It said that half of the students would be community activists and that the course would delve into the philosophy and history of social justice movements "in the context of modern capitalism, the limits of the welfare state, the meaning of globalization, and the impasse of radical politics.

They write that although it is always highly volatile, the robust and globally dominant U.S. financial system facilitated this economic restructuring while making pools of venture capital available for investment in new, high-tech firms.

[1] According to Gindin and Panitch, the institutional foundations for American-led global capitalism were laid during the Great Depression of the 1930s when the Roosevelt administration strengthened the U.S. Federal Reserve and the U.S. Treasury while establishing a wide range of economic and financial regulatory agencies.

[1] The authors argue that these state financial and military institutions made the U.S. into a Great Power capable of superintending the spread of its own brand of capitalism.

Panitch and Gindin write that the American-financed post-war rebuilding of Europe and Japan, "through low-interest loans, direct grants, technological assistance, and favourable trading relations," created the conditions for investment by U.S. multi-national corporations and eventually for substantial foreign investment in the U.S.[1] As they trace the history of global capitalism, Gindin and Panitch write that in the years after World War II, the U.S. succeeded in building an "informal empire" integrating other capitalist states into a co-ordinated, global capitalist system: The U.S. informal empire constituted a distinctly new form of political rule.

[1]Although the U.S. dominates in this informal, imperial system, Gindin and Panitch argue that other advanced capitalist states maintain their sovereignty, but must defer to American wishes when it comes to military interventions abroad.

But, as the authors point out, capitalism is prone to crisis, and the 1970s produced "stagflation", simultaneously high rates of inflation and unemployment, stagnant economies and declining profits.

The adoption of neoliberal policies during the 1980s led to state restrictions on strikes and organizing rights making it possible for capitalists to "discipline" workers by demanding greater "flexibility" in hours and working conditions and by holding down wages.

[1] According to Gindin and Panitch, the neoliberal era ushered in a second, highly-profitable "golden age", but this time only for the capitalist class, not for workers whose wages stagnated while union membership declined.

[1] The final chapter in the book is devoted to a detailed examination of the 2007–2008 financial crisis bringing an end to high corporate profits as millions lost their homes and consumer spending fell.

The decisive role of American state agencies in encouraging the development of mortgage-backed securities figured prominently in their spread throughout global financial markets.