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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

  • Wolfgang Streeck: ‘Out of the Euro!’

    The political economist and author of Buying Time argues that 'the unified capitalist economy is destroying European diversity' and that in order to save this ideal, 'the monster of monetary union must be unravelled'. 

     

    If everything goes well, then what has been happening before our eyes in the last few days is the beginning of the end of the European monetary union. ‘If the Euro collapses, then so does Europe,’ said Chancellor Merkel, when it was a question of selling to the electors one of the horrendous ‘rescue packages’ for the European banks. Now we have the very opposite. The Euro is in the process of destroying Europe. If the Euro collapses – and let it be soon! – it may be that Europe actually doesn’t collapse. The outcome is certainly not clear; the wounds that monetary union has inflicted are too deep. 

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  • Syriza explained by Stathis Kouvelakis

    In this interview originally published in Nouvel Observateur, the political theorist and member of Syriza's central committee, Stathis Kouvelakis looks at the origins of the Syriza phenomenon.


     Protesters clash with policemen during riots at a May Day rally in Athens, 2010

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  • A Reply to the Sophists by Stathis Kouvelakis

    Since Syriza was elected, Stathis Kouvelakis, who is a member of the party's Central Committee, has been providing vital insight and analysis of the rapidly developing situation in Greece. Below he addresses current understandings of the Greek government's agreement with the Eurogroup, including that of Étienne Balibar and Sandro Mezzadra, posted earlier today.



    In the last few days there have been two sophisms circulating among those who refuse to look reality square in the face and recognise the retreat that Syriza has been forced to make, as well as its possible consequences. Or rather, two and a half. And I say ‘forced’ with good reason, because the new government has been trapped by its mistaken strategy: though I wouldn’t say it was a ‘betrayal’ or ‘capitulation’, since these are moralising terms that are of very little use for understanding political processes.

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Other books by Paul Mason