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Crisis Management

Crisis Management


Many intellectuals, Jurgen Habermas among them, argue that the management of the financial crisis undermines democracy. The COST-Network ‘Systemic Risks, Financial Crises and Credit’ invites papers that critically examine this claim.

Do financialization and the management of the financial crisis circumscribe democratic institutions and processes? If yes, what are the mechanisms that restrict democracy?


Potential themes include:

–  The sources of power of financial actors

–  The role of knowledge networks in crisis management

–  Conflicting crisis narratives

–  Restructuring the State to accommodate financial capital

–  New hierarchies among nations

–  Diffusion of policy concepts and policy learning processes

–  Resistance and civil society


October 11, 2012 to October 13, 2012

Kassel University, Germany

Deadline for Submission of Abstracts: 15th June 2012
Successful candidates will be notified by: 30th June 2012
Deadline for papers: 1st Oct 2012
Please send your abstracts to:


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Global Economic Crisis


International Socialism
A seminar hosted by the quarterly journal of socialist theory

Marxism and the Alternatives to Crisis

It has been three years since the economic crisis first manifested. The credit crunch has given way to financial crash and the Great Recession. The ruling classes of Europe, faced with a growing crisis in the Eurozone, have embraced austerity and cuts in order to shift the cost of the crisis to workers, students and the unemployed.

In response, we have seen movements of resistance right across Europe. In countries like Greece, France and Ireland, strikes and protests have been complemented by alternative programmes and debates about the way forward for the movement. In Britain, the student revolt has marked a turning point in the struggle. This seminar will bring together academics and activists to discuss the current situation and what lies ahead.


Alex Callinicos: (Editor of International Socialism and Professor of European Studies at Kings College London)

Jane Hardy: (Author of Poland’s New Capitalism and Professor of Political Economy at the University of Hertfordshire)

Stathis Kouvelakis: (Author of Philosophy and Revolution and lecturer at Kings College, London)

Costas Lapavitsas: (Member of Research on Money and Finance and Professor of Economics at the School of Oriental and African Studies)

Tuesday 7 December, 6.30pm
Brunei Lecture Theatre,
School of Oriental and African Studies,
Russell Square campus,
London, WC1H 0XG

Free entry – All welcome * * (020) 7819 1177

International Socialism
+44 (0)20 7819 1177

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Crisis Sublime



The Journal of Critical Globalisation Studies invites submissions for a Special Issue on ‘The Idea of Crisis’.

The concept of ‘crisis’ has a long and complex lineage in the human sciences. On the one hand, it has been consistently deployed to understand issues of order and change since at least the 18th century. Influential contributions run the gamut from Marx on the evolution of macro-social structures all the way through to Lacan on how the individual finds and maintains its place within these. On the other hand, its sheer ubiquity and apparent polyvalence have served to render the concept an object of inquiry in its own right. Conceptual historian Reinhart Koselleck, for example, has written at length on how the term’s meanings and referents have varied across space and time.

In the contemporary study of global politics, this richness of meaning is on full display. Indeed, both during and after the Great Credit Crash of 2007-2009, the notion of ‘crisis’ has been widely employed in a range of different ways. For example, it has been used to identify different periods in world history and to account for specific pathways of institutional transformation; to describe the contradictions that underpin the failure of a political or economic system to function, and to understand the interpretive struggles triggered by the recognition of these failures. Within the very broad remit of thinking about ‘The Idea of Crisis’, the Journal of Critical Globalisation Studies invites full-length articles, essays (pieces up to 5,000 words), and book reviews for its fourth issue. The aim of the special issue is to bring together academics from a range of disciplinary backgrounds in order to explore how different theories of crisis or change may feed into the historical process itself.

The editors particularly welcome pieces that explore some of the following questions (although without intending to proscribe any other avenues contributors may wish to explore):

– How have theories of crisis changed over time?

– How do these changes relate to ongoing meta-theoretical debate in the human sciences, broadly conceived?

– What is the relationship between theories of crisis and other theories of order and change?

– Which theories or visions of crisis have emerged or rose to prominence during the crisis of 2007-2009? How are we to interpret this?

