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Macmillan Higher Education Palgrave Higher Education

The Spectre at the Feast

Capitalist Crisis and the Politics of Recession

ISBN 9780230230743
Publication Date June 2009
Formats Hardcover Ebook Paperback Ebook 
Publisher Palgrave

After a long feast of prosperity in the western world, the crisis in the financial markets has conjured up an old spectre – the spectre of capitalist crisis, which many thought had been finally exorcised. On past experience, a full-blown capitalist crisis would bring with it the threat of slump, collapse, polarisation, conflict, and even war, spreading to all parts of the global economy - hence the great efforts being made to contain the present downturn. This important new book by a leading authority sets the financial crisis of 2007/8 in historical context and assesses its global consequences, how far it might go, and what is to be done.

ANDREW GAMBLE is Professor and Head of Department of Politics, University of Cambridge. His many books include Britain in Decline, The Free Economy and the Strong State and Between Europe and America also published by Palgrave Macmillan. He is a Fellow of the British Academy and the Academy of Social Sciences and was awarded the Sir Isaiah Berlin Prize for Lifetime Contribution to Political Studies by the UK Political Studies Association in 2005.

Introduction: The Road to Excess
From Boom to Bust
Crises of Capitalism
Globalization and neo-liberalism
The Politics of Recession
The Global Impact
What is to be Done?


"Timely and accessible, a must read for anyone interested in the competing explanations of the current financial crisis and possible solutions." - Professor Herman M. Schwartz, University of Virginia, USA"A very timely, eloquent and learned introduction to the nature and causes of capitalist crises. It delivers just what students and citizens need to help navigate through these trying economic times." - Professor Jonathon W. Moses, NTNU, Norway and Visiting Scholar, University of Washington, USA"A highly readable account of the current global crisis, its likely trajectories and possible consequences, embedded in a brief but informed overview of theories of capitalist crisis. I really like the book and, in particular, the clear way in which it draws out the roots of the crisis in the neo-liberal response to the collapse of Keynesianism in the 1970s" - Professor Henk Overbeek, VU University Amsterdam, The Netherlands
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