Joseph Stiglitz and Jeff Madrick @ #occupywallstreet Open Economic Forum

TRANSCRIPT (Thanks arcas!)

(the character limit on this box prevented the full transcript... it is in the comments below if you need it.)

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[Jim-Bob Harold]

hey Anonymous... if you're out there.... could you maybe embed this video on fox news' front page? that would be great, thanks.

[dudiusmaximus]

speaker: "Questions?"

crowd: "QUESTIONS?!"

love

[TheSweden1989]

Penn Badgley )

[john kendall]

@Madputz To maintain the fallacy of a future within atagonistic capitalist relations is to play Russian roulette, and this is the objective treachery of people like Stiglitz.They are the Pied Piper holding you to a dead end road .The problem with eclecticism is that it is sceptical of the existence of laws governing society as they do in nature.So it has only appearances to cling to on the basis that what 'is' today will be the same tomorrow and on and on ,despite the experience that it is not .

[john kendall]

We don't agree ;-), because with respect your stance is eclectic . We are in a period of wars and revolutions and' the new' is being given birth to precisely ' because ' the insoluble contradictions have matured to breaking point .There is no return to fiscal solvency and as we speak Nations are 'tooling up' .We do not live in a vacuum and the forces of reaction are assembling , as are the forces of revolution .

[MadPutz]

I agree with you - Stiglitz is a form of capitalist economist. However, to even talk about the current problems and achieve short-term gains you have to adopt the system's standard. Austrian and Marxist propositions are discarded not because they lack logic or widespread romantic support (they have both in abundance), they are discarded because of incompatibility with the system-dependent issues that most (including OWS) care about. Outright revolution is not a priority for most.

[john kendall]

@Madputz They take Marx and turn him on his head back to Hegel . The Stalinist apologist Hobsbawm does this in pretty every phrase he utters . Revisionism as it is commonly called guts Marx of his real content . Every expression of thought reveals its internal logic . Hence the reason why I said what I said of Stiglitz .Strip his sentences back to their a priori assumptions and you end up with a reformist , not a revolutionary .