Posts Tagged 'economic crisis'

Hollowing Out the Middle: The Rural Brain Drain and What it Means for America, by Patrick Carr and Maria Kefalas

A unique and fascinating perspective on the effects of the recent economic trends on America’s ‘fly-over’ states. Sociologists Patrick Carr and Maria Kefalas move to a small town in rural Iowa to investigate parallel and symbiotic phenomena: ‘brain drain’, a cycle of encouraging the best and brightest to fulfill their potential by leaving the small town in favour of larger cities with more opportunities; simultaneously, as unskilled labour moves from the American heartland to countries such as China and Mexico in order to increase profits for shareholders, entire ‘brain-drained’ communities collapse overnight, leaving families without income and workers without options. MEL

Beacon Press; 2009; 224 pages

Meltdown: The End of the Age of Greed, by Paul Mason

This is a superb primer on the economic crisis of 2009 for anyone who wants to get a better handle on the immediate causes of the financial meltdown that at one stage threatened to plunge the world into another great depression. Mason, economics correspondent for the BBC’s Newsnight, begins with a colourful first-hand survey of the day-by-day drama of the crisis from what he saw on Wall Street and Washington. He identifies the deeper roots of the crisis in financialization, the ‘subprime’ housing boom and, ultimately, neoliberal economics. His prescriptions are somewhat weak, however; he recommends merely a revamped Keynesianism. SS

Verso; 2009; 198 pages


Language ought to be the joint creation of poets and manual workers. George Orwell

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