The recent financial crisis has affected just about everyone, and the question of why it arose in the first place is one that comes naturally to mind. Answers, of course, abound, and most of them do have some merit, but there is something which most schools of thought tacitly agree on and presuppose: capitalism is an engine for progress, economic and social.One of the greatest philosophers to question and challenge that presupposition was Karl Marx. And while he did recognize the capitalistic drive toward improved efficiency, he also understood the logical structure of capitalism better than just about anyone ever has, elucidating in the process both why it is so successful and why it cannot succeed indefinitely.
In the following fascinating animated lecture from the RSA, Professor David Harvey provides a quick and penetrating Marxist analysis of the way in which capitalism seems to solve many of the problems it creates, revealing in the process both its genius and its dark side.
If you want to get the full lecture, you can watch it below:
Check out other eye-catching animated lectures from the RSA, or sing along to the Hayek vs. Keynes rap.
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