Table of Contents

Contents:

PART I INTRODUCTION
1. The Crisis in Context
Turan Subasat

2. Roots of the Current Economic Crisis: Capitalism, Forms of Capitalism, Policies, and Contingent Events
David M. Kotz

PART II CRISIS AND PROFITABILITY
3. Crisis Theory and the Falling Rate of Profit
David Harvey

4. Monocausality and Crisis Theory – A Reply to David Harvey
Michael Roberts

5. Booms, Depressions, and the Rate of Profit: A Pluralist, Inductive Guide
Alan Freeman

PART III THE CRISIS IN ECONOMIC AND SOCIAL REPRODUCTION
6. A Global Approach to the Global Financial Crisis
John Weeks

7. The Incubator of the Great Meltdown of 2008: The Structure and Practices of US Neoliberalism as Attacks on Labor
Al Campbell and Erdogan Bakir

8. The Value of History and the History of Value
Radhika Desai

9. The Systemic Failings in Framing Neo-Liberal Social Policy
Ben Fine

10. The Policy-Based and Conjunctural Causes of the 2008 Crisis
Turan Subasat

11. The Systemic Causes of the 2008 Crisis – An Alternative Theoretical Perspective
Turan Subasat

PART IV CRISIS AND FINANCE
12. Inequality, Money Markets and Crisis
Simon Mohun

13. The Crisis of Finance and the Crisis of Accumulation: It Was Not a ‘Lehman Brothers Moment’
Jan Toporowski

14. Contradictions of Capital Accumulation in the Age of Financialization
Özgür Orhangazi

15. Which Crisis, of Which Capitalism? A Marxian and Financial Keynesian Interpretation of Neoliberalism and the Great Recession
Riccardo Bellofiore

16. The Contested Nature of Financialization in Emerging Capitalist Economies
Annina Kaltenbrunner and Elif Karacimen.

PART V THE CRISIS UNFOLDS
17. The Greek Crisis: Structural or Conjunctural?
Stavros D. Mavroudeas

18. Greece, Global Fault-lines and the Disintegrative Logics of Germany's Primacy in Europe.
Vassilis K. Fouskas

19. Conclusions
John Weeks

Index

About the Author

Edited by Turan Subasat, Department of Economics, Mugla Sitki Kocman University, Turkey

Reviews

'What caused the 2007-09 global financial crisis and Great Recession? Why was the ''recovery'' from this crisis period anemic or, in many countries, such as Greece, non-existent? Orthodox economists have almost completely drawn a blank in providing useful answers. By contrast, The Great Financial Meltdown provides a rich array of alternative-and frequently conflicting-perspectives from the Marxian, Post Keynesian and related heterodox traditions. All serious students of real-world economics will have their minds opened by studying this impressive collection.'
--Robert Pollin, University of Massachusetts-Amherst'This book offers fresh insights across the ultimate causes and the long-term implications of the current crisis. It also critically examines the policy alternatives currently on the table, advancing constructive forms of engagement both among the heterodoxy, and with mainstream economics. There is simply no better starting-point to understand the ongoing predicament of advanced as well as ''emerging'' economies.'
--Alfredo Saad-Filho, SOAS, University of London, UK