Turmoil in the banking system, rising prices, stock market jitters and recession looming… all of a sudden – after years of optimism – everyone is talking about a “crisis”.
But what caused the credit crunch? Some said lenders got “too greedy”. Others blamed the regulators. Yet more denied it was even happening.
Published in 2008 on the eve of the Great Recession, The Credit Crunch: A Marxist Analysis offers a radically different explanation.