David Harvey: The Crises of Capitalism

David Harvey is giving a talk about his book The Enigma of Capital on fora.tv:

http://fora.tv/2010/04/26/David_Harvey_The_Crises_of_Capitalism

It is a compelling analysis of the financial crisis. According to Harvey, the underline problem is that our economic system requires 3 % compound growth, which, in turn, requires 1.5 trillion dollars per year worth of profitable investment opportunities. Part of Harvey’s thesis is that we’re at an inflexion point where this isn’t feasible anymore. The only way we can have that level of growth is by creating fictions that cannot last.

Harvey concludes by saying that we need a completely different form of economy that has control over the production and utilisation of the surplus.

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