Re: [Marxism] Krugman on the British Empire

[sabocat59@xxxxxxx]

Paul Krugman wrote:

Yet the day after his new-reserve-currency speech, Mr. Zhou gave another speech 
in which he seemed to assert that China's extremely high savings rate is 
immutable, a result of Confucianism, which values "anti-extravagance." 
Meanwhile, "it is not the right time" for the United States to save more. In 
other words, let's go on as we were.That's also not going to happen

-------------------------------------

As an aside, Zhou and perhaps the party leadership seems to have fallen for a 
neo-weberian explanation of the chinese savings rate, the only difference being 
they have confucious to thank rather than calvin. Seems  the only difference 
between them and Weber is the content of the particular national culture of 
frugality. 

Interesting. 


Greg
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