN RHODES, bestselling author of THE WORLD AS IT IS In this real-life thriller packed with jaw-dropping revelations, award-winning investigative journalist Tom Burgis reveals a terrifying global web of kleptocracy and corruption. Kleptopia follows the dirty money that is flooding the global economy, emboldening dictators, enriching oligarchs and poisoning democracies. From the Kremlin to Beijing, Harare to Riyadh, London to the Trump White House, it shows how the thieves are uniting - and the terrible human cost. A body in a burned-out Audi. Workers riddled with bullets in the Kazakh desert. A rigged election in Zimbabwe. A British banker silenced and humiliated for trying to expose the truth about the City of London - the world's piggy bank for blood money. Riveting, horrifying and written like fiction, this book shows that while we are looking the other way, all that we hold most dear is being stolen.

Bestselling author Ben Mezrich offers a gripping, beat-by-beat account of how a loosely affiliate group of private investors and internet trolls took down one of the biggest hedge funds on Wall Street, firing the first shot in a revolution that threatens to upend the financial establishment.

It started on a subreddit forum called WallStreetBets – a meme-filled, freewheeling place where a disparate group of investors shared their shoot-the-moon investment tips, laughed about big losses and posted diamond hand emojis. Until some members noticed an opportunity in Game Stop – a flailing bricks and mortar video-game retailer – and somehow rode a rocket ship to tens of millions of dollars in earnings overnight, simultaneously triggering unfathomable losses for one of the most respected funds on the street.

In thrilling, pulse-pounding prose, DUMB MONEY (previously published as THE ANTISOCIAL NETWORK) offers a fascinating, never-before-seen glimpse at the outsize personalities, dizzying swings, corporate drama, and underestimated American heroes and heroines who captivated the world during one of the most volatile weeks in financial history. It’s the amazing story of what just happened – and where we go from here.

Lucy Easthope lives with disaster every day. When a plane crashes, a bomb explodes, a city floods or a pandemic begins, she's the one they call. As one of the world's leading experts on disaster she has been at the centre of the most seismic events of the last few decades - advising on everything from the 2004 Boxing Day tsunami to the 7/7 bombings, the Salisbury poisonings, the Grenfell fire and the Covid-19 pandemic.

She has travelled across the world in this unusual role, seeing the very worst that people have to face, and finding that even the most extreme of situations, we find the very best of humanity. In her moving memoir she reveals what happens in the aftermath. She takes us behind the police tape to scenes of destruction and chaos, introducing us to victims and their families, but also to the government briefing rooms and bunkers, where confusion and stale biscuits can reign supreme.

With wisdom, resilience and candour When the Dust Settles looks back at a life spent on the edges of disaster and shows us that where there is terrible tragedy there is also great hope and that humanity and humour can - and must - still be found on the darkest of days.

Eran Eyal had it all: a trendy New York apartment, a jet-set lifestyle and investors lining up to get in on his million-dollar cryptocurrency start-up, Shopin. He had come a long way from an ordinary middle-class childhood in Durban and the burgeoning tech start-up world of Cape Town.

But the New York authorities pounced in 2018, charged him with fraud and packed him off to Rikers Island. There began the gobsmacking unravelling of a scam that spanned investors across the globe and revealed that Eyal had built a house of cards involving fictitious products, clients and advisors for Shopin and his previous company, Springleap. As more than $40 million went up in smoke, the South African entrepreneur was exposed as an audacious fraudster determined to succeed at any cost – even if it meant spinning a web of  lies to do so.

“An age-old narrative about ego and flying too close to the sun as well as a modern version of greed in the tech world.” Michael Jordaan

“Eyal proves definitively that a thousand white lies can get you convicted of fraud. This book meticulously walks the reader though the start-up lies that ended in tears.” Nic Haralambous

About 50km outside of Cape Town lies the beautiful town of Stellenbosch, nestled against vineyards and blue mountains that stretch to the sky. Here reside some of South Africa’s wealthiest individuals: all male, all Afrikaans – and all stinking rich. Johann Rupert, Jannie Mouton, Markus Jooste and Christo Weise, to name a few.

