The crisis of the global economy

In *The Crisis of the Global Economy*, researchers from Nomade University highlight the transformations of capitalism and present compelling analyses of the most severe economic crisis since the Great Depression. The collection of articles organized by Andrea Fumagalli and Sandra Mezzadra offers innovative theoretical and political reflections on the structure of the capitalist system and its shortcomings. "The analyses of the crisis and the political consequences presented in this volume not only describe and critique the current historical period but also open it to new horizons of desire," states Antonio Negri, author of the book's afterword. The idea that finance is not an unproductive diversion, but rather the very form of capital accumulation in a capitalism that has become cognitive, guides the writings. Another thesis defended by the researchers is that the way out of the crisis will depend on the course of social conflicts arising from accumulated tensions. The authors show that in this new capitalism—cognitive capitalism—production becomes biopolitical and loses the separation between the sphere of production (labor time) and the sphere of circulation ("free" time): life time and labor time blend and become indistinguishable. The financial crisis stands out among the analyses because it threatens this new form of the capitalist production system and creates conditions for the propagation of social contradictions and conflicts.