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January 23, 2005
The ABCs of Political Economy
Finished Robin Hahnel's book on The ABCs of Political Economy. Hahnel wrote it for lazy people like me. Although I don't have the energy to take on the masters alone, I do have the energy to read an introductory economics text with a sprinkling of algebra used to demonstrate the concepts through simple models. Hahnel takes us through teachings by theorists from Smith to Marx to Keynes to Friedman, seen from the point of view of an economist looking for the system that best fits what he finds when he answers his fundamental question, posed as the title of Chapter 2, "What Should We Demand from Our Economy?"
Be aware Hahnel is an activist writing for activists, not a mainstreamer. He has collaborated with Michael Albert writing on Participatory Economics. Parecon: Life After Capitalism is a full book on that topic, and appears to be posted in its entirety if you can stand to read a whole book through your browser. I read an introductory text, Looking Forward, and found it thought provoking.
Hahnel's book makes a convincing case against the existing economic order. Hahnel also holds out parecon as an elegant economic solution to many of the problems he points out in the way we do it today. He doesn't try to persuade the reader that implementing parecon would be a cakewalk, however, although he offers some arguments for short term political adjustments. He does leave this reader wondering how we can get closer to Participatory Economics without a magic wand to change everything at once.
For that Albert and Hahnel wrote Chapter 11 of Looking Forward. It's an overview or a blueprint rather than a guide or a manual. As those guys would probably tell you themselves, you aren't going to get to a deeply democratic system of egalitarian participation by decree, nor though the force of a great leader.
Posted by Mark at January 23, 2005 03:29 PM