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The Making of Global Capitalism: The Political Economy of American Empire

“The most important leftist book of the year, and probably the decade.”–Charles Mudede, The Stranger
The all-encompassing embrace of world capitalism at the beginning of the twenty-first century was generally attributed to the superiority of competitive markets. Globalization had appeared to be the natural outcome of this unstoppable process. But today, with global markets roiling and increasingly reliant on state intervention to stay afloat, it has become clear that markets and states aren't straightforwardly opposing forces.

In this groundbreaking work, Leo Panitch and Sam Gindin demonstrate the intimate relationship between modern capitalism and the American state. The Making of Global Capitalism identifies the centrality of the social conflicts that occur within states rather than between them. These emerging fault lines hold out the possibility of new political movements that might transcend global markets.

Reviews

  • “Lucid and indispensable guides to the history and practice of American Empire.”
  • “A must read for everyone who is concerned about where the future of capitalism might lie.”
  • “The most important leftist book of the year, and probably the decade.”

Blog

  • Post-crash economics: a reading list

    Neoliberal economics isn't working and students are demanding more from their course reading than the 8th edition of Macroeconomics can provide. Following the news that Economics students in Manchester have formed the Post-Crash Economics Society and Aditya Chakrabortty's excoriating and controversial commentary on the state of contemporary economics, published in the Guardian this week, Verso presents a reading list of economics titles which challenge the mainstream neoliberal consensus and offer powerful alternative models in contemporary economics.
     


    First on our list, and referenced by Chakrabortty, Never Let a Serious Crisis Go to Waste: How Neoliberalism Survived the Financial Meltdown by Philip Mirowski
    Following the financial crisis, how have banks and the financial services industry manage to stay on top in the political stakes; indeed, how has their recovering led to an upturn in their fortunes? Philip Mirowski explores how financial capitalism has turned the crisis to their advantage, leveraging state power to prop up free market capitalism.

    Another new release from Verso is Costas Lapavitsas' book on financialisation, Profiting Without Producing: How Finance Exploits Us All. Described as "a masterpiece on the financialized capitalism of our age", the book looks at the rise of financial profit as a key aspect of the economy, and the role of financialized capitalism in the current economic crisis.

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  • 2013 Highlights from Verso Books

    From scaling the very highest rooftops to political scandal through the eyes of Alexander Cockburn, we bring you our seasonal highlights for 2013.

    THE CITY / URBAN EXPLORATION



     
    Explore Everything: Place-Hacking the City
    Bradley L. Garrett

    "Garrett perceives the city like no one else I know. Seen through his eyes, it is newly porous, full of “vanishing points”, “imperfect joinings” and portals – service hatches, padlocked doorways – that you wouldn't usually notice... The city's accessible space extends far down into the earth (sewers, bunkers, tunnels) and far up into the air (skyscrapers, cranes), with the street level only serving as a median altitude." – Robert Macfarlane, Guardian 

    "[Combines] erudite references (Montesquieu, Walter Benjamin) with compelling photographs of men in hoodies in strange places." – Rowan Moore, The Observer Architecture Books of the Year

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  • Kshama Sawant, A Real Socialist Alternative? - Praise for Sam Gindin and Leo Panitch



    In an article in The StrangerCharles Mudede writes that a socialist alternative to ruthless capitalism might have become possible, after decades of Keynesian and neo-liberal subordination of "society to economy", in Polanyi's words. He is writing about Kshama Sawant, running for the city electoral council of Seattle. A genuine socialist according to Mudede, she militates for minimum wage increases, taxing the rich, and roots her politics in class struggle. And, today, she just got elected!

    In his article Mudede refers to Leo Panitch and Sam Gindin, the prominent authors of the landmark The Making of Global Capitalism, in which they analyze the collusion between market and state in the rise of global capitalism, and identify domestic failures as potential springboards for political movements that would challenge the ruling system's domination. Told about Kshama Sawant, Leo Panitch declared: "Wow, that's just fantastic... That's phenomenal." Analyzing this reaction, Mudede asks himself, with kind words for both Verso and the authors of The Making of Global Capitalism:

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Other books by Sam Gindin and Leo Panitch