Commentary on Political Economy

Thursday, 7 April 2022

This is the bit from the Le Monde article that Western capitalist elites have applied also to China...and in the process they have enriched and empowered the most dangerous nefarious genocidal dictatorship the world has ever known!

"This theory, long supported by business circles, defends the idea that trade with non-democratic countries contributes positively to change."I'm'm writing a piece showing why this argument DOES NOT HOLD WATER... because capitalism, industrial and financial, simply does not 'work' like that!

Will forward it if and when I finish it.

In a nutshell, the thesis is that the entire purpose and aim of capitalist foreign investment is PRECISELY to take advantage of dictatorial regimes that can reduce foreign labor costs through 'outsourcing' and lower domestic nominal wages through deflationary imports from those dictatorships! - Which explains "the Great Moderation" from 1980 until 2008...

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