Capitalist support for fascism....

[Michael Perelman]

Rebuilding an economy is much easier than to construct it from the start.  Germany
in 1917 was a legitimate world power.  Rebuilding on the basis of the existing
infrastructure -- just as Germany and Japan did after WW II -- was not as
difficult as constructing an economy from scratch.

With the dismantling of the USSR, Russian can no longer turn to the old Soviet
infrastructure.

Present day Korea comes closest to an economy that could rebuild, although it may
be seen as an extension of Japan to some extent, however, I don't think that any
country has ever had to rebuild again in the face of the difficulties created by
the modern capital market.

I know that capital was highly internationalized prior to WW I, but I do not think
that it was nearly liquid as capital today.
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu