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David Harvey- The Enigma of Capital [Kindle azw3]

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 							For over forty years, David Harvey has been one of the world's most trenchant and critical analysts of
capitalist development. In The Enigma of Capital, he delivers an impassioned account of how unchecked neoliberalism
produced the system-wide crisis that now engulfs the world. Beginning in the 1970s, profitability pressures led the
capitalist class in advanced countries to shift away from investment in industrial production at home toward the higher
returns that financial products promised. Accompanying this was a shift towards privatization, an absolute decline in
the bargaining power of labor, and the dispersion of production throughout the developing world. The decades-long and
ongoing decline in wages that accompanied this turn produced a dilemma: how can goods--especially real estate--sell at
the same rate as before if workers are making less in relative terms? The answer was a huge expansion of credit that
fueled the explosive growth of both the financial industry and the real estate market. When one key market
collapsed--real estate--the other one did as well, and social devastation resulted. Harvey places today's crisis in the
broadest possible context: the historical development of global capitalism itself from the industrial era onward. Moving
deftly between this history and the unfolding of the current crisis, he concentrates on how such crises both devastate
workers and create openings for challenging the system's legitimacy. The battle now will be between the still-powerful
forces that want to reconstitute the system of yesterday and those that want to replace it with one that prizes social
justice and economic equality. The new afterword focuses on the continuing impact of the crisis and the response to it
in 2010. One of Huffington Post's Best Social and Political Awareness Books of 2010 Winner of the Isaac and Tamara
Deutscher Memorial Prize for 2010 Praise for the Hardcover: "A lucid and penetrating account of how the power of capital
shapes our world." --Andrew Gamble, Independent "Elegant... entertainingly swashbuckling... Harvey's analysis is
interesting not only for the breadth of his scholarship but his recognition of the system's strengths." --John Gapper,
Financial Times 						

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