The Deepening Crisis: Governance Challenges after Neoliberalism

The Deepening Crisis: Governance Challenges after Neoliberalism

The Deepening Crisis: Governance Challenges after Neoliberalism

The Deepening Crisis: Governance Challenges after Neoliberalism

Excerpt

In much of the world, one can simply say “the crisis,” and what is understood is the financial crisis centered on New York, London, and other major markets for capital and debt. This is so even though there are other serious social problems. Some of these—like the degradation of the environment and global climate change—are arguably more momentous. As important as it is to understand the crisis in global finance, it is also important to recognize that the financial crisis is only one dimension of a larger cluster of crises that coincide to produce turbulence and turmoil in global affairs. The current crisis thus includes a deep—though not fatal— disruption of financial markets and capital accumulation globally. But it also includes severe environmental challenges, wars and other security threats, and disarray in global governance. The economic issues raised by financial crisis are necessarily entangled in politics, large-scale social change, and basic issues of cultures and civilizations. Indeed, the struggle to cope with financial crisis reveals problems in politics and global governance and threatens to derail action on environmental concerns. While volume 1 in the Possible Futures series focused on the financial crisis itself, volume 2 focuses on these entanglements.

In this regard, the current concatenating crises remind us of something we should have known all along. Economics is always entwined with politics; both are also always matters of social organization and . . .

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