The endless crisis

Description

"The canyon in central Mexico was ablaze with torches as hundreds of people filed in. So palpable was their shared shock and grief, they later said, that neither pastor nor priest was needed. The event was a memorial service for one of their own who had died during an attempted border passage. Months later a survivor emerged from a coma to tell his story. The accident had provoked a near-death encounter with God that prompted his conversion to Pentecostalism. Today, over half of the local residents of El Alberto, a town in central Mexico, are Pentecostal. Submitting themselves to the authority of a God for whom there are no borders, these Pentecostals today both embrace migration as their right while also praying that their "Mexican Dream"--the dream of a Mexican future with ample employment for all--will one day become a reality. Fire in the Canyon provides one of the first in-depth looks at the dynamic relationship between religion, migration, and ethnicity across the U.S.-Mexican border. Faced with the choice between life-threatening danger at the border and life-sapping poverty in Mexico, residents of El Alberto are drawing on both their religion and their indigenous heritage to demand not only the right to migrate, but also the right to stay home. If we wish to understand people's migration decisions, Sarat argues, we must take religion seriously. It is through religion that people formulate their ideas about life, death, and the limits of government authority. Leah Sarat is Assistant Professor of Religion at Arizona State University"--

Description

The days of boom and bubble are over, and the time has come to understand the long-term economic reality. Although the Great Recession officially ended in June 2009, hopes for a new phase of rapid economic expansion were quickly dashed. Instead, growth has been slow, unemployment has remained high, wages and benefits have seen little improvement, poverty has increased, and the trend toward more inequality of incomes and wealth has continued. It appears that the Great Recession has given way to a period of long-term anemic growth, which Foster and McChesney term the Great Stagnation. This study traces the origins of economic stagnation and explains what it means for a clear understanding of our current situation. The authors point out that increasing monopolization of the economy--when a handful of large firms dominate one or several industries--leads to an over-abundance of capital and too few profitable investment opportunities, with economic stagnation as the result. Absent powerful stimuli to investment, such as historic innovations like the automobile or major government spending, modern capitalist economies have become increasingly dependent on the financial sector to realize profits. And while financialization may have provided a temporary respite from stagnation, it is a solution that cannot last indefinitely, as instability in financial markets over the last half-decade has made clear.--Adapated from Amazon.com.

Subjects

Other Editions

• The endless crisis: how monopoly-finance capital produces stagnation and upheaval from the USA to ChinaMonthly Review Press2012-01-01
• Endless CrisisNew York University Press2013-01-01
• Endless Crisis : How Monopoly-Finance ProducesMonthly Review Press2017-01-01