Here is 11 minutes and 11 seconds of animated articulation (for the subscribers, here’s the youtube link: “RSA Animate – Crises of Capitalism“).
It’s based on David Harvey’s book, “The Enigma of Capital“.
If you’re looking for a summary of the essential crisis, my understanding is:
- Capitalism is all about the investment of capital in productive assets
- Assets are only productive because they produce things that people will consume
- But the wage-earners that would consume stuff are earning less money
- Because the holders of capital are interested in maximising their profits, not in maximising their workers’ wages
- And therein lies the internal crisis.
But that’s not a very good summary. Rather take the 11 minutes and 11 seconds and watch the animation.