– How might we understand ‘the Idea of Crisis’ as an historical force? What is its historical significance?

To be considered for publication, contributions must be submitted electronically as email attachments to .

The submission deadline is 1st December 2010. Manuscripts should be prepared according to the journal’s guidelines which are available on the website. For more information about the themes of the special issue in advance of the deadline for full manuscripts, please contact the editor-in-chief for issue 4, Amin Samman:  


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It starts tomorrow,

When I go to work’

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Credit Crunch



The Great Credit Crash




Most accounts of the current financial crisis tell a story of deregulation, out-of-control markets and irresponsible speculation. But few of those works have done more than regurgitate the newspaper coverage. In contrast, THE GREAT CREDIT CRASH digs deeper, drawing on some of the most prominent radical analysts of the modern market to foreground key questions that are still waiting to be answered.

This volume presents a more complete and convincing analysis of the recent economic disaster, which is revealed as a product of a social order built during the triumphalist years of neoliberal capitalism. The essays are collected across sections examining the origins and causes of the crisis, its global dimensions, and the political ramifications of the credit crash, with contributors assessing current events and political responses and critically examining official rhetoric and hegemonic narratives to point the way to an understanding of the crisis that goes beyond the subprime headlines.

Contributors to the volume include: Walden Bello, Peter Gowan, Stanley Aronowitz, Leo Panitch, Dick Bryan, Gary A. Dymski, Thomas Ferguson, Sam Gindin, Michael Hudson, Robert Johnson, James Livingston, Scott MacWilliam, Johnna Montgomerie, Anastasia Nesvetailova, Ronen Palan, Michael Rafferty, William I. Robinson, Herman Schwartz, Susanne Soederberg, Jeffrey Sommers, Henry Veltmeyer.


Praise for the contributors:

Walden Bello: “The world’s leading no-nonsense revolutionary.” – Naomi Klein

“The world’s best guide to American exploitation of the globe’s poor and defenceless.” – Chalmers Johnson

Peter Gowan: “One of the most formidable intellects among young radicals from the 1960s New Left….[an] intellectual giant” – Misha Glenny, The Guardian

Stanley Aronowitz: “To say that Stanley Aronowitz is a national treasure is an understatement.” – Peter McLaren, UCLA


MARTIJN KONINGS is a lecturer in the Department of Political Economy at the University of Sydney . He is co-editor with Leo Panitch of American Empire and the Political Economy of Global Finance.


ISBN: 978 1 84467 431 2 / $26.95 / £19.95 / CAN$33.50 / Paperback / 416 pages

ISBN: 978 1 84467 433 6 / $100.00 / £60.00 / CAN$118.50 / Hardback / 416 Pages


For more information visit:

To buy the book in the UK :


To buy the book in the US :




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Capitalist Trickle Down


Socialists and the Capitalist Recession

IIRE/Socialist Resistance, Notebook for Study and Research no. 39/40, (216 pp.)

With shipping to: Europe €14,50 Rest of World €21,00

http://iire. org/en/component /content/ article/18- notebooks- for-study- and-research/ 184-socialists- and-the-capitali st-recession. html

The credit crunch of 2008 produced an international recession in 2009. In this new book Claudio Katz and Michel Husson, both fellows of the International Institute for Research and Education, and SSP activist Raphie de Santos lead an attempt not to only to describe the present crisis, but also to understand its causes and debate socialist solutions.

This 216-page book brings together much of the most powerful socialist analysis of the recession.

Sean Thompson shows how neoliberal globalisation has an inbuilt tendency towards deflation. As explained in the article by François Sabado, the period since the turn of the century has been a disaster for American capitalism; first the catastrophe in Iraq and of the Bush government in general, and now an economic collapse that has completely undermined neoliberalism’s ‘Washington Consensus’.

The ideologues of capitalism are on the defensive. But the Marxist explanation of the crisis has to be hammered home. Who caused this crisis? Why did it occur? What is it in capitalism that leads to the globalisation of poverty while a tiny elite become mega-wealthy? And what are possible alternatives? This book is a signal contribution to making those arguments.

To give the socialist analysis in this book strong foundations the book also includes ‘The Basic Ideas of Karl Marx’, an outline by Ernest Mandel of the core ideas of scientific socialism.

