Global Capitalist Crisis and the Second Great Depression

Global Capitalist Crisis and the Second Great Depression

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In this comprehensive work, Armando Navarro delivers a timely analysis of the global capitalist crisis that has arisen in the United States. Navarro offers a wide-ranging political historical analysis of events the led up to the present co-called a€œSecond Great Depression.a€ Starting with the end of World War II, he tracks the various political and economic decisions that have led to the emergence of the global economic crisis that began in 2006. He provides context for the current economic situation by discussing the major economic and political events, including the Great Depression, the New Deal, the rise of neo-liberal capitalism, and the collapse of the subprime mortgage industry. Navarro incisively reviews and critiques the Obama administration and Democratsa€™ quasi-welfare capitalist legislation. Driven by social democratic models, he constructs a transformative social movement paradigm that calls for the rise of reform and proposes dramatic systemic change. Navarro concludes by looking at the U.S. political culturea€”what he contends is the major obstacle to the rise of a€œsocialisma€ in the United Statesa€”and speculates about the potentially bleak economic future to come... the Great Depression.21 Stock Market Crash: The Great Depression The economic boom and the a€œspeculative orgya€ that pervaded the Roaring Twenties faded abruptly during late October 1929 with the stock market crash (sometimes calledanbsp;...

Title:Global Capitalist Crisis and the Second Great Depression
Author: Armando Navarro
Publisher:Lexington Books - 2012-01-01

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