Saturday, April 9, 2011

Do Economists Understand Capitalism at All ?

or History ?

One wonders.

Economics does not exist outside of power and outside of politics.

So we are supposed to believe that the emergence of China is a 'win-win' , just as the emergence of Germany was a 'win-win' for the British and French ruling class.


Power is finite, it is not a pie that expands. And power struggles between ruling class factions and nation states are essential features of capitalism, organic outgrowths of a system based upon a competitive struggle for markets.

Only a fool cannot see what is coming; there will be a winner and there will be a loser.

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