The Crisis in Economic Theory

1980-3
Michael Harrington (podium) at the 1980 Thomas – Debs Dinner in Chicago. Seated to his right is that year’s honoree, Rosemary Ruether. Seated to his left are Rev. Jim Gorman and Crystal Lee Sutton. Photo by Syd Harris.

This is another of the cassette tapes from the Democratic Socialists of America (DSA) national office. While I found the content interesting, it also had some mild historical interest, being a presentation by Michael Harrington to a gathering of the Democratic Socialist Organizing Committee (DSOC) sometime in the first two-thirds of 1980. I’d guess August. DSOC was one of the predecessor to DSA, the other being the New American Movement.

The quality of the recording is adequate, especially as it may have been done from the audience. It is missing the first minute of the program, and there is another more irritating section of really dead air about two-thirds in. I don’t know who the person recording this was and any specific venue would be but a guess.

I found the presentation interesting in two ways. One is that apparently Keynesian economic policy has not always worked as advertised. Harrington nominates business cycles as a possible explanation. Maybe, though I don’t find that idea particularly exciting. An institutional or even academic memory of this misfire of Keynesianism of a sort, however, is of interest. IMHO. The other thing is: what a topic to present to an organizational meeting of a political group. That leaves a bit, good and bad, to unpack.

(Length — 56:41)

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