The Crash of International Finance-Capital and Its Implications for the Third World

Although the first edition was published in 1989 before the collapse of the Soviet Union, the analysis of the causes of the periodic crisis of capitalism is as relevant today as it was 20 years ago. In this second edition, the author provides an updated analysis of the crash of international finance-capital of 2007-2008 and draws out the likely implications for the Third World, a perspective that has received little attention elsewhere. This book is a damning critique of a system that has paid trillions of dollars to bail out international banks and financial institutions, the very institutions that were responsible tor creating the crash, while the rest of humanity--especially the majority in the Third World--suffers its devastating consequences. Nabudere argues that capitalism has lost all moral and ethical claims to be a means for progress and that it is an indefensible system.