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Michael Harrington on
the Crisis in Economic Theory

Michael Harrington deals here with the death of both classical and Keynesian economic theory that left a crisis in both bourgeois and socialist economics. In the course of this talk, he pretty much correctly outlines most of the issues in political economy for the 1980s: not bad as this was on June 16, 1980, prior to Reagan's election to the Presidency. Essentially, one gets a glimpse not only of what happened but a number of might - have - beens as well. As Harrington talks about the circumstances that made both right wing and left wing Keynesian economic policy unworkable, this talk is of more than historical interest.

The venue for the speech is not entirely clear. Harrington was talking to a gathering of the Democratic Socialist Organizing Committee (one of the predecessor organizations to the Democratic Socialists of America); however, there is no indication of where or what the occasion was.

 

The sound quality of this recording is pretty good, the main problem being Harrington's habit of wandering away from the podium and thus the microphone. There are also two very brief gaps in the recording, one at the very beginning and another about two-thirds toward the end. Not recommended for those using a dialup connection as this mp3 format file will take over 3 hours, at best, to download at dialup speeds; it's a big file. 56:42 minutes; 68 megabytes; click here to download or use the player below.

 

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