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Apocalypse shapes the experience of millions of Americans. Not because they face imminent cataclysm, however true this is, but because apocalypse is a story they tell themselves. It offers a way out of an otherwise irredeemably unjust world. Adherence to it obscures that it is a story, rather than a description of reality. And it is old. Since its origins among Jewish writers in the first centuries BCE, apocalypse has recurred as a tempting and available form through which to express a sense of hopelessness. Why has it appeared with such force in the US now? What does it mean? This book argues that to find the meaning of our apocalyptic times we need to look at the economics of the last five decades, from the end of the postwar boom. After historian Robert Brenner, this volume calls this period the long downturn. Though it might seem abstract, the economics of the long downturn worked its way into the most intimate experiences of everyday life, including the fear that there would be no tomorrow, and this fear takes the form of 'neoliberal apocalypse'. The varieties of neoliberal apocalypse—horror at the nation's commitment to a racist, exclusionary economic system; resentment about threats to white supremacy; apprehension that the nation has unleashed a violence that will consume it; claustrophobia within the limited scripts of neoliberalism; suffocation under the weight of debt—together form the discordant chord that hums under American life in the twenty-first century. For many of us, for different reasons, it feels like the end is coming soon and this book explores how we came to this, and what it has meant for literature.
A commanding survey of the world economy from 1950 to the present, from the author of the acclaimed The Boom and the Bubble.
The recent global economic downturn has affected nearly everyone in every corner of the globe. Its vast reach and lingering effects have made it difficult to pinpoint its exact cause, and while some economists point to the risks inherent in the modern financial system, others blame long-term imbalances in the world economy. Into this debate steps Paul Mattick, who, in Business as Usual, explains the global economic downturn in relation to the development of the world economy since World War II, but also as a fundamental example of the cycle of crisis and recovery that has characterized capitalism since the early nineteenth century. Mattick explains that today’s recession is not the result of a singular financial event but instead is a manifestation of long-term processes within the world economy. Mattick argues that the economic downturn can best be understood within the context of business cycles, which are unavoidable in a free-market economy. He uses this explanation as a springboard for exploring the nature of our capitalist society and its prospects for the future. Although Business as Usual engages with many economic theories, both mainstream and left-wing, Mattick’s accessible writing opens the subject up in order for non-specialists to understand the current economic climate not as the effect of a financial crisis, but as a manifestation of a truth about the social and economic system in which we live. As a result the book is ideal for anyone who wants to gain a succinct and jargon-free understanding of recent economic events, and, just as important, the overall dynamics of the capitalist system itself.
A comprehensive study of ephemera in twentieth-century literature—and its relevance to the twenty-first century “Nothing ever really disappears from the internet” has become a common warning of the digital age. But the twentieth century was filled with ephemera—items that were designed to disappear forever—and these objects played crucial roles in some of that century’s greatest works of literature. In The Death of Things, author Sarah Wasserman delivers the first comprehensive study addressing the role ephemera played in twentieth-century fiction and its relevance to contemporary digital culture. Representing the experience of perpetual change and loss, ephemera was central to great works by major novelists like Don DeLillo, Ralph Ellison, and Marilynne Robinson. Following the lives and deaths of objects, Wasserman imagines new uses of urban space, new forms of visibility for marginalized groups, and new conceptions of the marginal itself. She also inquires into present-day conundrums: our fascination with the durable, our concerns with the digital, and our curiosity about what new fictional narratives have to say about deletion and preservation. The Death of Things offers readers fascinating, original angles on how objects shape our world. Creating an alternate literary history of the twentieth century, Wasserman delivers an insightful and idiosyncratic journey through objects that were once vital but are now forgotten.
“The leading socialist economist in the country” explores the roots of the Great Recession and its immense impact on working people (Cornel West). While most mainstream commentators view the crisis that provoked the Great Recession as having passed, these essays from Richard Wolff paint a far less rosy picture. Drawing attention to the extreme downturn in most of capitalism’s old centers, the unequal growth in its new centers, and the resurgence of a global speculative bubble, Wolff—in his uniquely accessible style—makes the case that the crisis should be grasped not as a passing moment, but as an evolving stage in capitalism’s history. Praise for Richard Wolff and Democracy at Work “Probably America’s most prominent Marxist economist.” —The New York Times Magazine “Richard Wolff’s constructive and innovative ideas suggest new and promising foundations for much more authentic democracy and sustainable and equitable development, ideas that can be implemented directly and carried forward. A very valuable contribution in troubled times.” —Noam Chomsky “Wolff offers a rich and much-needed corrective to the views of mainstream economists and pundits. It would be difficult to come away from this with anything but an acute appreciation of what is needed to get us out of this mess.” —Stanley Aronowitz “Bold, thoughtful, transformative—a powerful and challenging vision that takes us beyond both corporate capitalism and state socialism. Richard Wolff at his best!” —Gar Alperovitz
Setting out from an unapologetic Marxist perspective, The Long Depression argues that the global economy remains in the throes of a depression. Making the case that the profitability of capital is too low, and the debt built up before the Great Recession too high, leading radical economist Michael Roberts persuasively presents his case that this depression will persist until the profitability of capital is restored through yet another slump.
The recent financial crisis had a profound effect on both public and private universities. Universities responded to these stresses in different ways. This volume presents new evidence on the nature of these responses and how the incentives and constraints facing different institutions affected their behavior.
An empirical investigation of financial crises during the last 800 years.
Drawing on a mix of political, economic, literary, and filmic texts, Crisis Cultures challenges current cultural histories of the neoliberal period by arguing that financialization, and not just neoliberalism, has been at the center of the dramatic transformations in Latin American societies in the last thirty years. Starting from political economic figures such as crisis, hyperinflation, credit, and circulation and exemplary cultural texts, Whitener traces the interactions between culture, finance, surplus populations, and racialized state violence after 1982 in Mexico and Brazil. Crisis Cultures makes sense of the emergence of new forms of exploitation and terrifying police and militarized violence by tracking the cultural and discursive forms, including real abstraction and the favela and immaterial cadavers and voided collectivities, that have emerged in the complicated aftermath of the long downturn and global turn to finance.
What unites Google and Facebook, Apple and Microsoft, Siemens and GE, Uber and Airbnb? Across a wide range of sectors, these firms are transforming themselves into platforms: businesses that provide the hardware and software foundation for others to operate on. This transformation signals a major shift in how capitalist firms operate and how they interact with the rest of the economy: the emergence of ‘platform capitalism’. This book critically examines these new business forms, tracing their genesis from the long downturn of the 1970s to the boom and bust of the 1990s and the aftershocks of the 2008 crisis. It shows how the fundamental foundations of the economy are rapidly being carved up among a small number of monopolistic platforms, and how the platform introduces new tendencies within capitalism that pose significant challenges to any vision of a post-capitalist future. This book will be essential reading for anyone who wants to understand how the most powerful tech companies of our time are transforming the global economy." Also available as an audiobook.