Author Description

Explains the global economic downturn in relation to the development of the world economy since World War II, but also as a fundamental example of the cycle of crisis and recovery that has characterized capitalism since the early nineteenth century. Mattick argues that today's recession is not the result of a singular financial event but instead is a manifestation of long-term processes within the world economy. Arguing that the economic downturn can best be understood within the context of business cycles, which are unavoidable in a free-market economy, Mattick uses this explanation as a springboard for exploring the nature of our capitalist society and its prospects for the future. From publisher description.