HomeGroupsTalkMoreZeitgeist
This site uses cookies to deliver our services, improve performance, for analytics, and (if not signed in) for advertising. By using LibraryThing you acknowledge that you have read and understand our Terms of Service and Privacy Policy. Your use of the site and services is subject to these policies and terms.
Hide this

Results from Google Books

Click on a thumbnail to go to Google Books.

Loading...

The Enigma of Capital: and the Crises of Capitalism (2010)

by David Harvey

MembersReviewsPopularityAverage ratingMentions
4411140,977 (3.87)1
"Since the moment the deeply unsettling financial disaster erupted in September 2008, a crisis of confidence has gripped the economic mind. Experts of all stripes, from Alan Greenspan on down, were at a loss to explain what had happened. David Harvey saw this moment coming. A legendary scholar and critic of capitalism, he has been warning of problems for decades. Now, in The Enigma of Capital, Harvey provides a sweeping and brilliantly clear explanation of how the disaster happened, and how we can avoid another like it. Unlike other commentators, Harvey does not focus on subprime loans or mortgage securitization as the root cause of the calamity. Instead, he looks at something that reaches far deeper into the heart of capitalism--the flow of money through society. He shows how falling profit margins in the 1970s generated a deep transformation. With government assistance, capital was freed to flow across borders, and production moved to cheaper labor markets, depressing workers' incomes in the West. But as more and more money moved out of the laboring classes and into the pockets of the wealthy, a problem arose--how could the workers afford to buy the products which fueled the now-global economy? To solve this problem, a new kind of finance capitalism arose, pouring rivers of credit to increasingly strapped consumers. Moreover, these financial institutions loaned money to both real-estate developers as well as home buyers--in effect, controlling both the supply and demand for housing. But when the real-estate market collapsed, so did this financial edifice, an edifice that dominated our economy. We cannot afford to simply shore up this financial system, Harvey writes; we need to undertake a radical overhaul. With this landmark account, he offers a richly informed discussion of how we can turn our economy in a new direction--fairer, healthier, more just, and truly sustainable"--Publisher's description.… (more)

None.

Loading...

Sign up for LibraryThing to find out whether you'll like this book.

No current Talk conversations about this book.

» See also 1 mention

English (9)  German (1)  Spanish (1)  All languages (11)
Showing 1-5 of 9 (next | show all)
This is a great book for anyone still trying to figure out what the hell happened to our economy, why the banks failed and why the government bails out banks with taxpayer money but let's those same taxpayers lose their homes.
  roniweb | May 30, 2019 |
Interesting ( never heard ' carcareal drift ' before ) ( )
  Baku-X | Jan 10, 2017 |
This clearly written book is a must read if you really want to understand modern day capitalist society. ( )
  deblemrc | Nov 1, 2013 |
Interesting ( never heard ' carcareal drift ' before ) ( )
  BakuDreamer | Sep 7, 2013 |
A first class book that is an exposition of the true nature of destructive capitalism and why an alternative 'Party of indignation-globally' is needed.
My words do no justice to a well argued text that is rooted in sound economic and geographical analysis as geography 'places' economic growth with all it's consequences. This is mean't in a general way.
( )
  wonderperson | Mar 30, 2013 |
Showing 1-5 of 9 (next | show all)
no reviews | add a review
You must log in to edit Common Knowledge data.
For more help see the Common Knowledge help page.
Canonical title
Information from the Italian Common Knowledge. Edit to localize it to your language.
Original title
Alternative titles
Original publication date
People/Characters
Important places
Important events
Related movies
Awards and honors
Epigraph
Dedication
First words
Quotations
Last words
Disambiguation notice
Publisher's editors
Blurbers
Original language
Canonical DDC/MDS
"Since the moment the deeply unsettling financial disaster erupted in September 2008, a crisis of confidence has gripped the economic mind. Experts of all stripes, from Alan Greenspan on down, were at a loss to explain what had happened. David Harvey saw this moment coming. A legendary scholar and critic of capitalism, he has been warning of problems for decades. Now, in The Enigma of Capital, Harvey provides a sweeping and brilliantly clear explanation of how the disaster happened, and how we can avoid another like it. Unlike other commentators, Harvey does not focus on subprime loans or mortgage securitization as the root cause of the calamity. Instead, he looks at something that reaches far deeper into the heart of capitalism--the flow of money through society. He shows how falling profit margins in the 1970s generated a deep transformation. With government assistance, capital was freed to flow across borders, and production moved to cheaper labor markets, depressing workers' incomes in the West. But as more and more money moved out of the laboring classes and into the pockets of the wealthy, a problem arose--how could the workers afford to buy the products which fueled the now-global economy? To solve this problem, a new kind of finance capitalism arose, pouring rivers of credit to increasingly strapped consumers. Moreover, these financial institutions loaned money to both real-estate developers as well as home buyers--in effect, controlling both the supply and demand for housing. But when the real-estate market collapsed, so did this financial edifice, an edifice that dominated our economy. We cannot afford to simply shore up this financial system, Harvey writes; we need to undertake a radical overhaul. With this landmark account, he offers a richly informed discussion of how we can turn our economy in a new direction--fairer, healthier, more just, and truly sustainable"--Publisher's description.

No library descriptions found.

Book description
Haiku summary

Quick Links

Popular covers

Rating

Average: (3.87)
0.5
1 1
1.5
2
2.5 1
3 10
3.5 2
4 18
4.5 2
5 9

Is this you?

Become a LibraryThing Author.

 

About | Contact | Privacy/Terms | Help/FAQs | Blog | Store | APIs | TinyCat | Legacy Libraries | Early Reviewers | Common Knowledge | 151,717,905 books! | Top bar: Always visible