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  • 2023-11-13 WK12 Outline and Reading List

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    This session reviews critiques of neoliberalism by the Western left after the 2008 financial crisis. It provides essential readings on the causes of the US deficit crisis and who should pay to fix it, how the rest cannot escape the long depression, and economic instability and crises under neoliberalism. Additional readings analyze topics like the exhaustion of Western capitalism, the roots of the neoliberal revolution, IMF reports, the financial and economic crisis, and the survival of neoliberalism after the meltdown. The essay question asks students to discuss reasons for the persistence of neoliberalism despite the deepening crisis in the West.

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    This session reviews critiques of neoliberalism by the Western left after the 2008 financial crisis. It provides essential readings on the causes of the US deficit crisis and who should pay to fix it, how the rest cannot escape the long depression, and economic instability and crises under neoliberalism. Additional readings analyze topics like the exhaustion of Western capitalism, the roots of the neoliberal revolution, IMF reports, the financial and economic crisis, and the survival of neoliberalism after the meltdown. The essay question asks students to discuss reasons for the persistence of neoliberalism despite the deepening crisis in the West.

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    5 views1 page

    2023-11-13 WK12 Outline and Reading List

    Uploaded by

    蛋治
    This session reviews critiques of neoliberalism by the Western left after the 2008 financial crisis. It provides essential readings on the causes of the US deficit crisis and who should pay to fix it, how the rest cannot escape the long depression, and economic instability and crises under neoliberalism. Additional readings analyze topics like the exhaustion of Western capitalism, the roots of the neoliberal revolution, IMF reports, the financial and economic crisis, and the survival of neoliberalism after the meltdown. The essay question asks students to discuss reasons for the persistence of neoliberalism despite the deepening crisis in the West.

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    Week 12: The persistence of neoliberalism after the 2008 crisis

    This session reviews the major critiques of Neoliberalism by the Western left in the aftermath of
    the 2008 crisis.

    Essential readings:
    1. Crotty, J. (2012) ‘The Great Austerity War: What Caused the US Deficit Crisis and Who
    Should Pay to Fix It?’, Cambridge Journal of Economics, 36, pp.79-104.
    2. Roberts, M. (2016) ‘The Rest Cannot Escape’, in The Long Depression. Chicago:
    Haymarket Books, ch.11.
    3. Saad-Filho, A. (2021) ‘Economic Instability and Crises Under Neoliberalism’, in The Age
    of Crisis Neoliberalism, the Collapse of Democracy, and the Pandemic, London: Springer
    International Publish, ch.2.
    4. Stiglitz, J. (2009) ‘The Current Economic Crisis and Lessons for Economic Theory’,
    Eastern Economic Journal, 35(3), pp.281-296. https://www.jstor.org/stable/20642492

    Additional readings:
    1. Carchedi, G. (2018) ‘The old is dying but the new cannot be born: on the exhaustion of
    Western capitalism’, in G. Carchedi and M. Roberts (eds.) World in Crisis: A Global
    Analysis of Marx’s Law of Profitability, Chicago: Haymarket Books, ch. 2 (pp.36-77).
    2. Duménil, G. and Lévy, D. (2004) Capital Resurgent: Roots of the Neoliberal Revolution.
    Cambridge, Mass.: Harvard University Press, ch.13.
    3. IMF (2023) World Economic Outlook, latest issue (available from the IMF website).
    4. Kotz, D. (2009) ‘The Financial and Economic Crisis of 2008’, Review of Radical Political
    Economics 41(3), pp.305-317.
    5. Lapavitsas, C. (2012) Crisis in the Eurozone. London: Verso.
    6. Mirowski, P. (2013) Never Let a Serious Crisis Go to Waste: How Neoliberalism Survived
    the Financial Meltdown. London: Verso, ch.2.
    7. Norfield, T. (2018) ‘Derivatives and Capitalist Markets: The Speculative Heart of Capital’,
    in G. Carchedi and M. Roberts (eds.) World in Crisis: A Global Analysis of Marx’s Law of
    Profitability, Chicago: Haymarket Books, ch. 14 (pp.363-389).
    8. Saad-Filho, A. (2011) ‘Crisis in Neoliberalism or Crisis of Neoliberalism?’ in L. Panitch, G.
    Albo and V. Chibber, V. (eds.) Socialist Register 2011: The Crisis This Time, 47, London:
    The Merlin Press.
    9. Saad-Filho, A. and Feil, F. (2023) ‘From Climate Change to Sustainable and Inclusive
    Economies: A Policy Agenda’, Critical Sociology, 2023. https://doi-
    org.libezproxy.um.edu.mo/10.1177/08969205231160628

    Essay question: Discuss the possible reasons for the persistence of neoliberalism in spite of
    the deepening crisis in the West.

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