Julius Malema refers to them scathingly as ‘The Stellenbosch Mafia’, the very worst example of white monopoly capital. But who really are these mega-wealthy individuals, and what influence do they exert not only on Stellenbosch but more broadly on South African society?

Author Pieter du Toit begins by exploring the roots of Stellenbosch, one of the wealthiest towns in South Africa and arguably the cradle of Afrikanerdom. This is the birthplace of apartheid leaders, intellectuals, newspaper empires and more. He then closely examines this ‘club’ of billionaires. Who are they and, crucially, how are they connected? What network of boardroom membership, alliances and family connections exist? Who are the ‘old guard’ and who are the ‘inkommers’, and what about the youngsters desperate to make their mark? He looks at the collapse of Steinhoff: what went wrong, and whether there are other companies at risk of a similar fate. He examines the control these men have over cultural life, including pulling the strings in South Africa rugby.

The story of the idealists, technologists, and opportunists fighting to bring cryptocurrency to the masses.

In their short history, Bitcoin and other cryptocurrencies have gone through booms, busts, and internecine wars, recently reaching a market valuation of more than $2 trillion. The central promise of crypto endures—vast fortunes made from decentralized networks not controlled by any single entity and not yet regulated by many governments.

The recent growth of crypto would have been all but impossible if not for a brilliant young man named Vitalik Buterin and his creation: Ethereum. In this book, Laura Shin takes readers inside the founding of this novel cryptocurrency network, which enabled users to launch their own new coins, thus creating a new crypto fever. She introduces readers to larger-than-life characters like Buterin, the Web3 wunderkind; his short-lived CEO, Charles Hoskinson; and Joe Lubin, a former Goldman Sachs VP who became one of crypto’s most well-known billionaires. Sparks fly as these outsized personalities fight for their piece of a seemingly limitless new business opportunity.

This fascinating book shows the crypto market for what it really is: a deeply personal struggle to influence the coming revolution in money, culture, and power.

This second edition of Understanding Money Laundering and Illicit Financial Flows explains these two concepts and outlines strategic responses to deal with them. The book explores the forms of money laundering and illicit financial transfers; mechanisms used to launder money; measures to curb, investigate and monitor these crimes; and asset forfeiture.

Understanding Money Laundering and Illicit Financial Flows also considers new strategic approaches to combating these crimes. It touches briefly on the funding of terrorism, which is seen as closely connected to laundering and illicit transfers. The book includes clear illustrations, useful statistics, explanations of frequently used terms, a comprehensive bibliography and recommendations for further reading.

Understanding Money Laundering and Illicit Financial Flows provides the reader with an easy entry into these complex subjects. The book will be useful not only for role players in the public sector – such as policy makers, politicians, law enforcement officials and regulators – but also for businesses and managers in the private sector. Written in an accessible way, the book is aimed at both professionals and a broader audience.

Financial crises have been pervasive for many years. Their frequency in recent decades has been double that of the Bretton Woods Period (1945-1971) and the Gold Standard Era (1880-1993), comparable only to the period during the Great Depression. Nevertheless, the financial crisis that started in the summer of 2007 came as a great surprise to most people. What initially was seen as difficulties in the U.S. subprime mortgage market, rapidly escalated and spilled over first to financial markets and then to the real economy. The crisis changed the financial landscape worldwide and its full costs are yet to be evaluated. One important reason for the global impact of the 2007-2009 financial crisis was massive illiquidity in combination with an extreme exposure of many financial institutions to liquidity needs and market conditions. As a consequence, many financial instruments could not be traded anymore, investors ran on a variety of financial institutions particularly in wholesale markets, financial institutions and industrial firms started to sell assets at fire sale prices to raise cash, and central banks all over the world injected huge amounts of liquidity into financial systems. But what is liquidity and why is it so important for firms and financial institutions to command enough liquidity? This book brings together classic articles and recent contributions to this important field of research. It is divided into five parts. These are (i) liquidity and interbank markets; (ii) the public provision of liquidity and regulation; (iii) money, liquidity and asset prices; (iv) contagion effects; (v) financial crises and currency crises. The aim is to provide a comprehensive coverage of role of liquidity in financial crises.

