摘要：The global economic crisis that began in 2007-2008 remains one of the most pressing issues of our time. Although governments and corporations have been constantly promoting the idea that the global economy has escaped from the nightmare scenario of catastrophe and is on the healthy path to recovery and prosperity, the life experiences of the working class across Greece, Spain, Britain, and many other countries are telling a harsh reality: we are now living through a prolonged “global slump”. This is mainly due to the austerity measures enacted in the wake of the largest financial bailout in world history, which transformed bad debts of financial institutions into public debts. Yet critical discussions on this profound crisis have largely vanished in the mainstream news media as the ruling class struggles to successfully restore the neoliberal capitalist order of the day. The problem here becomes evident: orthodox theories of economics, finance, and public policy have utterly failed to address the systemic crisesunderpinning the global capitalist system and alternative accounts of the current situation are desperately needed