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Education Crisis


Journal of Education Policy – After 25 Years

2010 is the 25th year of JEP. To mark the occasion we will running a special seminar and publishing a special issue of the Journal.

JEP25 Seminar, 24th June 2010, Institute of Education, London

Education, Capitalism and Crisis

The day will be organised around and in response to Andrew Gamble’s recently published book The Spectre at the Feast: Capitalist Crisis and the Politics of Recession, and Professor Gamble will introduce the seminar.  Also taking part are: Susan Robertson, David Hartley, John Clarke and Janet Newman, Ivor Goodson (other speakers to be confirmed).

Places will be limited: to book  a place email:

Stephen J Ball FBA AcSS
Karl Mannheim Professor of Sociology of Education
Editor Journal of Education Policy
Education Foundations and Policy Studies
Institute of Education
University of London
20 Bedford Way
London WC1H 0AL
United Kingdom

Institute of Education, University of London

EFPS – ‘critical research for social justice’:


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A Crisis of Capital


The Economic Crisis Reader
Date of publication: November 2009

    • Introduction
    • 1. General Explanations
        • 1.1    Inequality, Power, and Ideology Arthur MacEwan
        • 1.3    Recession, Depression, Repression: What’s in a Name? John Miller
        • 1.3    That ’70s Crisis Alejandro Reuss
        • 1.4    Crisis and Neoliberal Capitalism David Kotz
        • 1.5    Capitalism Hits the Fan Richard D. Wolff
        • 1.6    We’re All Minskyites Now Robert Pollin
        • 1.7 The “Credit Tsunami” Steve Keen
        • 1.8 Profits, the Business Cycle, and the Current Crisis Paul Mattick
        • 1.9    The Greed Fallacy Arthur MacEwan
    • 2. Warning Signs
        • 2.1 Bubble Trouble Dean Baker
        • 2.2 A House of Cards Tamara Draut and Adria Scharf
        • 2.3    (Mis)Understanding a Banking Industry in Transition William K. Black
        • 2.4    America’s Growing Fringe Economy Howard Karger
        • 2.5    Financialization: A Primer Ramaa Vasudevan
        • 2.6    Private Equity Exposed Orlando Segura, Jr.
        • 2.7    Hedge Funds Arthur MacEwan
        • 2.8    The Fed and America’s Distorted Expansion Thomas I. Palley
        • 2.9    Who Cares If Bear Stearns Fails? Arthur MacEwan
        • 2.10 Can the Fed Handle a Systemic Crisis? Maybe.Jane D’Arista
    • 3. The Housing Crisis
        • 3.1    The Homeownership Myth Howard Karger
        • 3.2    Confidence Trick John Miller
        • 3.3    Renters in the Crosshairs Daniel Fireside
        • 3.4    How to Stop the Foreclosures? Fred Moseley
        • 3.5    The Fannie/Freddie Bailout Fred Moseley
        • 3.6    Who Gets Those Trillions? Arthur MacEwan
    • 4. The Financial Crisis
        • 4.1    From Tulips to Mortgage-Backed Securities Gerald Friedman
        • 4.2    Ponzi Schemes and Speculative Bubbles Arthur MacEwan
        • 4.3    Derivatives and Deregulation Marty Wolfson
        • 4.4    Dealing with a Rotten Tooth Arthur MacEwan
        • 4.5    Time for Permanent Nationalization! Fred Moseley
        • 4.6    Trust Your Gut William Greider
    • 5. Monetary Policy
        • 5.1    Pushing on Strings Gerald Friedman
        • 5.2    Bernanke’s Bad Teachers Gerald Friedman
        • 5.3    The Bailouts Revisited Marty Wolfson
        • 5.4    Focus on the Fed William Greider
        • 5.5    Keynes and the Limits of Monetary Policy Alejandro Reuss
    • 6. Fiscal Policy
        • 6.1 Stimulus Whining John Miller
        • 6.2    How I Learned to Stop Worrying and Love the Deficit John Miller
        • 6.3    Responding to Revisionism Gerald Friedman
        • 6.4    Fiscal Policy and “Crowding Out” Alejandro Reuss
        • 6.5    Why Are Things Getting Worse and worse? Arthur MacEwan
        • 6.6    The Economic Crisis in the Sates Gerald Friedman
        • 6.7    State Budget Blues Marianne Hill
        • 6.8    Bail Out the Safety Net Randy Albelda
        • 6.9    Saving Energy Creates Jobs Heidi Garrett-Peltier
        • 6.10 A New WPA? Ryan A. Dodd
        • 6.11 Rebuilding the Auto Industry from the Wheels Up Alejandro Reuss
    • 7. The International crisis
        • 7.1    Putting the “Global” in the Global Economic Crisis Smriti Rao
        • 7.2    (Economic) Freedom’s Just Another Word for…Crisis-Prone John Miller
        • 7.3    The Specter of Capital Flight Marie Duggan
        • 7.4    Tax Havens and the Financial Crisis Rachel Keeler
        • 7.5    Beyond the World Creditors’ Cartel Dariush Sokolov
        • 7.6 No Bailout for AIDS Mara Kardas-Nelson
        • 7.7 Beijing Statement on the Global Economic Crisis
        • 7.8 Caracas Statement on the Global Economic Crisis

