- Capitalism and Alternatives -

Dept. 1

In Reply to: global notes posted by bill on October 20, 1999 at 14:01:39:

: But I'm not convinced of this desire to to industrialize the undeveloped nations if that would result in developing the undeveloped nations. The transfer of wealth and accumulation of capital requires inequity. The greater the inequity (low labor costs), the greater the wealth transfer. It is in the interest of capital to maintain a level of "under development".

Yes, national inequalities are a significant factor in global profits. However, most profits are made by Dept. 1, which means capitalists have no choice but to export industry (and development). However, there is always a gap between technologies (Marx called the period of fixed capital ten years) to exploit. Dept. 1 in, say, America will always be forced to stay ahead of the new Dept. 1's it exports. That, after all, is the capitalist game.

Follow Ups:

None.