Editors: Wayne Antony, Julie Guard
Publisher: Fernwood Publishing
ISBN: 978-1-55266-313-4
Publication Date: May 2009
Trade Paperback
128 pages

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Bankruptcies and Bailouts
Edited by Wayne Antony, Julie Guard

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• Preface by Wayne Antony and Julie Guard
  and Introduction by Cy Gonick

About this Book

Recession? Depression? Market adjustment? Billion-dollar bailouts? Just what is happening to the economy? Like the rest of the industrialized world, Canada is in the midst of an economic crisis that is clearly of global proportions. Yet, Nobel Prize winning economists failed to see it coming. This is unsurprising since, in the words of the newly humble Alan Greenspan, the crisis revealed “a flaw in the model ... that defines the way the world works.” Bankruptcies and Bailouts explains the roots of this economic disaster. The essays in this book show, in clear and accessible language, that the global capitalist economy, dependent on hyper-extended credit, fuelled by systematic deregulation and rooted in the contradictions of a mad drive for unlimited profits, must inevitably end up in this predicament. The authors also demonstrate that there are ways out of this economic mess that do not involve simply bailing out the obscenely over-paid executives whose decisions led us to this chaos.

Contents

• Cy Gonick: Foreword
• Robert Chernomas: Explaining the Economic Crisis: Class Warfare from Reagan to Obama
• David McNally: Inequality, the Profit System and the Global Crisis
• Ian Hudson: From Deregulation to Crisis
• John Loxley: Hyper-Credit: The Financial Dimension of the Economic Crisis
• Fletcher Baragar: Canada and the Economic Crisis–
• Lynne Fernandez: We’re All Keynesians–Again
• Rahdika DesaiL Keynes Redux: History Catches Up
• Alan Freeman: Investing in Civilisation: What the State can do in a Crisis
• Biblography

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