In 2008, the world witnessed one of the most severe financial crises since the great depression of the 1930s. The global financial crisis that started to show its effects in the middle of 2007, and running into 2008, led to the fall of stock markets, and the collapse and eventual demise of large financial institutions in the United States and Europe. In response, governments in even the wealthiest nations have had to come up with rescue packages, including the bailout of their financial systems. Due to the critical role banks play in the current market system, crises in the larger banks led to a situation where not only the wealthiest, but literally everyone else, suffered,. With a globalized system, a credit crunch rippled through the entire real economy very quickly, turning a global financial crisis into a global economic crisis. What many saw as a temporary imbalance of the international financial system eventually became a real crisis of the world capitalist system; or, as Samir Amin puts it, “part of the unfolding of the long crisis of an ageing capitalism”. With the financial meltdown, all other dimensions of the crisis – the energy crisis, the food crisis and the environmental crisis – of the system came to the surface.
The conference organized by CODESRIA on 17-18 2012 in Dakar, Senegal, will propose papers on alternative thinking on the financial and economic crisis, from the point of view of the countries of the South, the role of the state in overcoming the social crisis which has been worsened by the global economic crisis, its impact on poverty and issues related to social exclusion, the reponses from the social movements, as well as the issue of global governance.
Agenda (PDF, 37.6 kb)