Council for the Development of Social Science Research in Africa
Conseil pour le développement de la recherche en sciences sociales en Afrique
Conselho para o Desenvolvimento da Pesquisa em Ciências Sociais em África
مجلس تنمية البحوث الإجتماعية في أفريقيا


Financial Crisis ? Systemic Crisis ?

Samir Amin. Financial Crisis ? Systemic Crisis ? Dakar, CODESRIA, Lectures Series n°3, 2010, 18 p. ISBN: 978-2-86978-311-9

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The financial collapse of September 2008 was the unavoidable result of the long systemic crisis that had been gangrening the generalised oligopoly capitalism since the 1970s. To curb that crisis, mechanisms were set in place to preserve the monopoly of capital through policies that ensure concentration of capital and the direct and exclusive domination of a small group of oligopolies. Financialisation, which was the consequence of this centralisation as the only guarantee to capture the imperialist rent was, however, the Achille’s heel of the system. The policies pursued by the collective imperialist triad (USA, Europe, Japan), which aim exclusively at restoring the system to what it was before 2008, are bound to fail. As a result, the North-South conflict moves to the forefront. By taking independent initiatives, the countries of the South can take this opportunity to move ahead towards the construction of the only effective and viable alternative for their liberation from the domination of imperialist monopolies.

Samir Amin is an eminent professor of developmental political economics. He taught economics at both Poitiers University in Paris and Cheikh Anta Diop University in Dakar, after which he became Director of UN-IDEP, Dakar (1970 – 80), Executive Secretary of CODESRIA (1973 – 75) and Director, Third World Forum, Dakar (1980 – date). Professor Amin has published extensively in the fields of law, civil society, socialism, colonialism and development, particularly on Africa, and the Arab and Muslim world. Some of his most recent publications are: Beyond US Hegemony (2006), A Life Looking Forward: Memoirs of an Independent Marxist (2006), The World We Wish to See: Revolutionary Objectives for the 21st Century (2008) and From Capitalism to Civilization: Reconstructing the Social Perspective (2010). Others include: Pour la ciquième internationale (2006), Du capitalism à la civilisation (2008), Modernité, Religions, Démocratie, Critique de l’eurocentrisme, Critique du culturalisme (2008), L’éveil du Sud, Panorama politique et personnel de l’ère de Bandoung (2008) and Sur la crise, sortir de la crise du capitalisme ou sortir du capitalisme en crise (2009).

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