“There is, in short, no 'spatial fix' that can contain the contradictions of capitalism in the long run.”
Source: The Limits To Capital (2006 VERSO Edition), Chapter 13, Crisis In The Space Economy Of Capitalism, p. 442
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David Harvey 37
British anthropologist 1935Related quotes
“No fixed capital can yield any revenue but by means of a circulating capital.”
Adam Smith
(1723–1790) Scottish moral philosopher and political economist
Source: (1776), Book II, Chapter I, p. 311.
Benjamin Graham
(1894–1976) American investor
Quoted and attributed to Graham in Warren Buffett's 1993 letter to investors. https://www.berkshirehathaway.com/letters/1993.html
The statement is not found in any of Graham's publications or lecture transcripts, and when asked, Buffett could not provide a reference. https://www.bogleheads.org/forum/viewtopic.php?t=77840
Disputed
David Harvey
(1935) British anthropologist
Source: The Limits To Capital (2006 VERSO Edition), Chapter 8, Fixed capital, p. 221
Source: A People's History of the United States
Karl Marx
(1818–1883) German philosopher, economist, sociologist, journalist and revolutionary socialist
Vol. II, Ch. VIII, p. 163.
(Buch II) (1893)
“"Rationalism" is a historical concept that contains within itself a world of contradictions.”
Source: The Protestant Ethic and the Spirit of Capitalism (1905; 1920), Ch. 2 : The "Spirit" of Capitalism
Karl Marx
book
Grundrisse
Notebook VII, The Chapter on Capital, pp. 628–629.
Grundrisse (1857/58)
Context: The development of fixed capital indicates in still another respect the degree of development of wealth generally, or of capital…
The creation of a large quantity of disposable time apart from necessary labour time for society generally and each of its members (i. e. room for the development of the individuals’ full productive forces, hence those of society also), this creation of not-labour time appears in the stage of capital, as of all earlier ones, as not-labour time, free time, for a few. What capital adds is that it increases the surplus labour time of the mass by all the means of art and science, because its wealth consists directly in the appropriation of surplus labour time; since value directly its purpose, not use value. It is thus, despite itself, instrumental in creating the means of social disposable time, in order to reduce labour time for the whole society to a diminishing minimum, and thus to free everyone’s time for their own development. But its tendency always, on the one side, to create disposable time, on the other, to convert it into surplus labour...
The mass of workers must themselves appropriate their own surplus labour. Once they have done so – and disposable time thereby ceases to have an antithetical existence – then, on one side, necessary labour time will be measured by the needs of the social individual, and, on the other, the development of the power of social production will grow so rapidly that, even though production is now calculated for the wealth of all, disposable time will grow for all. For real wealth is the developed productive power of all individuals. The measure of wealth is then not any longer, in any way, labour time, but rather disposable time. Labour time as the measure of value posits wealth itself as founded on poverty, and disposable time as existing in and because of the antithesis to surplus labour time; or, the positing of an individual’s entire time as labour time, and his degradation therefore to mere worker, subsumption under labour. The most developed machinery thus forces the worker to work longer than the savage does, or than he himself did with the simplest, crudest tools.