The Political Economy of Global Capitalism and Crisis: 1st Edition (Paperback) book cover

The Political Economy of Global Capitalism and Crisis

1st Edition

By Bill Dunn


188 pages | 9 B/W Illus.

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The book provides a theoretically and historically informed analysis of the global economic crisis.

It makes original contributions to theories of value, of crisis and of the state and uses these to develop a rich empirical study of the changing character of capitalism in the twentieth century and beyond. It defends, uses and develops Marxist theory while arguing particularly against jumping too quickly from abstract concepts to a concrete understanding of the crisis. Instead, it uses what Marx described in his notebooks as an ‘obvious’ analytical ordering to progress from a general analysis of economy and society to a discussion of recent economic transformations and the specifics of the crisis and its aftermath.Dunn argues that appropriately reconceived, a critical Marxism can incorporate and enrich rather than rejecting insights from other traditions. He disputes general characterisations of capitalism to the crisis and theories which see finance and the contemporary financial crises as largely detached from other aspects of the economy and society.

Providing a thoroughly socialised and historically based account, this book will be vital reading for students and scholars of political economy, international political economy, Marxism, sociology, geography and development studies.


"The strength of Dunn's book is that it presents a lucid theoretical ap­praisal of the global capitalist sys­tem that depicts its crisis-proneness, and explains the causative factors of the 2007-2008 financial crisis in the world's capitalist order while affirm­ing the geographical mobility of capi­tal in search of higher profit margins. In addition, the book is a scholarly contribution to the raging discourse on the political economy of the glo­balization of capitalism by the U.S. and the affluent countries of Europe and its implications for the rest of the world."

John Olushola Magbadelo, 2019

Table of Contents

1. Understanding the political economy of global capitalism and crises, 2. Capitalism and other social orders, 3. Value theory in an incompletely capitalist society, 4. The heterogeneity of capital, 5. A contribution to a theory of crisis and recovery, 6. States and global capitalism, 7. The Keynesian moment and its contradictions, 8. Global restructuring: extensive accumulation and financialization, 9. The world market and the Crisis, 10. Recession or renewal, 11. Re-locating capital?

About the Author

Bill Dunn is Senior Lecturer in the Department of Political Economy, University of Sydney, Australia.

About the Series

RIPE Series in Global Political Economy

For almost two decades now, the RIPE Series published by Routledge has been an essential forum for cutting-edge scholarship in International Political Economy. The series brings together new and established scholars working in critical, cultural and constructivist political economy. Books in the RIPE Series typically combine an innovative contribution to theoretical debates with rigorous empirical analysis.

The RIPE Series seeks to cultivate:

  • Field-defining theoretical advances in International Political Economy
  • Novel treatments of key issue areas, both historical and contemporary, such as global finance, trade, and production
  • Analyses that explore the political economic dimensions of relatively neglected topics, such as the environment, gender relations, and migration
  • Accessible work that will inspire advanced undergraduates and graduate students in International Political Economy.

James Brassett – Warwick

Eleni Tsingou – Copenhagen Business School

Susanne Soederberg – Queen’s

Learn more…

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