impact when it burst, as mortgage-backed securities became difficult to value and to sell, thus freezing the world's financial markets. Gindin and Panitch add that the collapse of housing prices led to a sharp decline in U.S. consumer spending because housing represented a main source of workers' wealth. "The bursting of the housing bubble," they write, "thus had much greater effects than had the earlier bursting of the stock-market bubble at the turn of the century, and much greater implications for global capitalism in terms of the role the U.S. played as 'consumer of last resort'." The authors note that the U.S., as manager-in-chief of the global capitalist system, once again came to the rescue with billions of dollars in bail-out money for domestic and foreign banks. Work Books The Socialist Challenge Today (co-authored with Leo Panitch and Stephen Maher), Merlin Press: 2019 The Making of Global Capitalism: The Political Economy of American Empire (co-authored with Leo Panitch), Verso: 2012 In and Out of Crisis: The Global Financial Meltdown and Left Alternatives (co-authored with Greg Albo and Leo Panitch), PM Press: 2010 The Canadian Auto Workers: The Birth and Transformation of a Union, James Lorimer & Company: 1995 Articles Superintending Global Capital (co-authored with Leo Panitch), New Left Review 35, 2005 Global Capitalism and American Empire (co-authored with Leo Panitch), Socialist Register 40, 2004 References External links Sam Gindin, The Canadian Auto Workers: The Birth and Transformation of a Union (Look inside the book at amazon.ca) Sam Gindin: Unmaking Global Capitalism. Nine things to know about organizing in the belly of the beast. Jacobin magazine, No. 6, Brooklyn 2014 Sam Gindin bio on the York University website. Sam Gindin articles on the Socialist Project website. Year of birth missing (living people) Living people University of Wisconsin–Madison College of Letters and Science alumni Canadian socialists Canadian Auto Workers people York University faculty People from Winnipeg Soviet emigrants to Canada Deutscher Memorial Prize winners