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The Great Recession and its implications for human values - Lessons for Africa (Paperback)
Loot Price: R293
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The Great Recession and its implications for human values - Lessons for Africa (Paperback)
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List price R375
Loot Price R293
Discovery Miles 2 930
You Save R82 (22%)
Expected to ship within 5 - 10 working days
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Total price: R313
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The earth has enough for everyone's need, but not everyone's greed.
- Mahatma Gandhi. The Great Recession, which started around 2007,
stands out as the most significant crisis of global capitalism
since the 1930s, both in scope and intensity. Although it was
triggered by developments in the financial sector in the United
States of America, its impact and implications have reverberated
across the globe. Virtually all countries have been unable to
escape its destructive swell: the interconnectedness that
globalisation has fostered made certain of that. As authors in this
book assert, the growing sectoral dominance of finance capital and
its rapacious licence are the immediate and prime causes of the
crisis. However, trends in the real economy over the past three
decades created a systemic underpinning to the crisis, and those
include the emergence of large corporate behemoths in manufacturing
and services, advances in information and communications
technologies and improvements in production techniques, the
off-shoring of production sites in search of cheap labour, and
household debt. At the same time, degradation of the environment
has proceeded apace. The period leading up to the Great Recession
was also characterised by high rates of economic growth in most
parts of the world. Combined with that was the lifting of swathes
of humanity from abject poverty. With a few exceptions,
particularly in Latin America, the manner in which the surplus is
apportioned has resulted in rising inequality, with women and youth
most adversely affected. That is the fundamental question of
political economy that most of the essays in this book seek to
address Humanity is faced with a poly-crisis straddling economics,
politics, and environmental and security issues. With that sense of
unguided drift, the need for debate on alternative approaches to
the management of social relations stands out in even bolder
relief, and that is precisely what the essays in this volume set
out to do. The book examines the crisis from theoretical and
empirical perspectives, and in some instances, the authors do not
quite concur on the approaches required. However, running like a
golden thread through all the inputs is that the State has a
critical role to play in reconfiguring social relations, proceeding
from the perspective that markets, left to their own devices, can
wreak havoc on the commons. Above all, social relations should be
premised on humane values.
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