'Visualizing Capital' with Professor David Harvey
ฝัง
- เผยแพร่เมื่อ 5 ก.พ. 2017
- Professor David Harvey, Distinguished Professor of Anthropology and Geography at the Graduate Center, City University of New York, and former Halford Mackinder Professor of Geography at the School of Geography and the Environment, University of Oxford, returned to his old department in January 2017, to deliver a public lecture on his work on 'visualizing capital'.
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This is revelatory, even after having watched many of Prof. Harvey's lectures all the way through multiple times. He is absolutely brilliant and his explanation of economics has literally changed my life and how I see the world.
its a real shame that more people are not watching this
As a Japanese geographer and 4D-mapper and archivist, who read Marx's Capital from volume 1 to volume 3 throughly 40 years ago in Japanese, I have realized old maps in an unified coordinate system- CAD-Globe, with 3D- aerial photos,as historical reality, to visualize economical and political status as land administration system, imaging capitalism growth. So I would like to learn Visualizing Capital.
Very interesting! Hope there's some sort of feedback on this
this really is wildly interesting, especially near the end when he talks about noble policy goals that can be hijacked if other parts of the system arent addressed. I wish there was a way to make people sit through this and watch it all
I watch all of Prof. Harvey's lectures all the way through multiple times. He is absolutely brilliant and his explanation of economics has literally changed my life and how I see the world.
great stuff
"Debt is anti-value; it's a foreclosure on the future. If the debt is not redeemed then the value is lost. Capital is mobilizing anti-value right now to promote the necessity of producing value."
In other words, as far as I can tell...the more debt people have the harder they have to work to pay off that debt, and the harder they work the more they produce. Even if their wages are high they have to work harder to pay off their debts, and debt is being normalized through credit cards and the like so that people don't see it as "bad" to have debt, especially not with the credit system giving you a score based on how you handle debt; if you don't have any history of debt then your score is worse than if you do, and if you have a lot of debt that you pay off your score is better than if you have very little debt that you pay off, and with a lower score (a zero because of no debt is worse than a bad credit rating) it's harder to participate in the economy via loans for cars, houses, businesses etc.
Without debt you don't have a stockmarket (which is people paying money for the right to be given more money later), you don't have people who make fortunes off of stock market gambling becoming super rich, you don't have banks investing your savings account money giving your account a % return, and on and on. Debt has become so ubiquitous and normal that it really does "promote the necessity of producing value" by driving the expansion of value production in order to keep the system from collapsing.
This was a great lecture. Definitely worth saving for later.
This was awesome talk. Especially the last part where prof. Harvey talked about wages. We can see how that can be manipulated. If a government passes a bill on higher wages then e.g. your IT provider can charge you higher price for consumer services. At that point that wage increase did absolutely nothing. Maybe this is part of the claim that capitalism is structural oppression. Getting out of it will be very difficult. Thanks for the upload though.
even reading first page of carchedi alone is also mind blowing, regarding decline of rates of profit, interest etc:
thenextrecession.files.wordpress.com/2017/09/carchedi-the-old-and-the-new.pdf
structural oppression: fewer and fewer people are employed at higher and higher productivity and high-ish wages to put more and more people out of work using machine learning, python, big data snooping etc and this is a commodity business really if u think about it and profits and rates of growth get lower and lower for longer and longer periods. the world today and the surprising phD idiots who run it!
Wage fixing is actually illegal, however the political will to fix it does not exist. People should be paid according to what they are worth and there should be a cap on rents.
How come this video doesn't has a million likes? (not a manufactured want, need or desire).
Does anyone have a link to a high resolution image of the capital cycle? The only one I can find online is Verso's, but it is very small
Just screenshot the image at 7:38.
David harvey is a genius
Very interesting work by David Harvey. It's good that he chose the water cycle as a comparison. In fact, the capitalist system isn't that different. Both systems get energy from the sun. Of course, capitalism also gets energy from fossil fuels, there is a great variety of materials flowing through the system, and capital itself is partly an abstract construction of social relations. The water cycle is much simpler, it gets all it's energy from the sun, and all you need to keep a look at is H2O.
Both systems have elements of matter which create a cyclical factor, and elements of energy which create an "arrow" factor. Energy is not cyclical, and the sun constantly inputs energy into our planet, making life possible. Neil Faulkner explains history as simultaneous cycles and arrows, and this approach can be applied here as well. Cycles and arrows together form spirals, so both the water cycle and capitalism are actually spiral systems. The spiral nature of history has actually been acknowledged in Marxism for a long time. However, "spiralling out of control" is a dubious statement, because capitalism is both planned and spontaneous at the same time. It can't exist without one or the other. Just look at U.S. imperialism, constantly planning for where to plunder next. What we simply need to do now is to take the spiral to the next level, establish global communism which means democratically planned resource-based economy. To achieve that, we should be fighting the bourgeoisie, not just sitting around in lecture halls.
