Get Bonfire of Illusions: The Twin Crises of the Liberal World PDF

By Alex Callinicos

ISBN-10: 0745648754

ISBN-13: 9780745648750

ISBN-10: 0745648762

ISBN-13: 9780745648767

whatever dramatic occurred within the past due summer season and autumn of 2008. The post-Cold warfare global got here to an abrupt finish. This used to be the results of conjoined crises. First, in its short warfare with Georgia in August 2008, Russia asserted its army strength to halt the growth of NATO to its very borders. Secondly, on 15 September 2008 the Wall highway funding financial institution Lehman Brothers collapsed. This caused a critical monetary crash and helped to push the realm financial system into the worst hunch because the Nineteen Thirties.

either crises marked a serious setback for the worldwide energy of the us, which had pushed NATO growth and compelled during the liberalization of monetary markets. extra widely they challenged the consensus that had reigned because the cave in of the Soviet bloc in 1989 US-orchestrated liberal capitalist order may perhaps supply the realm peace and prosperity. Already badly broken by means of the Iraq debacle, this consensus has now suffered almost certainly deadly blows.

In Bonfire of Illusions Alex Callinicos explores those dual crises. He lines the credits crunch that built in 2007-8 to a way more protracted predicament of overaccumulation and profitability that has gripped worldwide capitalism because the overdue Sixties. He additionally confronts the interplay among monetary and geopolitical occasions, highlighting the recent assertiveness of geographical regions and analysing the stressful, complicated dating of interdependence and clash that binds jointly the united states and China. ultimately, in accordance with the revelation that the industry isn't the way to the world's difficulties, Callinicos experiences the customers for choices to capitalism.

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Bonfire of Illusions: The Twin Crises of the Liberal World by Alex Callinicos

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