political economy Flashcards
(17 cards)
does everyone have a choice to limit risk in the same way?
no - some people are living near a toxic waste/dumpsite, and/or have a history of racism/poverty
means of production?
infrastructure, equipment, technology, division of labor
conditions of production?
material/environmental conditions for an economy to function (e.g. natural resources)
social relations of production?
workers/owners, who own the means of production, who benefits and how?
- Primitive accumulation
- Accumulation through dispossession
commodity
useful object, substance of wealth
use-value
based on consumption rather than production
exchange-value
the value given to a commodity so that one can equal another; the sum of nature plus labor
surplus-value
value produced by underpaying labor and/or over-extracting resources
what are the accumulation steps?
- innovating new products - squeeze surplus
- speed up buying & selling
- cutting value back to laborers (wages) & the environment
- over accumulation - a few make the system less stable
why do crises happen?
when people don’t get paid enough - strike, riots
what is the first crisis?
economic conditions undermine the existence of capitalism - but are part of the system. overproduction of commodities - reduction of wages (can’t buy products)
first contradiction of capitalism?
the tendency for capitalism to undermine the economic conditions of its own perpetuation, through overproduction of commodities, reduction of wages for would-be consumers, etc.
what is the spatial fix? (overcoming the first contradiction)
the tendency of capitalism to temporarily solve its inevitable periodic crises by establishing new markets, new resources, and new sites of production in other places - David Harvey
second contradiction of capitalism?
undermine environment conditions of survival - degradation of natural resources - damaging health of workers. Scarcity is produced by extracting nature for production (or somehow making it unavailable for those who need them) - manipulation of those who have access to resources.
implications of capitalism?
capitalism’s internal vulnerability to crises - can something this volatile reflect environment values (critique to market approach). spatial fix & capitalism’s expansionary tendencies (globalization). uneven development.
political economy approach to climate change
climate change is part of the crisis of capitalism - cannot be addressed without addressing structural factors.
climate injustice is the result of uneven development - natural manifestation of capitalism.
P.E. critiques green consumerism.
P.E. criticizes carbon markets/trading
P.E. focus on structural drivers rather than market solution, argues for regulation.
where do profits come from?
market response model - ingenuity, technological innovation
political economy - exploitation of labor and the earth
