reason Bitcoin PoW system doesn't need any such thing, is because incentives in it are setup correctly and are distributed fairly. Bitcoin PoW is not Austrian/Capitalist system.
What Craig doesn't understand (& I think most others) is that keynesian economics is needed in pure capitalism as its not sustainable, because incentives are not distributed fairly.
If he ever read Hazlitt he would know that speculation plays an important part in the market.
