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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

  • "Europe will be the epicenter of a new Western despotism"

    Boaventura de Sousa Santos outlines the two experiments being practiced in the laboratory of Europe today: a stress test on democracy, and an exercise in the final destruction of the European Left. July 22, 2015. Republished from ZNet


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  • Stathis Kouvelakis on HARDtalk

    Stathis Kouvelakis, Syriza central committee member and Verso author, spoke to Zeinab Badawi yesterday on HARDtalk. Re-posted from BBC World News (watch the full interview here).

    Greece and its creditors have started negotiating a third rescue package worth up to eighty-six billion Euros but the prime minister Alexis Tsipras is facing a rebellion from the hard left in his party, Syriza, who accuse him of going back on his promise to reject austerity. However, it's not just economics that's at the heart of the disagreements; it is a struggle for what kind of country Greece wants to be in the 21st century. Zeinab Badawi talks to Stathis Kouvelakis - a Syriza central committee member - so who's winning the argument in Greece?



    - For more on Greece and the Eurozone crisis, see our Greece Reading List.

  • The Left and the euro: liquidate, rebuild

    If the past few weeks are to be anything other than another reason to be depressed, they might at least serve as the starting point for a Lexit: a Left able, finally, to relinquish the euro. By Frédéric Lordon; translated from the French by David Broder.


    1. The euro radically precludes any possibility of progressive policies.

    2. If there was still any need for proof of this, the criminal treatment inflicted on Greece across six months of brutalisation (re-baptised as ‘negotiation’) has shown that any initiative at ‘transforming the euro’ – the argument that ‘another euro is possible’ – is a chimera that can only lead to political impasse and despair, through a series of successive disillusionments.

    3. To leave any political perspective of breaking with the euro and its institutions to the far Right (who, as it happens, would not do anything of the kind [1]…) is a political error that will condemn the European Lefts to an indefinite impotence.

    4. If we are not to continue yearning for what can never come – ‘another euro’ and the ‘social Europe’ that goes with it – the re-armament of the European Lefts must, then, necessarily proceed by way of imagining what comes after the euro.

    These four propositions set the terms for the future prospects of the Left.

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Upcoming Events

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    August 15, 2015 - August 31, 2015

    Edinburgh

    Edinburgh

    Edinburgh International Book Festival

    Verso authors including Ghada Karmi, Andrew Cockburn, Danny Dorling and Paul Mason will be speaking at the world's largest public celebration of the written word

Other books by Paul Mason