David Harvey explains the crisis of capitalism with a Marxist perspective. He believes the problem to the current crisis is the excessive power of finance capital. He explains that wages and national income have become stagnant, and that this results in less money for people to be able to buy goods and it decreases demand. According to Marx, in capitalism, wealth takes the form of commodities. The capitalists, who own the instruments of production, produce goods only to get a profit. They do this by making the workers sell their labor power for a wage. With the profit, capitalists create ways to increase productivity and in turn make more money. This makes the capitalists wealthier while the workers get poorer. Marx says that this will lead to a crisis because of the class struggle, which will invoke a class consciousness. Harvey agrees with Marx and says that the power the financiers had made them too greedy. All the accumulation of wealth is in the hands of the financiers. He believes the solution for this is to join and anti-capitalist organization and change our way of thinking.
akeya928 on FASHION- BLOG # 3 akeya928 on Blogpost #5-Goffman akeya928 on Charlotte Perkins Gilman: Gend… akeya928 on Blog: Goffman “England riots:…
- Nicole Hala