Marv Gandall wrote: > Perhaps some do, but as a rule the currency crises and economic collapse > which precipitate these structural adjustment programs leave the local > capitalists - banks, telecoms, retailers, exporters, etc. - weighed down and > bankrupted by their soaring foreign debt. Viz. East Asia, Russia, Argentina > last time, and the East Europeans today.
right, but some locals rise to the top, like Carlos Slim. Small business almost always loses as part of the normal process of capitalist accumulation (which includes shake-ups), but there are some who benefit from new industries (Bill Gates) and some who benefit from the decadence of the pre-existing big businesses. -- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