Risk and Hyperconnectivity brings together for the first time three paradigms: new risk theory, neoliberalization theory, and connectivity theory, to illuminate how the kaleidoscope of risk events in the opening years of the new century has recharged a neoliberal battlespace of media, economy, and security. Hoskins and Tulloch argue that hyperconnectivity is both a conduit of risk and a form of risk in itself, and that it alters the ways in which we experience events and remember them. Through interdisciplinary dialogue and case study analysis they offer original perspectives on the key questions of risk of our age, including: What is the path to a balance between individual privacy and state (or corporate) security? Is hyperconnectivity itself a new risk condition of our time? How do remembering and forgetting shape citizen insecurity and cultures of risk, and legitimize neoliberal governance? How do journalists operate as public intellectuals of risk? Through probing a series of risk events that have already scarred the twenty-first century, Hoskins and Tulloch show how both established and emergent media are central in shaping past, present and future horizons of neoliberalism, while also propelling wide pressure for its alternatives on those ranging from economics students worldwide to potential political leaders cultivated by austerity policies.

Connections among different assets, asset classes, portfolios, and the stocks of individual institutions are critical in examining financial markets. Interest in financial markets implies interest in underlying macroeconomic fundamentals. In Financial and Macroeconomic Connectedness, Frank Diebold and Kamil Yilmaz propose a simple framework for defining, measuring, and monitoring connectedness, which is central to finance and macroeconomics. These measures of connectedness are theoretically rigorous yet empirically relevant. The approach to connectedness proposed by the authors is intimately related to the familiar econometric notion of variance decomposition. The full set of variance decompositions from vector auto-regressions produces the core of the 'connectedness table.' The connectedness table makes clear how one can begin with the most disaggregated pair-wise directional connectedness measures and aggregate them in various ways to obtain total connectedness measures. The authors also show that variance decompositions define weighted, directed networks, so that these proposed connectedness measures are intimately related to key measures of connectedness used in the network literature. After describing their methods in the first part of the book, the authors proceed to characterize daily return and volatility connectedness across major asset (stock, bond, foreign exchange and commodity) markets as well as the financial institutions within the U.S. and across countries since late 1990s. These specific measures of volatility connectedness show that stock markets played a critical role in spreading the volatility shocks from the U.S. to other countries. Furthermore, while the return connectedness across stock markets increased gradually over time the volatility connectedness measures were subject to significant jumps during major crisis events. This book examines not only financial connectedness, but also real fundamental connectedness. In particular, the authors show that global business cycle connectedness is economically significant and time-varying, that the U.S. has disproportionately high connectedness to others, and that pairwise country connectedness is inversely related to bilateral trade surpluses.

With the security services under resourced for the demands now being placed upon them, the Government have decided, as a temporary measure, to recruit some suitably experienced former Senior NCOa s to fulfil this role. As they are to have a slightly different role from that of MI5 and Special Branch they are to be referred to as the a Praetoriansa which of course was the name given to the elite guard given to those protecting the Roman Generals in ancient times. In the following story we follow the adventures of one of these men as he endeavours to protect his Minister both here in the United Kingdom and on her journeys overseas.

