Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Thanks for clarifying that.  I've been arguing for over a quarter-century now (The years creep up on you.) that treating labor as if it were as mobile as capital (such as Raygun's "Vote with your feet" remark) was a scam to impoverish everyone outside the capital class.  Free flow of capital was instituted anyway, and now the system is addicted to it.  What I'm saying here is that the international capital spigot will get choked off, it will be choked off for protectionist reasons, and it will have protectionist effects.  Consequently, if it waddles like a duck....
by rifek on Tue Jan 13th, 2009 at 08:13:15 AM EST
[ Parent ]
You'll find little disagreement here on those thing you have been arguing for a quarter century...

Most economists teach a theoretical framework that has been shown to be fundamentally useless. -- James K. Galbraith
by Carrie (migeru at eurotrib dot com) on Tue Jan 13th, 2009 at 10:27:03 AM EST
[ Parent ]
... will undermine the strength of transnational corporations, yes.

If by protectionist effects, you mean it will eliminate opportunities to trade in finished goods and services, I don't see how that follows.

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Tue Jan 13th, 2009 at 12:19:17 PM EST
[ Parent ]


Top Diaries

Occasional Series