The crisis of capitalism

Alex Moslopolous
    The flow of money through capitalist societies is the basis of the David Harvey book "The Enigma Of Capital" and in it Harvey looks at the rise of a new form of finance capitalism that evolved out of the crisis of job depletion and exportation in America. Professor Harvey is one of the top critics of modern day capitalism and how it has radically been overtaken by speculators and risk takers that have helped create the numerous bubbles and busts helping lead to the downfall of the West. The examination of this new credit economy that relies of large personal debt to make up for the shortfalls of the new economy and common job displacement is the basis of  today's capitalist system that is opaque and benefits a very few while causing stressful conditions for the masses. The geographical dynamics of capitalist development over time and environmental impacts is brought up in this book as David Harvey looks as capital transcends borders and regions causing frequent crisis and economic instability and displacement for those without the power of decision. The complexity of decision making and how capitalism ensures it will only be in a few hands in top business and government minds is a sign of system failure and the utmost argument for the end of this erratic system. The best chapter of David Harvey's book is chapter six that is called the geography of it all. Mr Harvey looks at the uneven geographical development of capital and this pretty much explains why some groups of people appear to be smarter and more successful than others i.e. Chinese,Jews . Capitalists and their agents take an a river ole in determine wealth distribution around the world. Capital accumulation in a select global cities that thrive on exploiting peasant sand other uprooted from their traditional lands to exploit wage labor is the result of capital wing in so few hands. Harvey looks at regional uprisings to neo-liberalism around the world from Maoists in India,  Zapatistas in Mexico,communists in Nepal, and the Taliban as marginal zones rebelling against inequality distribution of wealth. The problem he says there is no unified anti-capitalist movement that can successfully challenge the capitalist class reproducing every generation perpetuating its power on an increasing smaller world. There is however some hope as many are awakening to the extraction of wealth from the credit masters on Wall Street and the Ponzi schemes and corporate fraud that has been the cornerstone of their existence from day one and the austerity programs have been massive resistance from a growing restless population.

No comments:

Post a Comment