Through a diversity of primary source resources that include works by politicians and literary figures, book reviews, and interviews, this book enables student readers to better understand literature of the Great Depression in context through original documents. Oklahoma drought refugees seeking livelihood in California, rural white Mississippians, and African American migrants making new lives in Chicago all represented the dramatic transitions across the spectrum of American life during the Great Depression. These vastly different groups of Americans still shared common experiences of desperation and poverty during the 1930s. This book focuses on literary works by three Depression-era authors—William Faulkner, John Steinbeck, and Richard Wright—and supplies dozens of primary source documents that serve to illuminate the harsh realities of life in the 1930s and enable students to better appreciate key pieces in American literature from the Great Depression era. The Depression Era: A Historical Exploration of Literature gives readers historical context for multiple works of American literature about the Great Depression through a wide range of features, including chronologies, essays explaining key events, and primary document excerpts as well as support materials that include activities, lesson plans, discussion questions, topics for further research, and suggested readings. The book's coverage includes William Faulkner's As I Lay Dying (1930), John Steinbeck's Of Mice and Men (1937), The Grapes of Wrath (1939), and Richard Wright's Native Son (1940).

While the depth and sophistication of South Africa’s financial and capital markets are lauded by indices the world over, South Africa is also considered to be the most unequal society in the world. The Economy On Your Doorstep probes the reasons for this tragic paradox of South African life and tries to go through and beyond the graphs, margin calls, trading updates, indices and earnings reports to explain how economic ‘actions’ frame the lives of South Africans in a transitional society faced with the challenges of unemployment, poverty and inequality.

The economy is and always has been primarily about ‘people’. How they live, what they produce, under what conditions and what social, political and environmental factors influence decisions of consumption, investment and distribution – and how they act under conditions of uncertainty, scarcity, need and crisis. After all, economies are about people coming together to produce, exchange, distribute and consume goods and services that emerge from their communities and those of others. How and under what conditions can we ensure the expansion of our productive forces, while expanding access to the base of assets, services and support that allow for the social reproduction of our entire society and workforce?

Ayabonga Cawe outlines some key areas that can and should define a policy agenda towards a ‘people’s economy’ in South Africa and the long-term objectives of such a policy programme, and engages with the political economy of 21st century South Africa through an analysis of a few selected areas of the economy and the implications of this for policy action. This is what this book is about – an exposition of what we see around us and an explanation and discussion of possible ways beyond it.

In this well-researched book, Ayabonga Cawe, a development economist, columnist and broadcaster, makes sense of the post-apartheid political economy through the lives of the many people who live and survive in it every day.

The impact of the COVID-19 pandemic - at the interlocking levels of politics, economy, and society - have been different across regions, states, and societies. In the case of the Middle East and North Africa, which was already in the throes of intense tumult following the onset of the 2011 Arab Spring, COVID's blows have on the one hand followed the trajectory of some global patterns, while at the same time playing out in regionally specific ways. Based on empirical country-level analysis, this volume brings together an international team of contributors seeking to untangle how COVID-19 unfolds across the MENA. The analyses are framed through a contextual adaptation of Ulrich Beck's famous concept of "risk society" that pinpointed the negative consequences of modernity and its unbridled capitalism. The book traces how this has come home in full force in the COVID-19 pandemic. The editors, Larbi Sadiki and Layla Saleh, use the term "Arab risk society". They highlight short-term and long-term repercussions across the MENA. These include socio-economic inequality, a revitalized state of authoritarianism challenged by relentless democratic struggles. But the analyses are attuned to problem-solving research. The "ethnographies of the pandemic" included in this book investigate transformations and coping mechanisms within each country case study. They provide an ethically-informed research praxis that can respond to the manifold crises crashing down upon MENA polities and societies

This book addresses the different forms of austerity, contestation and resistance, in order to understand how they relate to one another and the impact they have on the democratic quality of public debates, the trust in public institutions and the legitimacy of law. Contestation of austerity includes not only traditional activism strategies such as human rights litigation and direct democracy instruments, but also new forms of collective action and collaborative resistance. Most importantly, many of the new anti-austerity initiatives also aim to renovate existing modes of democratic decision-making on the European, national, regional and local levels. The book focuses on different types of contesting austerity measures and the interaction between institutional and civil society actors. It will enhance understanding of how the various actors frame not only their goal but also the underlying social conflict to contest austerity and through which means they try to achieve political and legal changes. With 16 chapters written by contributors from Spain, Germany, Greece, Portugal and the UK, the book approaches 3 crucial areas of austerity policies: cuts in payment and pensions, labour law reform, and old and new poverty. In each field, the contributors analyse the processes of decision-making and contestation from 3 perspectives: institutions, democratic theory and societal responses.

