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The Enigma of Capital: and the Crises of Capitalism By David Harvey

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Sales Rank: #142675 in Books
Published on: 2011-09-14
Original language: English
Number of items: 1
Dimensions: 6.10" h x .90" w x 9.10" l, .90 pounds
Binding: Paperback
320 pages

From Publishers Weekly
"At times of crisis," notes eminent Marxist geographer Harvey (Spaces of Global Capitalism), "the irrationality of capitalism becomes plain for all to see." Harvey excels at a revealing and constructive analysis of global capitalism at a moment when its integration--and the attendant widespread susceptibility to its disruptions and downturns--has never been tighter or the post–cold war Western economic model for the world economy more discredited. The narrative delineates with admirable clarity the arcane details of the current financial crisis, while rehearsing the rise of capitalism as a historically specific "process" plagued by fundamental dilemmas. A Marxist perspective comes augmented and nuanced by wide reference to scholarship, close readings of Marx and Engels, and instructive examples of capitalismÖs basic tendencies in episodes like Henry FordÖs notorious Fordlandia venture in the Amazon. While certain to be controversial even on the broad left, HarveyÖs analysis joins other recent attempts (such as Raj PatelÖs The Value of Nothing) to re-think the current economic and political regime from its roots, while identifying and variously championing ready alternatives already manifesting themselves within it.
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From Booklist
Harvey, longtime academic teaching Karl Marx’s Das Capital, discusses capital flow, which is the lifeblood of all capitalist societies, spreading throughout the world like blood circulating through the human body, noting that the body dies when the blood flow stops. The author contends that many economists, executives, and politicians may not fully understand the nature of capital flows as the global institutions and lenders suck the life blood out of people everywhere, especially the poor, and central bankers’ actions result in excess liquidity, falsely believing such transfusions will cure capital-flow problems. We learn about the disruptions and destruction of capital flow and the author’s suggested guiding norms (which he readily admits are utopian), including respect for nature, radical equality in social relations, and technological and organizational innovations oriented toward the common good rather than supporting military power and corporate greed. Although this is clearly a view from the Left, and all readers will not agree with Harvey, he nevertheless offers thought-provoking analysis and ideas in this excellent but challenging book. --Mary Whaley

Review

"The narrative delineates with admirable clarity the arcane details of the current financial crisis, while rehearsing the rise of capitalism as a historically specific 'process' plagued by fundamental dilemmas."--Publishers Weekly

"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

"Brisk and persuasive... Looking at the Unites States, it is hard to see anything as Benign as the New Deal coming out of the present situation. If it does, it will probably owe a good deal to David Harvey's students."--The Literary Review

"[T]he recent near-collapse of the global economic system has added new plausibility to Marxist analysis, and David Harvey is certainly its most elegant and persuasive spokesperson . . . Harvey's [The Enigma of Capital] reminds us of the fundamental instability of the capitalist system, despite its remarkable innovations."--Tikkun

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