----- Original Message ----- From: "Doug Henwood" <[EMAIL PROTECTED]> > You're doing the same thing that the IMF-Treasury-Wall Street complex > does - equate trade with capital flows. Keynes said "goods," which > you elide into "capital."
Doug, come on, you know the rest of the quote: "Above all, let finance be primarily national." > And Monbiot was talking about the > cross-border movement of goods & services, not about portfolio > investment. So? He is mistaken, quite simply. Just like Bhagwati. > Could small countries in Africa ever produce a variety of > sophisticated industrial goods? Well, we've been through the colonial-era Zimbabwe story, which was impressive notwithstanding the self-defeating racism. But sure, it's very hard to do autarchy. That's why advocates of delinking like Amin and Bello specify that they are not for 100% autarchy. They promote delinking from the most destructive circuitry of capital, namely pure export-led growth based upon primary commodities, and debt repayment. Join 'em, Doug?
