Can capitalism survive the present trauma? Yes, of course.” But, Harvey explains, it can only do so at a terrible price. The mass of the people will be required “to give generously of their fruits of labour to those in power, to surrender many of their rights and their hard-won asset values (in everything from housing to pension rights) and to suffer environmental degradations galore, to say nothing of serial reductions in their living standards which will mean starvation for many of those already struggling to survive at rock bottom. More than a little political repression, police violence and militarised state control will be required to stifle the ensuing unrest.”
—David Harvey (who must be the only Marxist in America)
Fun stuff. This video shows a cartoon animation of Harvey’s explanation of the financial crisis, being drawn in real time with Harvey’s lecture on the audio track. Very creative delivery that adds zing to the dry academia of it all. Can one be any more contrarian than to be a Marxist in the USA of 2010?