They make no attempt to provide empirical support for their argument. It's best read as another ideological talking point for cutting government spending - in this case, the spectre of a looming global capital shortage which will drive interest rates to a level where debt repayment is unsustainable and economic activity nosedives.
On 2011-02-06, at 6:36 PM, Paul Cockshott wrote: > Nonsensical given that China is already a capital exporter > > --- original message --- > From: "Eugene Coyle" <[email protected]> > Subject: Re: [Pen-l] Goodbye to the export of surplus capital? > Date: 6th February 2011 > Time: 10:19:50 pm > > > No, it is nonsensical. > > Gene Coyle > > > On Feb 6, 2011, at 10:55 AM, michael perelman wrote: > >> Does this make sense? The surplus is invested to create more surplus >> [assuming it is invested productively; the article does not suggested >> that the surplus is used for speculation]. As the degree of >> exploitation increases, still more surplus should appear. David >> Harvey insists that the problem is finding an outlet for the surplus. >> >> >> On Sun, Feb 6, 2011 at 7:23 AM, Marv Gandall <[email protected]> wrote: >> Now, argue economists Michael Spence and Richard Dobbs, that surplus >> is rapidly disappearing as accelerating demand from China and other >> emerging economic powers begins to outstrip the global supply of >> capital. >> -- >> Michael Perelman >> Economics Department >> California State University >> Chico, CA >> 95929 >> >> 530 898 5321 >> fax 530 898 5901 >> http://michaelperelman.wordpress.com >> _______________________________________________ >> pen-l mailing list >> [email protected] >> https://lists.csuchico.edu/mailman/listinfo/pen-l > > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l > > The University of Glasgow, charity number SC004401 > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
