The Enigma Of Capital - Part 5 - Professor David Harvey - London School of Economics

[atwarwithdust]

@busybuzzbuzz think you may be confusing the surplus value of labor (profit) with the surplus of goods in society (wealth). any advanced economy will produce more than what it can immediately consume; thanks to technology, we're in a position of abundance. what to do with that abundance should be socially controlled, not privately controlled. when it is, doling out workers only a portion of the value they create (e.g., wages, salaries) can be eliminated.

[atwarwithdust]

(2) harvey lists a number of spheres of life - finance, daily existence, institutional arrangements, and so forth - as if they're equal, but aren't some of these more equal than others? won't changing some have a greater or lesser effect on all the rest? and if so, which ought we give pride of place?

[atwarwithdust]

a couple questions: (1) if capitalism is (a) constantly revolutionizing and (b) to be resisted by exploiting its internal contradictions, then how can we tell whether a specific innovation counter-acts the system or helps it function more smoothly? what we take to be a revolutionary turn might just be another turn of the gears of capital itself.