The financial crisis of 2008-9 was the largest and most devastating crisis since the Great Depression. What started on Wall Street soon spread to the rest of world and into the balance sheets of nation states. The cycle of austerity and recession in the subsequent decade is still effecting households and the real economy to this day. But what caused the crisis in the first place? In this now classic essay, Robert Brenner traces the origins of the crisis to the long downturn since the mid '70s, and offers what is still one of the best analyses of the financial system.
For much of the 20th century there was a general trend towards greater wealth equality. That is now set in reverse, with wealth much more unequally distributed than incomes. How we can solve his crisis of wealth? This article, by Duncan McCann and Stewart Lansley, argues that the time is right for Citizens' Wealth Funds.
On the latest episode of Who Makes Cents: A History of Capitalism Podcast, Raj Patel and Jason Moore trace the relationship between capital and the environment through seven cheap things: nature, money, work, care, food, energy, and lives.
In a new episode of Who Makes Cents: A History of Capitalism Podcast, Mehrsa Baradaran looks at the history of the racial wealth gap and the ways that Black banks have often acted to distract from more fundamental solutions.
In his book Adults in the Room, Yanis Varoufakis gives us his version of the events that led to the Tsipras government’s shameful capitulation in July 2015. In the seventh part of a series of articles analyzing this account, Eric Toussaint looks at the disastrous agreement Varoufakis signed with the Eurogroup in February 2015.