Visualizing Capital

David Harvey
School of Geography and the Environment, 2017
Level: mittel
Perspektiven: Institutionenökonomik, Marxistische Politische Ökonomik
Thema: Kapitalismuskritik, Institutionen, Regierungen & Politik, Makroökonomik, Mikroökonomie & Märkte, Reflexion der Ökonomik
Format: Vortrag / Vorlesung
Dauer: 01:06:29
Link: https://www.youtube.com/watch?v=83Yx6RBvoFc

Professor David Harvey suggests and presents a complete visual representation of the flow of capital in all its forms. This is similar to the Water Cycle diagrams present in many secondary education textbooks around the world. Harvey models the economics of production, consumption, human reproduction, labor, private business, and government redistribution.

Comment from our editors:

Harvey begins this lecture by talking about his annoyance with gross misrepresantions of what Marx had to say - not just by the right, but also by the left and by some marxists. He then adds that most commentators are trying to make Marx more complex than he is. The project he presents in this lecture therefore aims to create a simple but not simplistic representation of Marx' capital notion and theory of labour. Harvey does this by visualizing capital in a way that is inspired by the hydrologic cycle in geography.

The result is a dense graphic model that incorporates the process of capital ergo the movement of value. The model is very helpful to get an overview of Marx' notion of capital and the relations it creates within all the basic macroeconomic processes. Harveys model and this lecture are for this reason a great introduction to a marxist perspective on (macro-)economics: He is sucessful in providing an accessible yet comprehensive visual model of capital, that at the same time illustrates the core concepts of marxist political economy in their interconnectivity. The model can also be useful for anyone, who has already dived into marxist theory and is looking to bring a clearer analytical structure into their own thinking, a theorical framework of Marx' notion of capital and/or a grafic approach to the complex issue of representing real abstractions such as capital.

Go to: Visualizing Capital

This material has been suggested and edited by:

Vladimir Belev
Tags: abstraction | capital | consumption | distribution | effective demand | Marxism | marxist | methodology
The background for the present elaboration is twofold: firstly, the ongoing debate about whether the Marxian theory of value has been damaged (or even destroyed) by the alleged impossibility of solving the ‘transformation problem’ and secondly, the fact that almost all of the (later) economic manuscripts of Marx are now …
2020
Level: mittel
A value-theoretic approach to economic dynamics and evolution—synthesizing different Marxian modules in a simulation model
Frank Beckenbach
Review of Evolutionary Political Economy
Im Zuge der Herausbildung der Finanzmärkte und unter dem Eindruck der Finanzkrise ist unter dem Label „Performativität der Ökonomik“ ein weiterer Diskussionsstrang entstanden:
2018
Level: mittel
Performativität in der Marktökonomie. Worum sorgen sich Ökonom*innen?
PD Dr. Katrin Hirte
Plurale Ökonomik Jena
Walter Ötsch stellt die Ergebnisse einer Netzwerkanalyse eines Datensatzes zu Deutschen ordoliberalen Ökonomen in der Nachkriegszeit vor. Um die Daten zu interpretieren, verwendet er die Netzwerktheorie von Bruno Latour und kontextualisiert die Verbindungen der Personen im Netzwerk mit historischen Daten. Die Interpretation der Daten legt nahe, dass schon vor dem Zweiten Weltkrieg, aber insbesondere danach, Ordoliberale enge Verbindungen mit politischen und unternehmerischen Akteuren sowie Akademikern der Neoklassischen und Österreichischen Tradition hatte. Diese Netzwerke hatten auch eine internationale Dimension. Laut Ötsch hielt diese Netzwerke der gemeinsame Gegenpol zur Keynesianischen Theorie zusammen sowie ihre binäre Interpretation des Markt-Staat Verhältnisses.
2015
Level: leicht
Marktradikalismus als politische Ökonomie - Das Beispiel der Ordoliberalen
Walter Ötsch
Netzwerk Plurale Ökonomik
Ernest Mandel, a heterodox Marxist economist, shows here how a political economist can analyse systems such as the Soviet Union.
1968
Level: mittel
The Nature and Economy of the Soviet Union
Ernest Mandel
YouTube
Jens Beckert and Richard Bronk, authors of "Uncertain Times", explore the extent to which flaws, blind spots and more importantly bias created by macroeconomics models, based on forecasts and statistical devices, shape crisis and the market economy in which we live.
2018
Level: leicht
Economics for Uncertain Times
RSA Events, Jens Beckert and Richard Bronk
RSA Events
Since Daniel Kahneman won the Nobel Memorial Price in Economic Sciences in 2002, a new branch of economics gained academic and popular interest. That is, the so-called area of behavioural economics. However, some scholars claim that this new area of economics is not changing much of the mainstream paradigm. Why?
2019
Level: mittel
Is Behavioural Economics the New Mainstream?
Leonardo Conte
Rethinking Economics Switzerland

Spenden

Um sich weiterhin für Pluralismus und Vielfalt in der Ökonomik einzusetzen, benötigt das Netzwerk Plurale Ökonomik e.V. Unterstützung von Leuten wie dir. Deshalb freuen wir uns sehr über eine einmalige oder dauerhafte Spende.

Spenden