I would suggest Geogirls videos on Biogeochemical Cycles for something a little more in depth.
The hydrologic cycle get it's energy from alot more than just the sun, it get energy from solar radiation (the sun), evaporation (change in states of matter), freezing and tension in clouds (change in states of matter), gravity, changing states of matter from liquid to solid (ex snow packs), the inertia of flow of rivers, streams, lakes, karsts, oceans (so lacustrine, fluvial, oceanic and subterranean) and alot of things.
Co-operation is a human universal. The people who don't co-operate within one structure co-operate within another. The people who isolate themselves from others are rear and die early.
mind blowing....
The notion of debt peonage is critical. Mainstream economists miss this because they do not care for debt and credit ("One person's debt is another person's asset" as per Paul Krugman). They also miss this because debt is more of a social, rather than a market, relationship, and most economists come profoundly unequipped to comprehend the social aspects of the economy.
Economists also do not study history, otherwise they will probably realize that the current "innovative" economic system is not really that new or innovative. Credit based economies existed thousands of years ago and were usually surrounded by a system of debtor protection, or, resulted in social struggles and violence (forgot the historian's name, but there was one who said that all revolts in ancient history had 1 agenda: cancel the debts and redistribute the land).
Currently, our system has the exactly opposite nature: instead of protecting debtors from predatory practices that reduce them to slavery and debt peonage, we have global bureaucratic systems that protect creditors by insisting, and enforcing (emphasis on forcing) rules that demand that debtors repay debts by all means necessary. Examples: World Bank, IMF, WTO, etc.
These are not my ideas, I'm paraphrasing David Graeber's book on Debt. A must read in the 21st century.
I believe that in Harvey's model, debt goes to the category of "interest bearing capital", but perhaps it could be emphasized a bit more. However, in generalisations some relevant points always get pushed to aside. It's not possible to grasp everything with one model.
Oh, absolutely. I am not criticising Harvey's model for being incomplete. The value of these models is that they give a great overview of the system and allow us to focus down on some particular aspects.
All I am saying is that focusing on debt should be a priority for research in today's context. 50 years ago it would have been something else (maybe Realization of Value in Money Form? Capitalists in the late 1960's struggled to maintain their profits and initiated a neoliberal revolution). 50 years from now it might be something else.
Yes, priorities change over time. Indeed debt is much more relevant than 40 years ago, when neoliberalism hadn't yet taken over. I would argue however that the priority today should be the environment. Especially the use of fossil energy sources should be resisted, because they have accelerated the system beyond control, and are causing the single most devastating effect on environment: the climate change.
Yes, no argument from me, the environment should always be considered in any decision being made, especially in today's context. But, after reading David Graeber's Debt: The First 5000 Years I am convinced that the growing private debt has to be tackled somehow. Harvey himself mentions (in another lecture, I think) that debt limits your available options. Oil shills would cry that there is no money to invest in green technologies because we have to service the debt.
Basically, my perspective is that debt is a shackle which limits states and peoples from moving towards environment saving technologies and policies. Without tackling the debt, I have little hope that we can tackle the environmental problem.
We definitely do need to get rid of debt, but we actually have to overthrow the entire capitalist system in order to do this. Debt slavery depends on a system of wage slavery. Getting rid of capitalism and starting to move towards an abolition of wage system means socialist revolution.
I have a plan to translate Alexander von Humboldt's KOSMOS as a classic of Natural History, evolution theory and ecology and environmental studies.
There is great work that has been done by Marxist economist and Modern Monetary theorist Michael Hudson in "Killing the Host" and "J is for Junk Economics", that intricately describes the role that finance plays in destroying the capitalist system.
This is a real mind expander
The entire system could be crashed by not consuming and not producing?
Well, duh.
Crash the system, save the planet.
For geography join minnat campus
>David Harvey complains that Marx gets misrepresented by many Marxists
>While he misrepresents Marx frequently himself (e.g. his rejection of Marx' LTRPF-based crisis theory,)
Nonetheless, I appreciate his effort to visualize Marx's theories.
Ez 30 minute video. 2x speed
Lol, whose man is this? somebody help him make a better visualisation.