Tag: 2008 economic crisis

  • The U.S.-Turkey Stand-off in Context

    The U.S. and the Weaponization of Global Finance Turkey was thrust into a full-blown currency crisis when U.S. President Donald Trump hoisted tariffs on Turkey’s steel and aluminium exports to the USA, the country’s most serious crisis since Recep Erdogan’s AKP came to power 16 years ago. The Lira lost more than 40 percent of its … Keep reading »

  • The Time of Finance

    The global financial crisis has done next to nothing to change the convictions of mainstream economists. But the widespread lament over their willful blindness seems misplaced: there was never a realistic possibility that the economics profession would voluntarily break with the methodological sophistication and statistical formalism at the heart of its identity. Keep reading »

  • Underestimating Capital, Overestimating Labour

    A Response to Andrew Kliman What caused the 2008 economic crisis? In an article published earlier this year, political economist Sam Gindin explained it “primarily as a financial crisis.” Writing for New Left Project, Andrew Kliman rejected this analysis, arguing that, had the crisis really been mainly financial, the economy would have recovered by now. Here, … Keep reading »

  • The Elusive Recovery

    The world capitalist crisis which began in 2008 not only persists but is worsening. The second half of the current year [2013] was supposed to be the period when growth in the major advanced countries would gather momentum. The IMF had predicted in spring that activity would “gradually accelerate.” Keep reading »

  • Turkey: Crisis at Home, Crisis in the World*

    Brazil, India, Indonesia, South Africa and Turkey are encountering significant economic turbulence. Since late 2008, the U.S. Federal Reserve has been pumping liquidity into financial markets, amounting to $85-billion a month since last December. The cheap money enabled by low short and long term interest rates flooded into “emerging markets” with the expectations for higher … Keep reading »

  • In and Out of Crisis

    The Global Financial Meltdown and Left Alternatives With the recent publication of their new book on the financial crisis and the crisis of the North American Left, In and Out Of Crisis (PM Press, 2010), ZNet took the opportunity to interview Greg Albo, Sam Gindin and Leo Panitch on some of the themes of the book … Keep reading »

  • Roots of the Economic Crisis: Critical Perspectives

    This workshop explores alternative interpretations of the current economic crisis. The presentations are from organized labour, community activists and academics. The focus of this workshop is critical engagement, discussion and debate. Presentations by Andrew Jackson, Toby Sanger and Justin Paulson. Watch video »

  • Economic Crisis Hits States and Municipalities

    Crises expose the system’s irrationalities and wasteful resource allocations. For example, Madoff and his many, smaller imitators reveal the tips of corruption icebergs. More important, the crisis-induced fiscal emergencies looming in most of the 50 states demonstrate several absurdities in our economic system. The Center on Budget and Policy Priorities (CBPP) in Washington, DC monitors … Keep reading »

  • World Slump

    The Financial Crisis and Emerging Class Struggles in the Global South Toronto, June 28, 2009 – The political period that has opened up since the financial turbulence of 2007 began to grip the world market has led to both a crisis of neoliberalism and an attempt to reconstruct it. The overaccumulation of capital in key sectors … Watch video »

  • Canada’s Big Five: Banking on the Crisis?

    On the eve of the G-20 summit in London, Prime Minister Harper sang the praises of Canada’s big banks to the UK financial press: “[we have] the most free-enterprise financial sector in the world. We’re the only one not nationalising or partially nationalising or de facto nationalising [the banks].” According to the Financial Times, which … Keep reading »

  • The Financial Crisis: a Socialist Perspective

    Montreal, February 21, 2009. A strategy with short and medium term demands, geared to fostering the relation of forces necessary to move beyond capital. Presentation by Sam Gindin. Introduction by Roger Rashi I am a member of the organizing committee of Masse Critique, which is a collective inside Quebec Solidaire dedicated to popular education over … Watch video »

  • The Financial Crisis and American Power

    An Interview with Leo Panitch What is your assessment of the relationship between this serious financial crisis emerging foremost in the U.S. and American power and economic decline? I don’t think that U.S. hegemony has waned, and I don’t think it’s about to wane in the very near future, despite the current financial crisis. In my … Keep reading »