Political Economy

A Companion to Marx's Capital by David Harvey

By David Harvey

"My objective is to get you to learn a ebook by way of Karl Marx referred to as Capital, quantity 1, and to learn it on Marx's personal terms..."

The greatest monetary trouble because the nice melancholy has generated a surge of curiosity in Marx's paintings within the attempt to appreciate the origins of our present concern. for almost 40 years, David Harvey has written and lectured on Capital, turning into one of many world's such a lot most desirable Marx scholars.

Based on his contemporary lectures, this present quantity goals to deliver this intensity of studying to a broader viewers, guiding first-time readers via a desirable and deeply profitable textual content. A spouse to Marx's Capital deals clean, unique and occasionally severe interpretations of a booklet that modified the process historical past and, as Harvey intimates, may perhaps accomplish that again.


“Harvey is a scholarly radical; his writing is freed from journalistic clichés, jam-packed with evidence and punctiliously thought-through ideas.”—Richard Sennett

“Without a doubt one of many top partners to Marx’s [Capital].”—Joshua Clover, Nation

“No brief evaluation can do justice to this remarkable publication ... Essential.”—Michael Perelman, Choice

“A helpful guide.”—Aaron Hess, SocialistWorker.org

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In such circumstances, the western partner is likely to take a more lasting interest in the efficiency and quality of the production and to be willing to keep the flow of technology up-to-date. To be sure, similar incentives would exist if there were a comparable return in the form 29 of profits (whatever they are called), but that is rare. All this has been apparent for some time (10). It is precisely the paucity of activities of this sort, or their secondary importance even in total, that is one of the reasons why East-West economic relations have not been more significant to western industrial policies (11).

Matters are further complicated if one introduces the possibility that ex ante reasoning should prove incorrect - hardly a novel thought. In any case, there seems little reason to doubt the widely held view that for several west European countries the prospects of supplying pipes, pumps and other equipment over a period of years increased the attraction of the energy connection with the East. Closer 27 study than was possible for this paper would be needed to draw more precise conclusions. One interesting case, no doubt exceptional, suggests that orders for the Soviet pipeline aided a programme of adaptation in the Austrian steel industry.

One can sympathise with Stoleru's wish for a more orderly arrangement, but that "collection of interventions' provided a fairly standard picture of most national industrial policies. Japan has been the great exception with a sustained industrial policy in which a general, long-run objective was pursued through a series of sectoral changes. The basic situation helped: the objective was easy to discern and agree on - modernisation. Modernisation meant introducing into Japan new industries characteristic of a modern industrial power and modernising the existing, substantial industrial base.

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