David Harvey
The Enigma of Capital and the Crises of Capitalism
September 02, 2019 Comments.. 351
The Enigma of Capital and the Crises of Capitalism David Harvey For over forty years, David Harvey has been one of the world s most trenchant and critical analysts of capitalist development In The Enigma of Capital, he delivers an impassioned account of how unchecked neoliberalism produced the system wide crisis that now engulfs the world Beginning in the 1970s, profitability pressures led the capitalist class in advanced countries tFor over forty years, David Harvey has been one of the world s most trenchant and critical analysts of capitalist development In The Enigma of Capital, he delivers an impassioned account of how unchecked neoliberalism produced the system wide crisis that now engulfs the world Beginning in the 1970s, profitability pressures led the capitalist class in advanced countries to shift away from investment in industrial production at home toward the higher returns that financial products promised Accompanying this was a shift towards privatization, an absolute decline in the bargaining power of labor, and the dispersion of production throughout the developing world The decades long and ongoing decline in wages that accompanied this turn produced a dilemma how can goods especially real estate sell at the same rate as before if workers are making less in relative terms The answer was a huge expansion of credit that fueled the explosive growth of both the financial industry and the real estate market When one key market collapsed real estate the other one did as well, and social devastation resulted Harvey places today s crisis in the broadest possible context the historical development of global capitalism itself from the industrial era onward Moving deftly between this history and the unfolding of the current crisis, he concentrates on how such crises both devastate workers and create openings for challenging the system s legitimacy The battle now will be between the still powerful forces that want to reconstitute the system of yesterday and those that want to replace it with one that prizes social justice and economic equality The new afterword focuses on the continuing impact of the crisis and the response to it in 2010 One of Huffington Post s Best Social and Political Awareness Books of 2010 Winner of the Isaac and Tamara Deutscher Memorial Prize for 2010 Praise for the Hardcover A lucid and penetrating account of how the power of capital shapes our world Andrew Gamble, Independent Elegant entertainingly swashbuckling Harvey s analysis is interesting not only for the breadth of his scholarship but his recognition of the system s strengths John Gapper, Financial Times. The Enigma of Capital and the Crises of Capitalism For over forty years David Harvey has been one of the world s most trenchant and critical analysts of capitalist development In The Enigma of Capital he delivers an impassioned account of how unchec
  • Title: The Enigma of Capital and the Crises of Capitalism
  • Author: David Harvey
  • ISBN: 9781846683084
  • Page: 121
  • Format: Hardcover
  • The Enigma of Capital and the Crises of Capitalism David Harvey

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      121 David Harvey
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      Published :2019-09-02T03:38:13+00:00

    1 Blog on “The Enigma of Capital and the Crises of Capitalism

    1. Maru Kun says:

      I first read this book in 2013, two years after it was written, and found it an eye opening critique of events leading up to the global financial crisis.I came across a review of the work in the London Review of Books and this encouraged we to revisit some of the passages I had highlighted when I first read through it After all, it s five years since the book was written a long time in economics as well as politics these days.Well, quite a few passages have passed the test of time To start off w [...]

    2. Andrew Martin says:

      Picked this up because Harvey was the only person I had run into who had a plausible explanation why 500K condo towers were suddenly being thrown up in downtrodden parts of Brooklyn, as summarized in n 1 Harvey s answer was that under capitalism land becomes a pure financial asset land price is a claim on future revenue treated as a present day asset Mortgages, Marx said, are mere titles on future rent And Harvey completes his thought Land price must be realized as future rental appropriation, w [...]

    3. Hadrian says:

      The current financial crisis is one which has unusually lengthy and severe As also seen in the Great Depression, there have been real questions of whether this is a deeply inherent structural reason behind depression, instead of this being a cyclical matter on a global scale David Harvey, noted critic of the current neoliberal system, goes after many of the current assumptions of the world system Capital, he says, is the lifeblood of modern economies It can contribute to levels of growth and tru [...]

    4. Rurae says:

      In between reading smut, I like to read serious shit Shocking I know And this book is the best serious shit book a person can read I have read a lot of books on the financial crisis and woeful state of the Western economies and this is hands down the best.Harvey paints a very accurate picture of everything wrong with late stage, neo liberal capital And he does so in an easy to read and understand manner He looks at the issue from a macro perspective and shows how the whole system is unstable and [...]

