Re: RE: Re: RE: Profit Rates -- From Michael Yates

[Louis Proyect <lnp3@xxxxxxxxx>]

On Fri, 19 Apr 2002 10:48:16 +0100, Davies, Daniel wrote:
>I take your point here (that is, if I understand
>you correctly as saying that we' re talking
>about imperialism rather than poverty per se
>here).  But would you have said the same thing
>about Spain twenty years ago?

No. Spain had a rather powerful economy that developed under Franco's
protectionist brand of fascism in the 1950s, with auto manufacturing,
etc.

>But this indicator is also unreliable over time;
>it has certainly flipped in Ireland which is now
>full of Italian fund managers.

I have no idea what Italian fund managers in Ireland have to do with
my point. It is not working overseas that I am calling attention to,
but the need to leave one's country in order to survive. This is a
south to north, periphery to core dynamic.

--
Louis Proyect, lnp3@xxxxxxxxx on 04/19/2002

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