    • 8. Workers and the Crisis
        • 8.1    The Global Crisis and the World Labor Movement Dan LaBotz
        • 8.2    The Real Audacity of Hope Kari Lyderson and James Tracy
        • 8.3    Corporate America’s Counter-Stimulus Strategy Roger Bybee
        • 8.4    Worker Direct Action Grows in Wake of Financial Meltdown Immanuel Ness and Stacy Warner Maddern
        • 8.5    Gender and the Recession Heather Boushey
        • 8.6    The Real Unemployment Rate Hits a 68-Year High John Miller
        • 8.7    Unemployment Insurance: A Broken System Marianne Hill
        • 8.7    Should We Be Talking About Living Wages Now? Jeannette Wicks-Lim
    • Contributors

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Credit Crunch

Credit Crunch



We have just put online several of the papers from our May 2009 Soundings seminar (co-organised with the OU) on the credit crunch. Contributors are:

John Clarke, John Harris, Neal Lawson, Gavin Poynter, John Urry, Michael Rustin, Sylvia Walby

To read contributions go to

For information on Soundings 42, The killing fields of inequality, go to

To subscribe to Soundings for only £20 – by standing order only – download the standing order form at

You can send the form in to the freepost address shown at the bottom of the form – no stamp is needed.

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Capitalist Crisis

Capitalist Crisis



A paper by Robert Brenner (Center for Social Theory and Comparative History, UCLA) on What is Good for Goldman Sachs is Good for America: The Origins of the Current Crisis (18th April 2009) is now available at:


It’s 74 pages long – so stock up with ink and paper.

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High Finance

High Finance



Upcoming Events

5 November 2009, 5 – 7 pm, SOAS, London

Labour and the Curious Case of Mexican Bank Resilience
Thomas Marois, SOAS

Global Integration of the Turkish Economy in the Era of Financialisation
Nuray Ergunes, Maltepe University, Turkey

Emerging Economy Central Banks and the Crisis of 2007-09
Juan Pablo Painceira, SOAS

Financialisation and Regulation: The Fate of Basle II
Sedat Aybar, Kadir Has University, Turkey

For more information contact or see


International Conference
One Year on from the Panic of 2008: WHITHER FINANCIALISED CAPITALISM?
7 November 2009, 9 am to 6 pm, SOAS, London

09.00-09.45     Registration and Coffee

09.45-12.15     Welcome Addresses and Opening Plenary
Financialised Capitalism and the International Crisis
Gérard Duménil, National Centre for Scientific Research, Paris
Gary Dymski, University of California Center, Sacramento
Costas Lapavitsas, SOAS, London

12.15-13.15 Lunch

13.15-15.30 Parallel Sessions
Contemporary Finance, Regulation and the Real Economy
Malcolm Sawyer, Leeds University Business School
Jan Toporowski, SOAS, London
Paulo L dos Santos, SOAS, London
Varieties of Financialisation
Engelbert Stockhammer, Vienna University of Economics and Business
Trevor Evans, Berlin School of Economics
Claude Serfati, University of Saint-Quentin-en-Yvelines

15.30-15.45 Coffee

15.45-18.00 Plenary
The Social Costs and Implications of Financialisation
Karel Williams and Ismail Erturk, CRESC, Manchester
Andrew Leyshon, University of Nottingham
Robin Blackburn, University of Essex

For more information, contact, or visit

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Pink Tide

Pink Tide



2nd Call for Papers

The Pink Tide: Reconfiguring politics, power and political economy in the Americas?

