The crisis and its effects: The economic cultures of change

Foreword by Fernando Henrique Cardoso The essays edited by acclaimed social scientist Manuel Castells and his Portuguese colleagues João Caraça and Gustavo Cardoso reveal the depth of the crisis that has plagued the world since 2008. The refined analyses presented show that much more than an economic collapse, democracy itself as a political model is collapsing. The crisis and its effects speak to the causes of this historic moment and show that the world may be close to the emergence of a new economic and institutional system. "The three organizers of the collection delve deeper into their understanding of the amalgam that resulted in 'global informational capitalism' and the reasons for its crises, which incite waves of protest. The empowerment of financial capitalism networks, created thanks to advances in information technology, the very organization of contemporary sociability into networks, and a love of innovation and freedom create the dominant corporate system and, contradictorily, turn against it," states Fernando Henrique Cardoso. The Crisis and Its Effects examines the cultures and institutions that are at the root of the crisis, as well as the conflicts and debates that may lead to a new social landscape, including the rise of alternative economic cultures in social movements that have emerged around the world. The result of a reflection project shared by a group of international sociologists and social scientists, led by Manuel Castells, João Caraça, and Gustavo Cardoso, this collection of essays shows that facing life beyond the crisis requires a complete transformation of the mindset that has led to bankruptcy, despair, and economies and societies based on an unsustainable model of financial speculation and political irresponsibility.