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Capitalist Crisis

Capitalist Crisis

CAPITALISM, CRISIS AND ALTERNATIVES

Book Launch with Ozlem Onaran, Sean Thompson and Susan Pashkoff

Meet and hear some of the authors of the new title from Resistance Books:

Ozlem Onaran, Sean Thompson and Susan Pashkoff

WEDNESDAY 2 MAY, 7:30pm

Community Centre, 62 Marchmont Street, WC1N 1AB

(Kings Cross and Russell Square tubes)

 

Four years on from the start of the crisis, there is no recovery in sight. The Cameron-Clegg government may claim thatBritainis on the mend, but for the 99% of us the prospect for years to come is falling real incomes and insecurity. Meanwhile the Eurozone crisis rumbles on, with no strategy except deep austerity for countries like Italy and Spain, let alone Greece and Portugal.

This new book analyses the crisis in different regions and is a contribution to the debates about alternatives. In addition to a general analysis of the crisis including how it affects women, contributions coverBritain, the European Union, there are also contributions on the eco-socialist alternatives to capitalism.

 

CAPITALISM – CRISIS AND ALTERNATIVES 280 pages, £9 (inc p&p)

Available from Resistance Books, PO Box 62732, London, SW2 9GQ

 

Contents:

WHERE IS THE CRISIS GOING? Michel Husson

THE CRISIS IN BRITAIN, Andy Kilmister

AUSTERITY AND THE LIES THAT IMPOVERISH, Susan Pashkoff

A GREEN INDUSTRIAL REVOLUTION, Sean Thompson

MARXISM AND THE CRISIS, John Rees

A FISCAL CRISIS OR A CRISIS OF DISTRIBUTION? Ozlem Onaran

THE DEBT IN THE NORTH: SOME ALTERNATIVE PATHS, Eric Toussaint

WOMEN’S CRISES, Sandra Ezquerra

EASTERN EUROPEFACED WITH THE CRISIS OF THE SYSTEM, Catherine Samary

CHINA’S RISE AMIDST THE CRISIS, Jean Sanuk

LATIN AMERICA’S CRISIS, Claudio Katz

IN THE EYE OF THE STORM: THE DEBT CRISIS IN THE EUROPEAN UNION, Eric Toussaint

 

**END**

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‘The Lamb’ by William Blake – set to music by Victor Rikowski: http://www.youtube.com/watch?v=vw3VloKBvZc

 

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Economic Crisis

DEBT, THE IMF, AND THE WORLD BANK: SIXTY QUESTIONS, SIXTY ANSWERS

Debt, the IMF, and the World Bank: Sixty Questions, Sixty Answers
By Éric Toussaint and Damien Millet

Translated by Judith Abdel Gadir, Elizabeth Anne, Vicki Briault, Judith Harris, Brian Hunt, Christine Pagnoulle and Diren Valayden, with the collaboration of Francesca Denley, Virginie de Romanet and Stephanie Jacquemont

http://www.monthlyreview.org/books/sixtyquestions.php

ISBN: 978-1-58367-222-8
$17.95 paperback
368 pages
September 2010

Economics / Imperialism & War

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“This excellent handbook on the Washington-based international financial institutions and the debt mechanism by means of which the Global South is subjugated is not only an indispensable tool for pro-poor anti-debt activists, but also a very useful synthesis that can and should be used in classrooms.” —Gilbert Achcar, Professor of Development Studies School of Oriental and African Studies, University of London.

“Éric Toussaint is one of the brightest and most influential economists of his generation. He is the founder of the CADTM, and has gained a worldwide reputation for his exemplary struggle against the ‘odious debt’ strangling countless countries in the South.” —Jean Ziegler, former UN Special Rapporteur

Mainstream economists tell us that developing countries will replicate the economic achievements of the rich countries if they implement the correct “free-market” policies. But scholars and activists Toussaint and Millet demonstrate that this is patently false. Drawing on a wealth of detailed evidence, they explain how developed economies have systematically and deliberately exploited the less-developed economies by forcing them into unequal trade and political relationships. Integral to this arrangement are the international economic institutions ostensibly created to safeguard the stability of the global economy—the International Monetary Fund (IMF) and the World Bank —and the imposition of massive foreign debt on poor countries. The authors explain in simple language, and ample use of graphics, the multiple contours of this exploitative system, its history, and how it continues to function in the present day.

