What caused the credit crunch? Some said lenders got “too greedy”. Others blamed the regulators. Yet more denied it was even happening. The Credit Crunch – A Marxist Analysis offers a radically different explanation.
Charting how the events unfolded, and drawing on Karl Marx’s theory of crisis, Richard Brenner and Michael Pröbsting argue that the credit crunch foreshadows a crisis of globalisation. Published 2008. Read it here