The Great Financial Crisis: Causes and Consequences - J.B. Foster & Fred Magdoff

From Publishers Weekly: In this timely and thorough analysis of the current financial crisis, Foster and Magdoff explore its roots and the radical changes that might be undertaken in response. With a foray into the Great Depression of the 1930s, they move to the present situation, born out of the housing bubble, the wider explosion of debt and the problem of financialization of capital. They survey the long-term implications and the larger political-economic aspects of the crisis to propose that the crisis raises questions that are primarily political rather than economic. They suggest that society will eventually conclude that our fatally unstable political-economic structure should be replaced with one of social use rather than private gain — a more humane order geared to collective needs. This book makes a valuable contribution to the ongoing examination of our current debt crisis, one that deserves our full attention. 144 pages

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  • Leo F.

    This was a great discussion, that you everyone for coming!

    1 · March 3, 2013

    • Leo F.

      That was meant to say "thank you everyone"...

      March 5, 2013

  • A former member
    A former member

    Great discussion/everyone was swell. Really enjoyed it!

    March 5, 2013

  • Mona

    It was great meeting you all and listening to your views.

    March 3, 2013

  • A former member
    A former member

    Good conversation and a mix of different backgrounds.

    2 · March 3, 2013

  • Art J.

    I can only stay an hour, but I am very interested in hearing other people's view on this book.

    March 3, 2013

  • Mona

    It will be my first time there,hope I can make it tomorrow.Looking forward to it!!

    March 2, 2013

    • Leo F.

      I hope you'll make it, Mona. Looking forward to meeting you.

      March 2, 2013

  • Elizabeth

    My library doesn't carry this one, but I'm interested in the strong reviews

    January 5, 2012

    • Leo F.

      I'm reading this one as an e-book. The narrative is a bit drier than I expected, but it's very informative. They dig deep into the ultimate causes of the crisis, and make the argument that the whole structure of the economic system in the U.S. - depending simultaneously on low wages and high consumer spending - is to blame. I am curious to see what others think of their analysis.

      February 23, 2013

    • Leo F.

      Great! I do encourage everyone to get their books from Boswell. Unfortunately they didnt have it in stock when I went there. Did you get the 10% book club discount?

      March 1, 2013

  • A former member
    A former member

    I've found the book to be very interesting so far. I wasn't able to find it in the library either, but I downloaded the Kindle version from Amazon. The Kindle version is helpful for this book, because I've had to highlight some parts to re-read. I'm looking forward to hearing everyone's perspectives on Sunday!

    1 · March 1, 2013

  • Leo F.

    I'm finding that this book has an overly academic tone. I've had to Google some of the more technical terms they use. I'm enjoying it, but I can see how some people who are interested in the topic would be put off by the authors' writing style. All I can say is, if you are interested, please come to the discussion on Sunday whether you read it or not.

    2 · March 1, 2013

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