Saturday, November 13, 2010

A G20 Lament

The G20 summit has come and gone but without solving the currency crisis that absorbs the developed world, the latest spasm in our global meltdown.   We've heard endless theories about what is really wrong with the system but here's a fresh, and compelling, explanation from renowned academic David Harvey.   He takes a Marxist scalpel to dissect the beast:



If David Harvey's perspective has left you in a funk, take heart.  The fiscal wizards remain alive and well.   Here's a British take on the subprime collapse.   This will cheer you up:

3 comments:

Volkov said...

Maybe I'm missing something, but he never actually explained how the fix the problem except "become an anti-capitalist and jail financiers."

The point-of-view and the dissection is interesting, yes, but the solution is almost non-existent. Are we all to become Marxists now, or what?

Cherniak_WTF said...

I was told that to understand capitalist, you should read Marx... still holds true it seems.

The Mound of Sound said...

Hi Volkov. Harvey admits he doesn't have a solution, Marxist or otherwise, to break this destructive cycle. Yet the cracks in free market capitalism are beginning to emerge as America ebbs and China ascends. The looming currency wars are but one example. Obama asking China and Germany to cap their trade balance surpluses is another. This is powerful stuff that's going on barely noticed because, I expect,it's too complex and uncertain for knuckledraggers like Glenn Beck to feed their audience.

@ CWTF, when I joined the RCAF in the 60s we were required to read The Communist Manifesto in officer school. I think they wanted us to pretend we understood what the hell the other side was on about.