To dissolve, submerge, and cause to disappear the political or governmental system in the economic system by reducing, simplifying, decentralizing and suppressing, one after another, all the wheels of this great machine, which is called the Government or the State. --Proudhon, General Idea of the Revolution
Is it possible to say that your Acumulation Crisis theory (as in Studies in Mutualist Political Economy)is compatible with the austrian Theory of Economic Cycle?
It seems to me pretty logical that in times where welfare and public spending are used to fight the lack of demand, the inflationist expantion of credit (as in Austrian's Cycle Theory)is another measure that helps creating the consequent Under-Acumulation Crisis
PS: I loled at Roderick Long's comment on this interview: Here's the proof that Kevin Carson and Walter Block are the same person :D
Mr. Spooner: My theory of overaccumulation -- basically a grab bag of J.A. Hobson and the Monthly Review group -- overlaps somewhat with ABCT. But it differs from the Austrian theory in that it posits general excess productive capacity, rather than simply malinvestment.
Cody: I'll probably be doing more radio interviews.
As a matter of fact, the original interview was two minutes. The leadup to the clip was a question about how spending on wars and the military had damaged the U.S. economy, and I was responding that given the pathological way the economy was structured, military spending helped prevent collapse by increasing deficit spending and using up surplus industrial capacity.
Afterward, I was asked to comment on what I'd written about bureaucratic irrationality, and I said some Wilsonesque stuff about information flow in hierarchies and the parallels between the military and corporate accounting systems.
Good interview, Kevin.
ReplyDeleteWhile the photo of Walter Block is pretty funny, it would have been even better if they had identified you with a photo of George Reisman.
The picture is changed.
ReplyDeleteLooks more like Roderick Long now!
Non related question (again):
ReplyDeleteIs it possible to say that your Acumulation Crisis theory (as in Studies in Mutualist Political Economy)is compatible with the austrian Theory of Economic Cycle?
It seems to me pretty logical that in times where welfare and public spending are used to fight the lack of demand, the inflationist expantion of credit (as in Austrian's Cycle Theory)is another measure that helps creating the consequent Under-Acumulation Crisis
PS: I loled at Roderick Long's comment on this interview: Here's the proof that Kevin Carson and Walter Block are the same person :D
Are you going to start doing more radio/television interviews, Kevin?
ReplyDeleteMr. Spooner: My theory of overaccumulation -- basically a grab bag of J.A. Hobson and the Monthly Review group -- overlaps somewhat with ABCT. But it differs from the Austrian theory in that it posits general excess productive capacity, rather than simply malinvestment.
ReplyDeleteCody: I'll probably be doing more radio interviews.
I think it's pretty funny that they used Walter Block's photo for the interview. Wonderful act of trolling on their part. Block must have been pissed.
ReplyDeleteGood interview. It's nice to hear your voice for a change. Keep us updated on your future interviews.
PS. I might Email you a bit later about questions I have on alternative currencies.
Thanks, Julia.
ReplyDeleteit sounds to me like only a segment of an interview..
ReplyDeleteWas there anything interesting that got cut out?
As a matter of fact, the original interview was two minutes. The leadup to the clip was a question about how spending on wars and the military had damaged the U.S. economy, and I was responding that given the pathological way the economy was structured, military spending helped prevent collapse by increasing deficit spending and using up surplus industrial capacity.
ReplyDeleteAfterward, I was asked to comment on what I'd written about bureaucratic irrationality, and I said some Wilsonesque stuff about information flow in hierarchies and the parallels between the military and corporate accounting systems.