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Excellent run-through of the history of political economy. Brings to light a lot of surprising quotes from Engles, Marx, Schumpeter, Ricardo, Smith, Mises, Rothbard, etc. Thats another thing. This book is largely composed of quotations. The consequence was that when Carson quoted people I already knew, it gave me a reference point from which to understand Mutualism, and when he quotes people I was unfamiliar with I wanted to go read their books to get the full story. The number of quotes can be overwhelming, but it does serve Carsons See guys, what Im saying really isnt far from what you probably already believe strategy very well.As for his LTV theory, Ive got to mull it over a bit, but it seems to be at least mainly correct. First off, its not really an LTV in the way I was familiar with. Carson acknowledges off the bat that what is socially necessary labor is determined through subjective(!) means. He also immediately acknowledges that his LTV will say nothing about the price or value of rare goods and/or non-reproducible goods, land, and a few others. He also acknowledges that not all labor hours have the same value. These are huge concessions, and the fact that they are roundly ignored by Walter Block in his criticism of MPE is saddening (did Block even read the thing?). He also gives some pertinent quotes which seem to indicate that the versions of the LTV which Ricardo, and Smith believed also gave similar concessions. Which would seem to indicate that many of the classic refutations of the LTV like the mud pie argument are basically strawmen. Anyway he gives a good case for the position that on a free market price generally trends towards cost. If price dips below cost, production will cease. If price jumps far above cost, it incentives other firms to enter that industry and compete away the profits. True, no?After the first couple chapters it gets a lot less technical. Thats when he starts trying to explain the entire state-capitalist structure of production. Im not really content with this explanation. It makes superficial sense, but he provides insufficient evidence for some specific claims. For example: WalMart and transportation subsidies. He claims that WalMart benefits disproportionately from a state funded transportation infrastructure and that without the state WalMart would collapse in competition against Mom and Pop for this reason alone. But doesnt Mom and Pop benefit from the transportation infrastructure as well? Couldnt a large firm like WalMart get bulk-priced transportation rates on a free market? Where does the data supporting this claim come from, and how can such lofty extrapolations be made from it? He also missed out on incorporating the Austrian business cycle into his explanation. That said, in general the system he describes meshes very closely with my understanding. Additionally, he incorporates a lot of Leftist analysis of how the statist economic system works into his analysis in a much more comprehensible manner than Ive heard from prior leftists. But some of the specific definitive claims he makes about how things are compared to how they would be under free market conditions seem rather shaky.His strategy section was pretty good, but not a subject Im very interested in. The old idea of building a new society in the shell of the old one. He was a bit too comfortable with the idea of nationalization for my tastes though. However, he was very tolerant of the idea of panarchy even if some of the decentralized governance areas which it produced were theocratic, racialist, or otherwise non-state authoritarian. I found this very realistic especially coming from someone I assumed was a thick libertarian.Theres a lot more I could say, but Ive already said too much and I dont care if anyone enjoys this but me =)Overall, a very fun read. Insightful, lucid, and generally accurate as far as I can tell. If you do read it, make note of the caveats. The claims which Carson makes are a lot less radical (compared to reglar anarchic libertarianism) than many people seem to think they are.

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