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127

The Space and Time of Value

1
terms
1
notes

we have to look at position in three kinds of space-time:

Harvey, D. (2017). The Space and Time of Value. In Harvey, D. Marx, Capital and the Madness of Economic Reason. Profile Books, pp. 127-153

(in the context of capitalist crisis) avoiding the low-growth phase problem by exporting manufacturing to places with cheaper labour, thereby raising profits for a while

134

there can be no permanent 'outer' resolution or 'spatial fix' to the internal contradictions of capital

—p.134 by David Harvey
notable
6 years, 9 months ago

there can be no permanent 'outer' resolution or 'spatial fix' to the internal contradictions of capital

—p.134 by David Harvey
notable
6 years, 9 months ago
147

But for fixed capital circulation to be fully effective, a number of preconditions must exist:

[...]

This requires 'a certain level of productivity and of relative overabundance, and more specifically, a level directly related to the transformation of the circulating capital into fixed capital ... Surplus population (from this standpoint) as well as _surplus production, is a condition for this.'

Capital tends, as we have seen, to produce surplus populations (an industrial reserve army) and surplus products (commodities facing problems of realisation). It thus systematically produces conditions conducive to fixed capital formation. [...]

to ponder: is this analogous to investing in education, healthcare etc (i.e., temporarily taking some capital out of circulation to invest in the long-term) and if so, are pro-capital forces who oppose those investments not just engineering their own downfall

—p.147 by David Harvey 6 years, 9 months ago

But for fixed capital circulation to be fully effective, a number of preconditions must exist:

[...]

This requires 'a certain level of productivity and of relative overabundance, and more specifically, a level directly related to the transformation of the circulating capital into fixed capital ... Surplus population (from this standpoint) as well as _surplus production, is a condition for this.'

Capital tends, as we have seen, to produce surplus populations (an industrial reserve army) and surplus products (commodities facing problems of realisation). It thus systematically produces conditions conducive to fixed capital formation. [...]

to ponder: is this analogous to investing in education, healthcare etc (i.e., temporarily taking some capital out of circulation to invest in the long-term) and if so, are pro-capital forces who oppose those investments not just engineering their own downfall

—p.147 by David Harvey 6 years, 9 months ago