“Business as Usual
is a superb achievement. In this highly accessible book, Paul Mattick offers an outstanding theoretical and empirical account of the ongoing crisis, its devastating implications for the majority, and a brilliant indictment of the failures of mainstream economics at the levels of theory and policy guidance. Business as Usual
also shows how and why these dismal failures should no longer deter the search for transformative alternatives.”
(Alfredo Saad-Filho, University of London)
“For anyone who is unsatisfied with the usual explanations of the current economic crisis – greed and fraud, deregulation, financialization, etc. —and is looking for a deeper explanation, this book is for you. Mattick demonstrates (without jargon and with great clarity) that the root causes of the current crisis lie in the fundamental nature and dynamics of capitalist economies, and places this crisis within the illuminating historical context of recurring capitalist crises since the early 19th century.” —Fred Moseley, Mount Holyoke College
“This lucid and thoughtful study is not just another important contribution to the rapidly expanding literature on the current economic crisis, though it is that as well. With historical depth and penetrating analysis, it seeks to reveal what is ‘wrong with the mainstream approach to understanding current economic affairs,’ tracing the roots of financialization of the economy and export of production with their increasingly harmful consequences, and the looming environmental crisis that overshadows everything, to their roots in fundamental structural features of the state capitalism that has taken many forms in the modern era. It provides a grimly realistic picture of what may lie ahead unless there is a radical transformation of the social order from production for profit to pursuit of human ends, based on ‘shared social decision-making . . . outside the constraints of the business economy,’ hence a major step towards true democracy.”
"This is a fine book. It argues against the illusion that the current crisis is just a bonfire of contingent market forces, exposes economics as the dismal science that it is, and opposes the idea that capitalism is not some sort of economic mechanism that, if expertly regulated by those in the know, works well for the benefit of all. Mattick has to be congratulated not just for writing an immensely rich account of the current crisis but, also, for doing so with immense historical insight, theoretical cunning, and astute political judgement."
(Werner Bonefeld, University of York)
About the Author
Paul Mattick is chair of the Department of Philosophy at Adelphi University in New York. He was previously the editor of the International Journal of Political Economy, and he is the author of Social Knowledge.