The recent financial crisis and Great Recession have been analysed endlessly in the mainstream and academia, but this is the first book to conclude, on the basis of in-depth analyses of official US data, that Marx’s crisis theory can explain these events.
Marx believed that the rate of profit has a tendency to fall, leading to economic crises and recessions. Many economists, Marxists among them, have dismissed this theory out of hand, but Andrew Kliman’s careful data analysis shows that the rate of profit did indeed decline after the post-World War II boom and that free-market policies failed to reverse the decline. The fall in profitability led to sluggish investment and economic growth, mounting debt problems, desperate attempts of governments to fight these problems by piling up even more debt – and ultimately to the Great Recession.
Kliman's conclusion is simple but shocking: short of socialist transformation, the only way to escape the ‘new normal’ of a stagnant, crisis-prone economy is to restore profitability through full-scale destruction of existing wealth, something not seen since the Depression of the 1930s.
When used in conjunction with corporations, the term “public” is misleading. Anyone can purchase shares of stock, but public corporations themselves are uninhibited by a sense of societal obligation or strict public oversight. In fact, managers of most large firms are prohibited by law from taking into account the interests of the public in decision making, if doing so hurts shareholders. But this has not always been the case, as until the beginning of the twentieth century, public corporations were deemed to have important civic responsibilities.
With The Failure of Corporate Law, Kent Greenfield hopes to return corporate law to a system in which the public has a greater say in how firms are governed. Greenfield maintains that the laws controlling firms should be much more protective of the public interest and of the corporation’s various stakeholders, such as employees. Only when the law of corporations is evaluated as a branch of public law—as with constitutional law or environmental law—will it be clear what types of changes can be made in corporate governance to improve the common good. Greenfield proposes changes in corporate governance that would enable corporations to meet the progressive goal of creating wealth for society as a whole rather than merely for shareholders and executives.
***Winner of an English PEN Award 2021***
In this sharp intervention, authors Lucí Cavallero and Verónica Gago defiantly develop a feminist understanding of debt, showing its impact on women and members of the LGBTQ+ community and examining the relationship between debt and social reproduction.
Exploring the link between financial activity and the rise of conservative forces in Latin America, the book demonstrates that debt is intimately linked to gendered violence and patriarchal notions of the family. Yet, rather than seeing these forces as insurmountable, the authors also show ways in which debt can be resisted, drawing on concrete experiences and practices from Latin America and around the world.
Featuring interviews with women in Argentina and Brazil, the book reveals the real-life impact of debt and how it falls mainly on the shoulders of women, from the household to the wider effects of national debt and austerity. However, through discussions around experiences of work, prisons, domestic labour, agriculture, family, abortion and housing, a narrative of resistance emerges.
Translated by Liz Mason-Deese.
In an era of increasing interdependence among nations, the foreign policies of poor countries are becoming a subject of critical interest to scholars and the public alike. Neil R. Richardson adopts a political economy perspective to examine the foreign policy repercussions of international economic dependence.
Are dependent countries compliant in their foreign policies, acquiescing to the preferences of the industrial giants on which they rely for foreign trade, investment, and aid revenues? Or are they instead prepared to defy their dominant economic partners? These are the major concerns of Richardson’s rigorous investigation.
The book begins with a characterization of economic dependence and its possible impact on the foreign policy decisions of dependent governments. Ideas from both “interdependence” and dependencia scholarship are extracted in order to explain the reliance of poor countries on their rich partners. These economics are linked to the foreign policies of poorer countries by considering how the mechanisms of dependence may create pressures on foreign policymakers. Several combinations of pressures are plausible, and each set yields a differing expectation about their foreign policies.
The second part of the book is an empirical test of these foreign policy predictions for the years 1950–1973. Richardson analyzes the foreign policy behavior (as reflected in certain votes in the United Nations General Assembly) of a number of poor countries that are economically dependent on the United States to varying degrees.
The results suggest several surprising conclusions. Contrary to one common assumption, these mostly Latin American and Caribbean countries are not necessarily locked into a condition of perpetual dependence. Richardson finds that the foreign policies of the economic dependencies are not easily manipulated by the United States. Not only do annual changes in their external economic reliance fail to correspond to their U.N. voting behavior, but the dependencies as a group are no longer clear voting allies of the United States after the late 1960s. These and other results bear theoretical and policy implications that conclude the book.
Foreign Policy and Economic Dependence will be of interest to specialists in quantitative international relations and American foreign policy.
Southwest Book Award, Border Regional Library Association, 2008
Association of Latina and Latino Anthropologists Book Award, 2009
Established in 1659 as Misión de Nuestra Señora de Guadalupe de los Mansos del Paso del Norte, Ciudad Juárez is the oldest colonial settlement on the U.S.-Mexico border-and one of the largest industrialized border cities in the world. Since the days of its founding, Juárez has been marked by different forms of conquest and the quest for wealth as an elaborate matrix of gender, class, and ethnic hierarchies struggled for dominance. Juxtaposing the early Spanish invasions of the region with the arrival of late-twentieth-century industrial "conquistadors," Fragmented Lives, Assembled Parts documents the consequences of imperial history through in-depth ethnographic studies of working-class factory life.
By comparing the social and human consequences of recent globalism with the region's pioneer era, Alejandro Lugo demonstrates the ways in which class mobilization is itself constantly being "unmade" at both the international and personal levels for border workers. Both an inside account of maquiladora practices and a rich social history, this is an interdisciplinary survey of the legacies, tropes, economic systems, and gender-based inequalities reflected in a unique cultural landscape. Through a framework of theoretical conceptualizations applied to a range of facets—from multiracial "mestizo" populations to the notions of border "crossings" and "inspections," as well as the recent brutal killings of working-class women in Ciudad Juárez—Fragmented Lives, Assembled Parts provides a critical understanding of the effect of transnational corporations on contemporary Mexico, calling for official recognition of the desperate need for improved working and living conditions within this community.
Fueling Growth examines post-World War II economic development in Japan through the prism of the energy sector. Energy, always a key problem for Japan, is an appropriate angle from which to view the changing economy and the development of economic policy during the Occupation years and after.
Between 1945 and 1960, Japan moved from a primary reliance on domestic coal and hydroelectricity to a dependence on imported oil. The debates over energy very quickly became debates over the viability and direction of the nation's entire economic strategy. Not surprisingly, given the high stakes involved, consensus on plans for economic growth was not attained automatically. Rancorous arguments, uncertainty, and ambivalence about development strategies were the precursors to the eventual forging of a workable policy. Hein describes in detail both the events in this process and the players: government officials, businessmen, labor unionists, and another, often under-emphasized contributor to Japanese postwar economic policy—the United States government, which set the parameters within which the Japanese could operate.
READERS
Browse our collection.
PUBLISHERS
See BiblioVault's publisher services.
STUDENT SERVICES
Files for college accessibility offices.
UChicago Accessibility Resources
home | accessibility | search | about | contact us
BiblioVault ® 2001 - 2024
The University of Chicago Press