The Global Crisis and Transformative Social Change

Global crises not only impact the economy and people's livelihoods, they also unsettle basic ideas and assumptions about the meaning and drivers of development. This collection of theoretical and empirical studies contributes to the global debate about the substance and politics of policy change three years into the 2007-2008 crisis. It examines the challenges and dynamics involved from the perspective of development and developing countries. In doing so it engages with some of the most pressing and contested issues. To what extent does the crisis provide an opportunity for moving away from the doctrines and policies that reinforced inequality and vulnerability? What new directions in policy, especially social policy, are required, and are developing countries moving in such directions? Are social forces and political coalitions supportive of transformative change able to mobilize? While the political underpinnings of policy change conducive to social reform - contestation, social mobilization and coalition politics - are energized in the context of crises, the nature of demands and the responsiveness of elites can vary considerably.

'This important collection opens up questions ignored by mainstream debates about international economic policy. It goes beyond the impact of the 2008 financial crisis on developing countries and on poor people to examine the politics that generate transformative change in policy thinking, and whether these developments have begun to challenge the legitimacy of neoliberal economic policy.' - Sakiko Fukuda-Parr, Professor of International Affairs, The New School, United States

'This is a definitive contribution to the literature on the 2008 financial crisis. Covering an impressive range of critical issues - from the structural changes triggered by the crisis to shifts in discourse on the unstable nature of capitalist economies and the scope for policy responses - we will find ourselves returning to it time and again to clarify our thinking on the crisis and its far-reaching consequences.' – James Heintz, Associate Director, Political Economy Research Institute, University of Massachusetts, United States

'Offering a varied set of analyses, assessing both actual policy responses to the 2008 financial crisis in the Global South and the breadth of debates stimulated by the crisis, this volume provides a sober, well-grounded and constructive alternative to current austerity-obsessed policy debates.' – Peter Brandt Evans, Professor of Sociology, University of California, United States

Contents
Overview: The Global Crisis and Transformative Social Change; P.Utting, S.Razavi & R.V.Buchholz
1. Narratives of Crisis and Crisis Response: Perspectives from North and South; B.Jessop
2. The Perils of Paradigm Maintenance in the Face of Crisis; A.M.Fischer
3. Social Reproduction in the Global Crisis: Rapid Recovery or Long-Lasting Depletion?; D.Elson
4. Shifting Global Social Policy Discourse and Governance in Times of Crisis; B.Deacon
5. Financialization and Social Policy; B.Fine
6. Policy Change in Turbulent Times: The Nationalization of Private Pensions in Argentina; C.Arza
7. Rebounding from Crisis: The Role and Limits of Social Policy in China's Recovery; S.Cook
8. The Global Economic Crisis and Labour Markets in the Small States of the Caribbean; A.S.Downes
9. From Agrarian Crisis to Global Economic Crisis: Neoliberalism and the Indian Peasantry; A.Banerjee
10. Restructuring Development to Address the Global Financial Crisis: Lessons from India; I.Hirway & S.Prabhu
11. A Political Economy Analysis of Crisis Response: Reflections on India and Thailand; D.Nathan & G.Kelkar
12. Trade Unions and the Politics of Crisis; B.Beckman
13. Chinese Migrant Workers in the Global Financial Crisis: Government and Stakeholder Interactions; Y.Yu

To download a sample chapter of the book, please click here.