The Enigma Of Capital And The Crisis Of Capitalism

3168 Words Nov 13th, 2014 13 Pages
A Critical Review of David Harvey’s The Enigma of Capital and the Crisis of Capitalism Sudheer Vemuru
Economics 490
10 November, 2014
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The Enigma of Capital and the Crisis of Capitalism is a forum for author David Harvey to voice his concerns on the contemporary global capitalist model. As a Marxist geographer and anthropologist, Harvey analyzes modern capitalism through a lens of skepticism that results in a scathing renunciation of the capitalist goals of perpetual accumulation and creative destruction. Harvey argues that in a world constrained by scarce resources and burgeoning social barriers, the capitalist process produces a strange dynamic that oscillates between periods of crisis and boom (40). In the end the capitalist may be able to hedge against her losses, but the vast majority of the population will wallow in the doldrums, enslaved by the power of capital and unable to pull themselves up by their bootstraps. Such is the extent of the problem we face in the wake of the Great Recession. The economy continues to grow modestly, while median household income shrinks (Noss 2). The capitalists are reloading once again at the expense of Main Street. As Harvey points out, there is a great need to reevaluate of our views of modern capitalism. The Enigma of Capital is just a starting point.
Harvey begins his analysis of capitalism with a…
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