Coronavirus caused a significant tourism crisis in Portugal in 2020. This book aims to analyze the situation and proposes practical local solidarity and business models for information and knowledge dissemination about/against the pandemic causes/impact. It includes suggestions and rules to be used by social actors to better cope with Covid-19. These suggestions may augment their social solidarity, inclusive practices, citizenship education, and lifelong learning opportunities, within a safe, resilient, and sustainable city. Such recommendations may also inspire other socioeconomic stakeholders, medium/small corporations, ONGs, associations, and local communities to develop and diffuse such instruments. The book aims to revitalize cultural tourism industries and services during and after the Covid-19 pandemic by helping create jobs in the areas of restoration, leisure, and culture via enhancement of knowledge transfer among universities, innovating industries, tourism agencies, museums, etc. This book is ideal for researchers, teachers, students, and other social agents within scientific communities, in connection with the above-mentioned scientific purposes, applied to technological and social needs.

After the COVID-19 outbreak in 2020, societies, economies, countries, and regions face unprecedented challenges in mainly the health, social, economic dimensions simultaneously. Countries need to recover pre-pandemic economic growth quickly, boost productivity and job creation, invest in smart healthcare systems and services, and work towards a climate-neutral and circular economy. On the one hand, companies and economies need to use the opportunities of the transition to a greener economy. The demand for greener products and services can boost the creation of new jobs. On the other hand, circular economy, with its potential impact on the life cycle of products, can contribute to the creation of sustainable growth and jobs. This book explores new and emerging frameworks, tools, strategies to support companies and economies towards the green and digital transformation in Asia, with special focus on ASEAN. It will analyze the role of disruptive technologies, cutting-edge green technologies and in these emerging practices in Asia and how they can boost the creation of new business opportunities, more jobs and economic growth for the recovery of Asian economies in post-covid-19 scenarios. The book aims is an international platform to bring together academics, scholars, researchers, decision makers, policy makers, and practitioners to share new theories, research findings, and case studies, to enhance understanding and collaboration in green growth, digital economy, environmental impact, green public procurement, sustainable performance, the transition to a more circular economy, and more in Asia, with a special focus on ASEAN.

While crises do not occur frequently, their impact can be devastating as organizations are still vulnerable to man-made and natural crises. From terrorism, environmental, scientific, financial, political, pandemic to natural disasters, crises can occur at any moment, and if not managed efficiently and effectively can be disastrous. Thus, businesses can suffer not only loss of profit, but the ultimate demise of their business. It becomes increasingly difficult, at times, to prevent crises such as these. It then becomes difficult to develop practical means that can mitigate their undesirable effects once they occur. For instance, globally, businesses and industries of all sizes have experienced the effects of COVID-19, an external pandemic. The recovery process requires SMEs to rearrange and reestablish their missions, goals, and infrastructure of the business. This is an overwhelming challenge of recovering. Historically, academics and practitioners have developed various management methodologies and technologies to help business manager's deal with challenges in their environments, yet many businesses fail. Thus, these challenges need to be researched more closely in order to overcome business failure. Many of these challenges are external events in which firms need to adapt and react. Getting the right adaptation and reaction to these external events will depend on whether a firm continues with success or fails altogether. Companies may fail due to their inability to properly respond to a crisis, whether it be a business or organizational crisis. This book will identify strategies of SMEs that have recovered and how they recovered for preparation for future crises and other external impacts. It will showcase the resulting impact of external events such as environmental impact, like fires, or other impacts like the COVID-19 pandemic on businesses and educational entities. Specifically, it will discuss how SMEs or other businesses reacted through unexpected crisis. Therefore, the empirical contributions can be helpful for future entrepreneurs and current SMEs. The book will focus on external crisis including widespread environmental destruction, natural disasters, pandemic, sabotage by outsiders, and/or terrorism, and how firms can adapt and react.

