One of the most prescient texts on the financial crisis was by Bob Brenner, who wrote The Economics of Global Turbulence originally for New Left Review in 1998. A new edition was published by Verso in 2006.
“A brilliant economic overview of the world’s current economic state.” — The Nation
“Here, at last—something good out of the left.” — Wall Street Journal
For years, the discipline of economics has been moving steadily away from the real world towards formalized axioms and mathematical models with only a precarious bearing on actuality. Commentators seek to fill the gap as best they can, but in the absence of real background scholarship, journalism is vulnerable to the myopias of fashion and immediacy. The deeper enigmas of post-war development remain in either case largely untouched.
Bringing together the strengths of both the economist and the historian, Robert Brenner rises to this challenge. In this work, a revised and newly introduced edition of his acclaimed New Left Review special report, he charts the turbulent post-war history of the global system and unearths the mechanisms of over-production and over-competition which lie behind its long-term crisis since the early 1970s, thereby demonstrating the thoroughly systematic factors behind wage repression, high unemployment and unequal development, and raising disturbing and far-reaching questions about its future trajectory.
The first 3 people to answer the following question will win a copy of the book:
Which issue of New Left Review did the Economics of Global Turbulence first appear in?
Send your answer to enquiries AT verso.co.uk
Offer only open to those outside of North America.