Quotes from David Harvey

These passages on effective demand are problematic in certain respects, and Rosa Luxemburg provides a compelling challenge to Marx on this point, arguing that imperialism directed against noncapitalist social formations provided a partial answer to the effective demand problem.4 There has been debate over these issues ever since.

Yes, indeed, individual laborers will have rights over their own body and individual legal rights in the labor market. In principle they have the right to sell their labor-power to whomsoever they choose and the right to buy whatever they want in the marketplace with the wages they receive. Creating such a world is what the capitalist form of imperial politics has been about for the past two hundred years.

The rise of monetary exchange leads to socially necessary labor-time becoming the guiding force within a capitalistic mode of production. Therefore, value as socially necessary labor-time is historically specific to the capitalist mode of production. It arises only in a situation where market exchange is doing the requisite job.

It is only the expression of equivalence between different sorts of commodities which brings to view the specific character of value-creating labour, by actually reducing the different kinds of labour embedded in the different kinds of commodity to their common quality of being human labour in general. (142)

the neoliberal turn is in some way and to some degree associated with the restoration or reconstruction of the power of economic elites.

If everybody in the world suddenly decided not to use their credit cards for three days, the whole global economy would be in serious trouble. (Recall how we were all urged to get out our credit cards after 9/11 and get back to shopping.) Which is why so much effort is put toward getting money out of our pockets and keeping it circulating.

For this reason I get impatient with people who depict Marx's dialectic as a closed method of analysis. It is not finite; on the contrary, it is constantly expanding, and here he is explaining precisely how. We only have to review what we have already experienced in reading Capital; the movement of its argument is a perpetual reshaping, rephrasing and expansion of the field of contradictions.

For the elite, living comfortably in their gilded ghettos, the world must indeed seem a better place.

Redistributive effects and increasing social inequality have in fact been such a persistent feature of neoliberalization as to be regarded as structural to the whole project. Gérard Duménil and Dominique Lévy, after careful reconstruction of the data, have concluded that neoliberalization was from the very beginning a project to achieve the restoration of class power.

a button that elites can press to open the door to the masses

Isaac Newton was being called on to defend to quality of moneys as master of the Royal Mint. He had to face the problem of the debasement of the currency through the practice of shaving some of the silver off silver coins to make more coins (an easy way to make money, when you think about it). Convicted coin-clippers were publicly hung at Tyburn—offences against God were to be forgiven, but offences against capital and mammon deserved capital punishment!

Planning and control are being attacked as a denial of freedom. Free enterprise and private ownership are declared to be essentials of freedom. No society built on other foundations is said to deserve to be called free. The freedom that regulation creates is denounced as unfreedom; the justice, liberty and welfare it offers are decried as a camouflage of slavery.35 The

the following collective result. in which surplus capital and surplus labor exist side by side and there seems to be absolutely no way to put them together to do useful things.

This brings us back to Marx's method. One of the most important things to glean from a careful study of Volume I is how Marx's method works. I personally think this is just as important as the propositions he derives about how capitalism works, because once you have learned the method and become both practiced in its execution and confident in its power, then you can use it to understand almost anything.

Finance capital increasingly looked abroad for higher rates of return.

Investments in social and physical infrastructures create geographical concentrations of relative advantage to which capital is inevitably drawn. The free gifts of nature and human nature need to be produced before they can be gifted to capital.

Not only must weapons be bought and paid for out of surpluses of capital and labour, but they must also be put to use. For this is the only means that capitalism has at its disposal to achieve the level of devaluation now required. The idea is dreadful in its implications. What better reason could there be to declare that it is time for capitalism to be gone, to give way to some saner mode of production?

Volcker, Reagan, Thatcher, and Deng Xaioping all took minority arguments that had long been in circulation and made them majoritarian (though in no case without a protracted struggle).

Empiricism assumes that objects can be understood independendy of observing subjects. Truth is therefore assumed to lie in a world external to the observer whose job is to record and faithfully reflect the attributes of objects. This logical empiricism is a pragmatic version of that scientific method which goes under the name of 'logical positivism', and is founded in a particular and very strict view of language and meaning.

Volcker and Thatcher both plucked from the shadows of relative obscurity a particular doctrine that went under the name of 'neoliberalism' and transformed it into the central guiding principle of economic thought and management.

This is what the bourgeois political economists have done: they have treated value as a fact of nature, not a social construction arising out of a particular mode of production. What Marx is interested in is a revolutionary transformation of society, and that means an overthrow of the capitalist value-form, the construction of an alternative value-structure, an alternative value-system that does not have the specific character of that achieved under capitalism.

It is no longer the case, if it ever was, that capitalism can be construed as a peaceful, lawful, and non-coercive system.

Powerful corporations in alliance with an interventionist state were seen to be running the world in individually oppressive and socially unjust ways.

Marx is engaged in a critique of classical liberal political economy. He therefore finds it necessary to accept the theses of liberalism (and, by extension to our own times, neoliberalism) in order to show that the classical political economists were profoundly wrong even in their own terms.