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There are economies that are substantially following the Keynes 'euthanasia of the rentier' disideratum. Most of them are BRICS, where government controled public banking is predominant and there is cheap credit for needed infrastructure and industry. This, of course, is anathema to western oligarchies and their minions such as the IMF and the World Bank. It is not just the different stages of development that is responsible for the differing growth rates between the BRICS and the 'developed world'.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Tue Nov 4th, 2014 at 09:29:13 AM EST
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... Or perhaps it is. When the "mature" economies were "developing", they too had government-led infrastructure investment.

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II
by eurogreen on Tue Nov 4th, 2014 at 09:59:09 AM EST
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For values of 'development' equal to 'maximized looting potential'?

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Tue Nov 4th, 2014 at 02:44:00 PM EST
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That would be a predatory layer of the global economic ecosystem - if only the pray were allowed to run faster.
by das monde on Tue Nov 4th, 2014 at 06:58:21 PM EST
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The actual emergence of "developing" countries such as China and Brazil clears up one thing I was unsure about : whether profits from colonialism was a necessary step for a country to become "developed".

The lesson I get is that there are many paths to development, but they all require intelligent government to stimulate capital flows.

It is rightly acknowledged that people of faith have no monopoly of virtue - Queen Elizabeth II

by eurogreen on Wed Nov 5th, 2014 at 04:02:50 AM EST
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Do you mean to imply that China and Brazil are not developing off the spoils of colonial plunder?

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Nov 5th, 2014 at 08:45:57 PM EST
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... You can't call it colonialism without force. That's just diluting the language. Words have meaning, and just because someone is doing something you don't like, you don't get to tag it with any random label picked out of the bin of evils.
by Thomas on Wed Nov 5th, 2014 at 10:36:38 PM EST
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You mean to imply that there is no force involved in China's acquisition of raw materials from the American colonies?

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Thu Nov 6th, 2014 at 12:24:36 PM EST
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Russia, China are just adopting the force of Western rules, precedents. See Kosovo and Crimea, for example.
by das monde on Thu Nov 6th, 2014 at 06:32:33 PM EST
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If we describe the relationship of Brazil with amazonia and China with Tibet, inner Mongolia and Turkestan as colonial.

And there can be much said for that description.

Also: russia and siberia and how the west was won.  

by IM on Fri Nov 7th, 2014 at 04:01:53 AM EST
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