Topic > The Enigma of Capital and the Crisis of Capitalism, by...

David Harvey is a professor at the Graduate Center of the City University of New York. He is the author of many books and articles dealing with the social issues of the modern world, his writings include; Social justice and the city, conditions of postmodernity, limits of capital and brief history of neoliberalism. In The Enigma of Capital and the Crises of Capitalism, David Harvey examines the circumstances that led to the economic collapse of 2007. He attempts to link what on the surface appear to be random market failures into a broader indictment of the entire capitalist system. It is Dr. Harvey's belief that the flow of capital is the lifeblood of capitalist societies and for the system to work there must be constant growth. . When there is not enough growth the system enters into crisis. In his opinion, the recurring crisis is one of the major problems of capitalism since perpetual growth will eventually become unsustainable and a market correction will result. These fixes rarely affect the wealthy individuals who caused the problem as they have already pocketed all available profits and moved on to their next target market. The middle and lower classes of society find themselves with the results of a system that adds wealth only to the world's elites, while burdening everyone else with enormous debts and liabilities. The economic system of the United States and the rest of the world was once based on industry and the production of goods. When the profits of these industries began to be unable to keep up with the demand for 3% annual growth, the amount that David Harvey believes is necessary to prevent the crisis, investors began to look at the margins of highest profits that the financial markets could obtain. This… in the middle of the paper… Obama says, “Change won't come if we wait for some other person or some other time. We are the ones we have been waiting for. We are the change we seek." Works Cited Harvey, D. (2010). The enigma of capital: and the crises of capitalism. Oxford [England:Oxford University Press.Kroll, L. (2014, March 3). Inside the 2014 Forbes Billionaires List: Facts and Figures.Forbes. Retrieved March 12, 2014, from http://www.forbes.com/sites/luisakroll/2014 /03/03/inside-the-2014-forbes-billionaires-list-facts-and-figures/Morrison, T. ( 2012 , February 6). 3 reasons to repeal 1913. RSS. Retrieved March 12, 2014, from http://www.greenewave.com/3-reasons-to-repeal-1913/Stark, B. (2009). Theories of poverty/The poverty of theory. Brigham Young UniversityLaw Review, 2009(2), 381-430. Retrieved from http://search.proquest.com /docview/ 194367379?accountid=33279