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Books > Business & Economics > Economics > Macroeconomics
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The Endless Crisis - How Monopoly-Finance Capital Produces Stagnation and Upheaval from the USA to China (Paperback)
Loot Price: R507
Discovery Miles 5 070
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The Endless Crisis - How Monopoly-Finance Capital Produces Stagnation and Upheaval from the USA to China (Paperback)
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Loot Price R507
Discovery Miles 5 070
Expected to ship within 10 - 15 working days
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The days of boom and bubble are over, and the time has come to
understand the long-term economic reality. Although the Great
Recession officially ended in 2009, hopes for a new phase of
economic expansion were quickly dashed. Instead, growth has been
slow, unemployment has remained high, wages and benefits have seen
little improvement, poverty has increased, and the trend toward
more inequality of incomes and wealth has continued. It appears
that the Great Recession has given way to a period of long-term
anaemic growth, which Foster and McChesney aptly term the Great
Stagnation.This incisive and timely book traces the origins of
economic stagnation and explains what it means for a clear
understanding of our current situation. The authors point out that
increasing monopolization of the economy-when a handful of large
firms dominate one or several industries-leads to an over-abundance
of capital and too few profitable investment opportunities, with
economic stagnation as the result. Absent powerful stimuli to
investment, such as historic innovations like the automobile or
major government spending, modern capitalist economies have become
increasingly dependent on the financial sector to realize profits.
And while financialisation may have provided a respite from
stagnation, it is a solution that cannot last indefinitely, as
instability in financial markets over the last half-decade has made
clear.
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