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Where Does Profit Come From?
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[S5.5 E06] Where Does Profit Come From?
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Professor Harvey takes us back to the very origins of Marx’s Capital by asking the questions, where does profit come from and what are the consequences of profit making? Harvey discusses how the debates between Ricardo and Malthus informed Marx’s answers to those questions. He then turns to Rosa Luxemburg’s insights into the role of imperialism’s predations on non-capitalist societies to expand accumulation. Finally, he brings the argument up to date by discussing the role of the credit system. As the internal capacity for consumerism and the imperialist capacity for consumerism become exhausted, the burden lies upon an expansion of the credit system to realize the value of ever-growing consumerism. Increasing financialization since the 1980s has created a different kind of logic to the dynamics of capital in which more and more of the onus is placed upon the growth of the credit system to keep the accumulation of capital expanding, which exposes the capitalist system to financial crises.
David Harvey's Anti-Capitalist Chronicles is co-produced by Politics in Motion. Politics In Motion is a nonprofit organization founded in May 2023 by Prof. David Harvey and Prof. Miguel Robles-Durán, along with Dr. Chris Caruso, instructional technologist, and noted writer and art curator Laura Raicovich. Our anti-capitalist media platform offers piercing insights and thought-provoking analyses on political, social, spatial, cultural, environmental and economic issues through a range of engaging mediums, including YouTube streams, podcasts, and live events.
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David Harvey's lastest book "A Companion to Marx's Grundrisse" (Verso 2023):
https://www.versobooks.com/products/2930-a-companion-to-marx-s-grundrisse
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#profit #imperialism #finance
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