Puerto Rico is experiencing its deepest economic crisis since the first half of the twentieth century. The unique political and economic relationship between the US and Puerto Rico arguably plays a fundamental role in this crisis. With these in mind and given the imposition of the Financial Oversight Management Board by the US government, this book presents policy recommendations to help Puerto Rico achieve sustainable development. A set of partial equilibrium models are employed to study important industrial policy options and trade issues. This book also discusses the potential role of market-based environmental policies as well as issues of income convergence. The method of analysis to study the Puerto Rico-US relationship presented in this book is entirely new to the literature and the analysis of market-based environmental policy. The overarching result is that it is in the best interest of Puerto Rico and the US to set economic policies consistent with an equilibrium characterized by political independence (i.e., national sovereignty) for Puerto Rico. The potential for sustainable economic growth and development is latent in Puerto Rico's economy. But for factors of production to be used effectively and efficiently, Puerto Rico's economy requires access to international markets at sufficiently lower transaction costs, a condition consistent primarily in an equilibrium characterized by political independence. Access to international markets at sufficiently lower costs would help, inter alia, restore market credibility, regain access to credit markets at bearable costs and achieve important efficiency gains. This book argues that international trade ought to be at the center of development and growth policy. Importantly, it argues on the grounds of efficiency that not only is it in the best interest of the US to help Puerto Rico move gradually towards an equilibrium consistent with political independence, but that a statehood-like equilibrium is inefficient, particularly if a higher degree of access to global markets is at the center of policy formulation. I hope the discussion presented in this book signifies an important contribution to the policy debate in order to address Puerto Rico's economic challenges.

As global markets toppled during the 2008 financial crisis, the Canadian market for non-bank asset-backed commercial paper (ABCP) seemed on the verge of collapsing. Fueled by a top rating from DBRS, ABCP had found its way into the portfolios of some of Canada's most sophisticated investors as well as vulnerable retail investors who didn't know what they were holding. The failure of the $32 billion market could have tipped Canadian and foreign credit default swap markets into chaos if it weren't for the swift actions of a few powerful asset holders. Collectively, through the Montreal Accord and led by veteran Canadian lawyer Purdy Crawford, they managed to hold the Canadian ABCP market back from the brink of collapse by crafting a complex and innovative solution. Back from the Brink goes behind the scenes of the ABCP crisis to examine how a solution was reached and lessons learned that could prevent or mitigate future crises. The authors also examine the imaginative use of the Companies' Creditors Arrangement Act and describe the roles played by the banks, the major investors, rating agencies, and the financial regulators in the crisis's origins and conclusions. Back from the Brink holds important lessons for anyone interested in Canadian law, the future of complex investments, and Canada's capital markets.

Situates the current crisis in the historical trajectory of the capitalist world-system, showing how the crisis was made possible not only by neoliberal financial reforms but by a massive turn away from manufacturing things of value towards seeking profit from financial exchange and credit. Much more basic than the result of a few financial traders cheating the system, this is a potential historical turning point. In original essays, the contributors establish why the system was ripe for crisis of the past, and yet why this meltdown was different. The volume concludes by asking whether as deep as the crisis is, it may contain seeds of a new global economy, what role the US will play, and whether China or other countries will rise to global leadership. Contributors include: Giovanni Arrighi, Gopal Balakrishnan, Manuel Castells, Daniel Chirot, Fernando Coronil, Nancy Fraser, James K. Galbraith, David Harvey, Caglar Keyder, Beverly J. Silver, and Immanuel Wallerstein. The three volumes can purchased individually or as a set. Business as Usual is the first part of a trilogy comprised of the first three books in the Possible Future series. Volume 1: Business as Usual Volume 2: The Deepening Crisis Volume 3: Aftermath The three volumes are linked by a common introduction and can be purchased individually or as a set.