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Depression and Polycrisis

The Global Economy in the 2020s

Michael Roberts (Autor)

Buch | Softcover

352 Seiten

2026
Haymarket Books (Verlag)
979-8-88890-601-9 (ISBN)

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We live in a moment of interlocking and compounding crises that many commentators have aptly termed the ‘polycrisis.’ Rampant inequality. Unchecked climate change. A global pandemic. And now, seething international divisions and the escalatory spiral of war and state violence. As the world moves toward the end of the 2020s, each of the pieces of this mosaic are becoming impossible to ignore, but how do they all fit together? And where is it all heading?

To answer these questions, economist and marxist commentator Michael Roberts draws on his forty-plus years of experience working in various financial institutions in the City of London to provide an empirically grounded and wide ranging appraisal of the global situation.

Roberts takes readers on a tour of the contemporary global economy, first by turning back to the Great Recession of 2008, and then offering a granular look at the economic priorities and contradictions of every region of the world. His analysis unearths the fault lines left behind by our most recent financial meltdown and how they fuel the economic engines driving the ecological crisis and resurgence of inter-imperial conflict.

What emerges from this accounting of the polycrisis is the inescapable fact that capitalism’s rapacious drive toward profit over and against any geopolitical boundaries or plenary limits threatens both humanity and the planet.

Introduction

Profitability and crises - on the underlying driver of capitalist accumulation and growth and its relation to investment and productivity

Cycles and long waves

Tracing the way that capitalist development takes the form of cycles, or waves, with varying degree of expansion or slowdown

The tepid twenties

A survey of the state of the world economy in the 2020s so far this decade

The regions

US/Canada

Europe

Asia

Latin America

Africa

Offering a more granular tour of the world’s major regions

China: the exceptional economy

Continuing on this global tour, but with a special focus on the most dynamic engine of global growth: China

Imperialism and the decline of US hegemony

Following from the analysis of China, this chapter examines the way that imperialist competition between China and the US has shaped an emerging global order with waning US influence

Polycrisis:

Inequality, Poverty,

Environment

Geopolitical conflict

Appraising the major constituent parts of what has been described as the Polycrisis—multiple, simultaneous crises in different spheres—and what its contradictions portend for the coming period

Time is running out (9k)

The final chapter considers the future of world capitalism as it enters the 2030s. Is there any realistic hope that things could change, or is humanity and the planet headed toward calamity and destruction?

Appendix: Measuring GDP

Appendix: Measuring the Rate of Profit

Appendix: A Marxist theory of inflation

Appendix: Measuring imperialist exploitation

Erscheint lt. Verlag	1.12.2026
Zusatzinfo	Illustrations
Verlagsort	Chicago
Sprache	englisch
Maße	152 x 228 mm
Themenwelt	Sozialwissenschaften ► Politik / Verwaltung ► Politische Systeme
	Sozialwissenschaften ► Politik / Verwaltung ► Politische Theorie
	Wirtschaft ► Volkswirtschaftslehre ► Wirtschaftspolitik
ISBN-13	979-8-88890-601-9 / 9798888906019
Zustand	Neuware