Technology has undoubtedly changed how the economy operates, from the steam engine to the smartphone. But are machines a legitimate source of value in a capitalist society? In the following excerpt from Marx, Capital, and the Madness of Economic Reason, David Harvey delves into Marx’s Capital to better understand the value of man and machinery in a technology-dependent world.
Money. The root of all evil. It can’t buy you love, but it makes the world go round. Few people understood the vast complexities of currency better than Karl Marx. His book Capital, is seen by many as the authoritative theoretical text on economy, politics, and materialist philosophy. Its vast critiques have fostered new studies on capitalist practices relating to what exactly is ‘value’, many of which are still referenced today by countless economic experts.