Is Capitalism good or bad; right or wrong? Must watch video

in Blogs Finance by Bill Hadala — July 7, 2010 at 10:46 am | 0 comments

Editor’s Note / Disclosure – This is a very interesting post… Great video, yet what do you think?

Though Dr. Harvey comes from a Marxist socio-economic frame of thought, which I do not agree, this video makes a lot of sense as I ask you to be the judge on what you watch versus what you think before ever even watching the video because of predetermined judgment.  Thanks - William Michael – Editor Democracy March

David Harvey on The Crises of Capitalism
by Charles Lemos, Wed Jul 07, 2010 at 01:40:36 AM EDT

David Harvey, the British-born geographer and Professor of Anthropology at CUNY, spoke at the Royal Society for the encouragement of Arts, Manufactures and Commerce (RSA) in London recently on the Crises of Capitalism. The RSA, in turn, produced this short animated feature.

Dr. Harvey, who is perhaps best known for his critique of neo-liberalism, remains one of the leading exponents of Marxist socio-economic thought. Having said this listen to his brief 11 minute lecture and see if there is anything with which you can disagree. Dr. Harvey is currently on a lecture tour for his Marxist critique of both the global financial crisis and the narratives told about it.

The principal question that he addresses is it time to look beyond capitalism towards a new social order that would allow us to live within a system that could be responsible, just and humane?

Dr. Harvey references Hyman Minsky, an American economist now deceased, who took a jaundiced view of Wall Street’s role in the economy and how financial risk was managed. The New Yorker had a short insightful column back in February 2008 (so before the proverbial you know what really hit the proverbial fan) on Minsky and his financial instability hypothesis.

Tags: bad capitalism democracy democracy march economy good indifferent