So I'm back with Keynes on that 1933 Yale Review citation that Daly likes: "let goods be homespun whenever reasonably and conveniently possible". Comrades, let's globalise people, not capital...
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." And Monbiot was talking about the cross-border movement of goods & services, not about portfolio investment.
Could small countries in Africa ever produce a variety of sophisticated industrial goods? Could even the Netherlands do so on its own? What level of development do you have in mind with this homespun model?
Doug