    5. Tyler says:

      I wish this book had had footnotes and less exclamation points Harvey s strong points are on his analysis of urban living and how capital moves from country to country.I suppose I agree with his analysis that there is something about capitalism in general that is doomed to fail the constant quest for of it , but I guess after having read this book I came away wondering if I would have been better off just reading Das Kapital by Karl Marx instead.

    6. 0spinboson says:

      In this book, David Harvey tries to explain the causes of the current economic crisis, which he argues is the last in a string of crises that started roughly in the early 1970s, but for which the ground work was laid basically at the end of World War II.Harvey argues that the boom bust cycles we ve seen in the past 20 30 years, and especially the current one, are the consequence of the fact that too much investment capital is chasing too few investment opportunities a problem that is actually ex [...]

    7. Malcolm says:

      Every now and then I read something that helps make sense of the really big picture this is one of those books and it is simply superb For at least the last 25 years or so I have been involved in work with friends and comrades I use the word broadly on ways to make sense of the post Really Existing Communist world of finance capital, and in doing so have tried to keep up with developments on the left and in the broad social movements Our early, and unsuccessful, efforts centred on ideas of ways [...]

    8. Ed says:

      David Harvey isn t Marxist than Marx but he does a good job of making one think that is the case His masterful explication of Capital, Volume One available on YouTube shows that he knows the critiques of capitalism extremely well One point he returns to often is the resiliency of this system of production and social organization in order to survive capitalism must reinvent itself in response to crisis something that it has been able to do for a couple of centuries While the fabric is getting ve [...]

    9. Tara Brabazon says:

      David Harvey is a remarkable scholar His work on postmodernity transformed my thinking on the subject The Enigma of Capital is similarly revelatory This is the finest analysis I have read of the financial crisis Most impressively, he explores why capitalism is irrational and probes the problematic gap between the reality and representation of capitalism This book is outstanding.

    10. Holly Wood says:

      So concise and yet could be made still concise Just slightly too obtuse but only slightly to be accessible to the lay reader as an introduction to the 2008 collapse Very recommended, however, to anyone who wants all the disparate puzzle pieces of neoliberalism brought together into one chronological argument.

    11. H Wesselius says:

      AS much as I agreed with his views and thought his analysis to be dead on, I oculdn t get excited about reading this book In order to dissuade people from the prevailing neo liberal bs, leftist writers need to be far readable.

    12. Andrew says:

      Score 4.5 The Enigma of Capitalism wherein David Harvey attempts to show the reader that capitalism is inherently self contradicting.Harvey s book tackles capitalism at a very high level He never refers to behavior of individual people and rarely of individual corporations, but instead tackles broad trends growth, surplus absorption, international finance controls At this level, Harvey takes on the daunting task of explaining not that markets can fail, not that greed can cause crises, but that c [...]

    13. Michael H. says:

      The Enigma of Capitalism and the Crises of Capitalism, by David Harvey analyzes the 2008 economic crisis and critiques the vast inadequacies and contradictions of capitalism Harvey explains the occurrences in the world in terms of capitol flows, how colonialism, neocolonialism, culture hegemony, wars, financial crisis s come about because of the inherent tensions caused by capitalism An analysis of Harvey s book, The Enigma of Capitalism and the Crises of Capitalism provides a clear understandin [...]

    14. Clif says:

      I came to this book on a recommendation that it offered insight into MMT, Modern Monetary Theory, a school of economics that deals with the world as it really is as opposed to the traditional teaching of economics which is buried in ideas and mathematical formulas which, though allowing the construction of wonderfully concise graphs with neatly intersecting lines, don t accord with what we see happening around us The recommendation led me astray.David Harvey is obviously fond of the works of Kar [...]

    15. Gaetano says:

      In questo libro, David Harvey, geografo esperto in economia politica, con un linguaggio comprensibile anche ai non addetti, riesce bene ad introdurci al funzionamento della societ capitalistica moderna ed alle sue inevitabili e periodiche crisi.Il capitalismo genera in se il germe della sua crisi, ricordo dagli studi da liceale, e di crisi si parla ancora spesso, soprattutto con riferimento a quella, che sembra non finire mai, iniziata in America quasi dieci anni fa.Le crisi dice Harvey servono [...]

    16. Rjurik Davidson says:

      This is an excellent introduction to the question, Why is capitalism so crisis prone Harvey begins with the events of the 2008 financial crisis and then moves to abstract considerations such as the widely accepted need for 3 percent growth, the various barriers to this, including geography, labour relations, the environment, technology and so on In all this, Harvey gives a fairly comprehensible account of his own brand of Marxism Perhaps the most obvious omission is any sustained attempt to the [...]

