The Continuing Global Slump

By David McNally This article will be the afterword to the forthcoming Danish translation of the author’s book Global Slump: The Economics and Politics of Crisis and Resistance — NSW. Since the outbreak of the global slump in 2008 we have been treated to an incessant stream of predictions that “the crisis is over,” that

Toronto Book Launch for Global Slump

On January 20, 2011 about 200 people gathered in Toronto’s Lula Lounge for the launch of Global Slump: the Economics and Politics of Crisis and Resistance. Emcees Liam McNally Faria Kamal (No One Is Illegal, Toronto) and Syed Hussan (No One Is Illegal, Toronto) introduced the event. Jesook Song (Department of Anthropology, University of Toronto and New Socialist Group) and John Clarke (Ontario Coalition Against Poverty) offered appreciations of the book. After brief opening remarks, David McNally did a short reading from the text. Music at the opening and conclusion is “Revolution” by Nina Simone.

Like we said, it’s a global slump

I have never accepted the postmodernist contention that contemporary capitalism is all about smoke and mirrors. The notion that ideology and illusion make the system go round strikes me as another mode of reductionism – this one based on culture rather than, say, economics. But it must be said that, at first blush, the mainstream business media certainly offers some sustenance for the smoke and mirrors thesis.