Something dramatic happened in the late summer and autumn of 2008.
The post-Cold War world came to an abrupt end. This was the result
of two conjoined crises. First, in its brief war with Georgia in
August 2008, Russia asserted its military power to halt the
expansion of NATO to its very borders. Secondly, on 15 September
2008 the Wall Street investment bank Lehman Brothers collapsed.
This precipitated a severe financial crash and helped to push the
world economy into the worst slump since the 1930s.
Both crises marked a severe setback for the global power of the
United States, which had driven NATO expansion and forced through
the liberalization of financial markets. More broadly they
challenged the consensus that had reigned since the collapse of the
Soviet bloc in 1989 that a US-orchestrated liberal capitalist order
could offer the world peace and prosperity. Already badly damaged
by the Iraq debacle, this consensus has now suffered potentially
fatal blows.
In "Bonfire of Illusions" Alex Callinicos explores these twin
crises. He traces the credit crunch that developed in 2007-8 to a
much more protracted crisis of overaccumulation and profitability
that has gripped global capitalism since the late 1960s. He also
confronts the interaction between economic and geopolitical events,
highlighting the new assertiveness of nation-states and analysing
the tense, complex relationship of interdependence and conflict
that binds together the US and China. Finally, in response to the
revelation that the market is not the solution to the world's
problems, Callinicos reviews the prospects for alternatives to
capitalism.
General
| Imprint: |
Polity Press
|
| Country of origin: |
United Kingdom |
| Release date: |
March 2010 |
| First published: |
2010 |
| Authors: |
Alex Callinicos
|
| Dimensions: |
215 x 138 x 15mm (L x W x T) |
| Format: |
Paperback
|
| Pages: |
144 |
| ISBN-13: |
978-0-7456-4876-7 |
| Categories: |
Books
Promotions
|
| LSN: |
0-7456-4876-2 |
| Barcode: |
9780745648767 |
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