Ultimately, Toussaint and Millet advocate cancellation of all foreign debt for developing countries and provide arguments from a number of perspectives—legal, economic, moral. Presented in an accessible and easily-referenced question and answer format, Debt, the IMF, and the World Bank is an essential tool for the global justice movement.

Éric Toussaint, a doctor in political science, is president of the Committee for the Abolition of Third World Debt, CADTM Belgium. He is author of A Diagnosis of Emerging Global Crisis and Alternatives, and The World Bank: A Critical Primer, among other books.

Damien Millet teaches mathematics and is spokesperson for CADTM France. He is the author of L’Afrique sans dette, and co-author with Éric Toussaint of Tsunami Aid or Debt Cancellation.

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Capitalism in Crisis

Capitalism in Crisis

TOWARDS A MARXIST ANALYSIS OF THE GLOBAL CRISIS

 

The International Institute for Research and Education: http://www.iire.org

Seminar: Towards A Marxist Analysis of the Global Crisis

On 2-4 October, the IIRE held its first international Economy Seminar on the Global Crisis. Thirty-six participants, economists and non-specialists, from Europe, Africa, Asia and Latin America attended the three-day event which was open to activists from different tendencies of the radical left.

The objectives of the seminar were to analyse the nature, characteristics and consequences of the current global economic crisis, from perspectives relevant to social activists, and to fortify the global network of Marxist economists. All talks will be available at the IIRE podcast, which we expect to launch with the next newsletter. For now it is possible to download all the talks in one file (original languages, more than 500MB).

Three main questions guided the various sessions of the weekend. First, what is the nature or cause of the crisis? Second, what are the social, economic and political consequences? Finally, what are the links between the current economic crisis and the global ecological and food crises? A solid look at Keynesianism, Ernest Mandel’s contribution on long waves and economic cycles and a (self-) critical take on discourse and propaganda were activities that peppered the debates.

The seminar kicked off with a well-attended public meeting on the crisis with guest speakers Chris Harman of the SWP in Britain and IIRE fellows Michel Husson of the French National Institute for Statistics and Economic Studies and Claudio Katz of the University of Buenos Aires.

François Chesnais (France) opened the seminar itself with an introduction on the role that the so-called financialisation of the economy had in the global crisis. He stated that the crisis cannot be labelled either financial or financialised. Rather, the current crisis has its roots deep in the process of capital accumulation, which, revealing its contradictions, should lead us to look at the dynamics of productivity, the rate of profit and its distribution. The discussion that followed generated a debate between over-accumulation versus under-consumption as explanations for understanding the crisis.

Ozlem Onaran (Turkey), Claudio Katz (Argentina) and Bruno Jetin (France) presented reports on the conditions of the European, Latin American and Asian economies. The debates paved the way for a deeper understanding on how the crisis is perceived and dealt with in the different regions. Participants concluded that an essential characteristic of the crisis is the lack of de-linking tendencies among countries and continents; on the contrary, the efforts to save capitalism have been concerted and almost unanimous.

Michel Husson (France) and Klaus Engert (Germany) analysed the crisis in the framework of the theory of long waves. According to this theory, elaborated by IIRE founder Ernest Mandel, it is possible to use important endogenous factors, i.e. related to the logic of capital and its internal contradictions, to explain the general fall in accumulation that began during the 1970s and has not yet concluded. This discussion left open the possibility of a new ascending wave of economic growth and capitalist accumulation dependent on such exogenous factors as a radical change of the relationship of forces between the classes. One of the conclusions, therefore, was that another wave of attacks on the working class is most likely on its way.

Eric Toussaint (Belgium) emphasised that there is no automatic link between the fact that the crisis is being paid for by workers and the popular masses, and an increase of social struggles. Political, ideological and organisational factors will also play a role in the development of the struggles.

Esther Vivas (Spain) and Daniel Tanuro (Belgium) brought in a fundamental analytical dimension with their introductions: the economic crisis cannot be observed in isolation from the global ecological and food crises. Vivas presented the causes and structure of the food crisis: the current model of agricultural and livestock production is in a large measure responsible for climate change. Tanuro demonstrated how the official, ruling class responses to climate change are insufficient, unreal, irrational and even put us in more danger. He argued that eco-socialists should push for and end to unnecessary production, the retraining of workers in affected sectors and the development of a new agricultural model instigated by radical anti-capitalist measures.

Overall, the analyses revealed that the crisis is systemic, that those who are paying for it are the popular and working classes, and that now, more then ever, it is necessary to build an emancipatory, global anti-capitalist and eco-socialist project.

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