Key-note speakers include: Noam Chomsky, William Robinson, John Holloway, Liam Kane, Marina Sitrin

22-24 January 2010, Centre for the Study of Social and Global Justice in conjunction with the Spanish, Portuguese and Latin American Studies Department, University of Nottingham, Nottingham,UK.

The global credit crunch and election to power of governments and presidents that identify as left and left-of-centre throughout the Americas offers one of the most visible political challenges to the TINA discourse that appeared to reign unchallenged for much of the past 15 years. With presidents such as Hugo Chavez in Venezuela, Bachelet in Chile and Obama in the United States the region and its peoples are experiencing one of the most exciting and dynamic political periods of recent history.

It is this political conjuncture that the conference would like to explore as it is the organisers belief that the development of our understanding of the political processes occurring will enable us to conceptualise and contribute to the furtherance of more inclusive democracy and development in the region and beyond. We believe that this discussion can be most fruitfully developed between academics, practitioners, policy-makers and community/social movement participants. We also believe that our understanding of the development of alternatives to neoliberalism can only be enhanced by intra-regional dialogue between the North and the South of the Americas.

The conference conveners welcome the participation of a wide range of actors (academics, scholar-activists, social innovators and practitioners) whose work is related to the following themes: the role of political parties and/or the state in social change; grassroots social movements; the creation of new forms of politics and development; LOC governments and neoliberalism; movement and academic knowledges; the US and the ‘Pink Tide’; opposition to ‘pink  tide’; culture/art/media and social change. We particularly encourage cross-disciplinary contributions.

Various kinds of contributions will be considered, both in situ and remotely. We invite proposals for panels, individual paper and poster presentations, round-table debates, workshops and open spaces. Please could you send a 250 words abstract of your proposed contribution clearly stating the authors postal address, email, phone number and institution to by 20 September 2009.

For further information, please see the Events page on the CSSGJ website:

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10.30am-4.30pm, Saturday 20 June 2009
120 Belsize Lane, London NW3

(nearest tube stations Belsize Park and Finchley Road)

As the political fault lines of a new era take shape, what will be the defining politics of the next decade?

In the wake of an era of social dislocation and rapid change one response will be a popular search for belonging and cultural familiarity. Our discussion will explore the popular reactions to the social fragmentation, inequalities and cultural destruction of ways of life that have resulted from the decades of economic restructuring as well as from the recession. This is already evident in the rise of the BNP in certain areas, and the alienation of younger generations from electoral politics. A new political culture will need to articulate the social goods that give security, meaning and value to people: home, family, friendships, good work, locality and imaginary communities of belonging. The way people give priority to these, and the reaction to the threats against them, will shape the post-crash political landscape.

Registration: £25 (includes an excellent lunch).

To reserve a place, go to:
Or send a cheque payable to ‘Soundings’ to FREEPOST, LON 176, London, E9 5BR (no stamp is needed).

Places are limited so early booking is advisable.

10.30 – 11.45 Plenary 1: How the forces of global capital have been shaping people’s lives and livelihoods, with Paul Mason and Doreen Massey (tbc)

12pm to 1pm Plenary 2: Culture and belonging in an insecure world
Lynsey Hanley, further speaker tbc

1pm – 2pm lunch

2pm – 3pm
Workshop 1: The appeal of the BNP and how to counter it (speaker tbc)
Workshop 2: Gangs, territory and class (speaker tbc)

3.30 – 4.30pm Closing Plenary: political and policy engagement for a new socialism
Mike Kenny (IPPR) (tbc)
Leanne Woods (Plaid Cymru MWA)
Jonathan Rutherford

For more information on Soundings go to:


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