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For years, the discipline of economics has been moving steadily away from the real world towards formalized axioms and mathematical models with only a precarious bearing on actuality. Commentators seek to fill the gap as best they can, but in the absence of real background scholarship, journalism is vulnerable to the myopias of fashion and immediacy. The deeper enigmas of post-war development remain in either case largely untouched. Bringing together the strengths of both the economist and the historian, Robert Brenner rises to this challenge. In this work, a revised and newly introduced edition of his acclaimed New Left Review special report, he charts the turbulent post-war history of the global system and unearths the mechanisms of over-production and over-competition which lie behind its long-term crisis since the early 1970s, thereby demonstrating the thoroughly systematic factors behind wage repression, high unemployment and unequal development, and raising disturbing and far-reaching questions about its future trajectory. In this new edition, Brenner brings the story up to date, taking into account the great financial crisis of 2008 and its aftermath.
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'A brilliant economic overview of the world's current economic state.' --The Nation
'Here, at last ... something good out of the Left.' --Wall Street Journal
'Robert Brenner [is] arguably capital's most lucid contemporary historian.' --Los Angeles Review of Books
Robert Brenner is Professor of History and Director of the Center for Social Theory and Comparative History at UCLA. He lives in Los Angeles, CA. He is the author of The Boom and the Bubble and Merchants and Revolution.
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