The Enigma of Capital: And the Crises of Capitalism

"At times of crisis," notes eminent Marxist geographer Harvey (Spaces of Global Capitalism), "the irrationality of capitalism becomes plain for all to see." Harvey excels at a revealing and constructive analysis of global capitalism at a moment when its integration—and the attendant widespread susceptibility to its disruptions and downturns—has never been tighter or the post–cold war Western economic model for the world economy more discredited. The narrative delineates with admirable clarity the arcane details of the current financial crisis, while rehearsing the rise of capitalism as a historically specific "process" plagued by fundamental dilemmas. A Marxist perspective comes augmented and nuanced by wide reference to scholarship, close readings of Marx and Engels, and instructive examples of capitalism’s basic tendencies in episodes like Henry Ford’s notorious Fordlandia venture in the Amazon. While certain to be controversial even on the broad left, Harvey’s analysis joins other recent attempts (such as Raj Patel’s The Value of Nothing) to re-think the current economic and political regime from its roots, while identifying and variously championing ready alternatives already manifesting themselves within it. (Sept.)