Lecture 9: debt and the circulation of money

Question 1

2008

Answer 1

RBS assists 1.8 trillion

Uk GDP 1.7 trillion

Question 2

what is money

Answer 2

cant exist without humans

harvey-money is simultaneously everything and nothing- everywhere but nowhere in particular

money =power- gives people a privileged place within capitalism- access to a certain space

Question 3

harvey

Answer 3

crises of capitalism have to be understood spatially - profoundly geographical

Question 4

harvey- human frailty 1

Answer 4

the occupy protest

focused on the greed of the banking elite

Question 5

harvey-insitiutional failures 2

Answer 5

deregulation- which led to liberation of money from fixed geographies- neoliberasation

Question 6

harvey- obsessed with false theory 3

Answer 6

keynesian revolution- state- active role in capitalism efficient growth

Question 7

harvey- cultural origins 4

Answer 7

cultural features have led to it

Question 8

harvey-failure of policy 5

Answer 8

there isn’t a problem with free market capitalism

applied the wrong regulation

Question 9

External bank regulation failed

Answer 9

gov not effectively control banking sector

shadowing banking system - big short

Question 10

production and accumulation in capitalist system

Answer 10

expansion of capitalism

led to business spreading geographically - therefore spatial moments of crisis

find new markets

driven globalisation

Question 11

gains and losses from globalisation

Answer 11

geographies of:

finance
production
consumption
reproduction

Question 12

Spatial division of labour

Answer 12

gender
cultural
ethnic
national

Question 13

explaining uneven development

Answer 13

neoliberal- economists argue gov intervention- distorts the markets and maintains inequalities

keynesian- governments should intervene to correct undesirable consequences

MARXIAN- an endemic feature of capitalism