Zombie Capitalism: Global Crisis and the Relevance of Marx

Chris Harman

Haymarket Books, 2010 - Business & Economics - 424 pages

We've been told for years that the capitalist free market is a self-correcting perpetual growth machine in which sellers always find buyers, precluding any major crisis in the system. Then the credit crunch of August 2007 turned into the great crash of September-October 2008, leading one apologist for the system, Willem Buiter, to write of "the end of capitalism as we knew it."

As the crisis unfolded, the world witnessed the way in which the runaway speculation of the "shadow" banking system wreaked havoc on world markets, leaving real human devastation in its wake. Faced with the financial crisis, some economic commentators began to talk of "zombie banks"-financial institutions that were in an "undead state" and incapable of fulfilling any positive function but a threat to everything else. What they do not realize is that twenty-first century capitalism as a whole is a zombie system, seemingly dead when it comes to achieving human goals.

PDF  https://archive.org/details/pdfy-kvzhB4k4AcAT-7iA/page/n1/mode/2up

Contents

Understanding the System Marx and Beyond	19
Marx and His Critics	41
The Dynamics of the System	55
Monopoly War and the State	87
State Spending and the System	121
Capitalism in the 20th Century	141
The Long Boom	161
The End of the Golden	191

The Runaway System	305
The Runaway System and the Future for Humanity	325
Notes	353
Glossary	394
Index	403
143	410
325	420
Copyright

The New Age of Global Instability	227

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