Explaining how the recent U.S. economic crisis, which quickly spread around the world, marked a turning point in the history of capitalism, this book contends that the system will not bounce back and will not return to the normal capitalist boom-and-bust cycle. Using youth unemployment as a key measure of stagnation of a system in decline, as well as Marxist analytical tools, it shows how global capitalism has reached a tipping point. Other featured examples demonstrate how capitalism is not only wrecking the environment, ...
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Explaining how the recent U.S. economic crisis, which quickly spread around the world, marked a turning point in the history of capitalism, this book contends that the system will not bounce back and will not return to the normal capitalist boom-and-bust cycle. Using youth unemployment as a key measure of stagnation of a system in decline, as well as Marxist analytical tools, it shows how global capitalism has reached a tipping point. Other featured examples demonstrate how capitalism is not only wrecking the environment, but has outgrown the planet and threatens its very existence, nearing a resurgence of global class struggle at levels not seen since the 1930s.
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