    17. D Warner says:

      In The Enigma of Capital, David Harvey outlines an accessible critique of the current economic crisis, which he explains can be accounted for through the fact that excess capital has stopped flowing, and, as a result, compound growth has ceased,thus leading to a, mostly, worldwide crisis, which exposes the interconnectedness of the capitalist marketplace While, the above is Harvey s thesis his critique goes well beyond simply mulling over the moment that we are experiencing and offers a comprehe [...]

    18. David Anderson says:

      Rather than review this myself, I m going to recommend you check out this excellent review by Ed Rooksby at Marx and Philosophy marxandphilosophy revieI will make a couple of remarks, however One nice thing about Harvey is the way he makes the complex concepts employed accessible to the average reader he avoids obtuse jargon and cant You won t have to struggle through this as you would with some dense tomes of philosophy and theory I also must remark that, not only was his analysis of the crisis [...]

    19. Peter Harrison says:

      This is an effective critique of modern capitalism before, during, and after the current crisis Harvey uses a framework that I first encountered in his Companion to Marx s Capital There he picks out 6 categories from a footnote in the original text to form the dialectic underpinning for practical analysis of capitalism relation to nature, technology, modes of production, social relations, reproduction of daily life, and mental conceptions of the world.The most compelling part of the book to me w [...]

    20. Andrea says:

      The newest book on the crisis, it certainly succeeds in Harvey s aim to make it as accessible and readable as possible I love Harvey s incredible skill in combining decades of thought and experience around complicated economic analysis, with the ability to rethink, retheorize, expand our repertoire of how to understand today s world and economy as a foundation for building something better and something new In it you can see the effects of his work with the grassroots justice groups forming New [...]

    21. Andrew Marr says:

      Not the easiest read but not hopelessly difficult if one has some patience Harvey s analysis of the dynamics of capitalism how it generates crises that hurt a lot of people is compelling The basic principle seems to be that the economy must perpetually expand at 3% or the economy jams Unfortunately, the expansion always has serious ecological human costs In some ways the expansion of capitalism is self defeating when accompanied by wage suppression which hampers the buying power of people who co [...]

    22. Paul W says:

      Harvey bring a neo Marxist critique of capitalism questioning the environmental and societal costs of capitalism s quest for perpetual 3% growth He argues that compound growth forever is not possible p227 and that questioning the future of capitalism itself ought to be in the forefront of current debate p217 The core premise of Harvey s critique of the capitalist system is that crises are necessary to the evolution of capitalism as money, labour power and capital p117 He includes a number of fac [...]

    23. Özgür Öztürk says:

      Krali e Kas m 2008 de LSE i ziyaret etti inde, nas l olupta hi bir iktisat n n krizin gelece ini ng remedi ini sormu tu.6 ay sonra, BA nin mensubu olan iktisat lar kendilerine bir l de z r kokan mektubu yolluyorlard Majesteleri, zet olarak, krizin zamanlamas n , kapsam n , ve ciddiyetini ng rme ve ortaya kmas n engelleme konusundaki ba ar s zl k,bir ok nedemi olmakla birlikte, esas olarak, bir ok parlak insan n kolektif hayal g c n n bir b t n olarak sisteme y nelen riskleri anlama konusundaki b [...]

    24. Anthony Garcia says:

      I find it difficult to believe this is David Harvey s best I think he has some great insights into the fact that money flows around the world, but this book doesn t get very detailed in shedding light on the actors or the specific ways in which investment money moves from place to place in search of interest profit.The chapters give the feel of shorter essays that do flow, but not as well as they could.I will try Seventeen Contradictions and the End of Capitalism next Some of the videos in which [...]

    25. Robert C says:

      Frankly, if he had a point, I never saw it bring made It was an interesting look at economic history and philosophy However, it was unreadable dull As stated, I never did get to the part where he makes a meaningful point, it just meanders about.

    26. Kane Faucher says:

      It is good for what it is Harvey swings a mighty bat at neoliberal capitalism, but this book is geared for a general audience than something academically refined like the works of Peck and Tickell.

    27. Danae says:

      M s claro echarle agua

    28. Ralphe Wiggins says:

      I ve been searching for understanding why

    29. Marius says:

      I don t buy most of his arguments He s using a lot of negative qualifiers without actually making it clear why what he is talking about should be so bad

    30. Robharries says:

      Didn t enjoy it, but it is better than two stars, its just this is slightly out of date thanks to a somewhat fragile economic recovery in the UK and US.Not bad, but not great either.

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