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Meltdown: The End of the Age of Greed

A fully updated new edition of an acclaimed report on the global financial crisis.
Meltdown is the gripping account of the financial collapse that destroyed the West’s investment banks, brought the global economy to its knees, and undermined three decades of neoliberal orthodoxy. Covering the development of the crisis from the economic front line, BBC Newsnight journalist Paul Mason explores the roots of the US and UK’s financial hubris, documenting the real-world causes and consequences from the Ford factory, to Wall Street, to the City of London. In this fully updated new edition, he recounts how the credit crunch became a full-blown financial crisis, and explores its impact on capitalist ideology and politics in our new age of austerity.

Reviews

  • “A page-turning account … Mason is refreshingly clear-eyed—and angry.”
  • “Excellent.”
  • “What people need is a reliable guide to the financial crisis … Meltdown is the book they are looking for.”
  • “A lucid and sharply polemical account.”

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, Verso presents a reading list of economics titles which challenge the mainstream neoliberal consensus and offer powerful alternative models in contemporary economics.
     


    First up, Wolfgang Streeck's analysis of the 2008 financial crisis, Buying Time: The Delayed Crisis of Democratic Capitalism.
    Placing the crisis in the context of the neoliberal transformation of society that began in the 1970s, Streeck's focus is on the tensions that this has produced between states, voters and capitalist enterprises. Buying Time asks fundamental questions about the compatibility between democracy and contemporary forms of capitalism. 
    Read Streeck's excellent article on the end of capitalism at the New Left Review website.

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  • The Verso Undergraduate Reading List



    BACK TO UNIVERSITY/SCHOOL! 50% OFF EVERYTHING FOR ONE WEEK ONLY!

    Feeling underwhelmed by your orthodox assigned readings? Expand your knowledge of left theory, give your political arguments some bite, and spark a love for revolutionary writers with this updated list of essential Verso books for undergraduates.

    Whether you're a student of history, sociology, political science, or geography, look no further for key radical texts and indispensable primers on today's top thinkers. 

    The list is divided into Politics, Philosophy, Feminism, Postcolonial Studies, History and Geography - see below for our recommended reading in these areas.

    All of these books will be discounted by 50%, with free shipping and bundled ebook, when you buy through our website until midnight on Tuesday September 16th! Not all books are available in all regions (apologies!) and - of course - only whilst stocks last.

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  • How to do post-crash economics?

    Mainstream economics has not come up with any fresh ideas, or new methods of investigation after the gigantic crisis of 2008-9. Nothing has fundamentally changed, and suggestions that something is not quite right with the discipline are usually met with bafflement. The real issue, however, is not to point out the weaknesses, or the intellectual rigidity of mainstream economics, a task that has been repeatedly performed in recent decades. It is, rather, to produce analysis that is genuinely different from the mainstream, while remaining true to economics as a discipline.

In this light, the kind of economics that I find persuasive would have the following features:

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Other books by Paul Mason