Greenspan on Seattle (Jim O'Connor)

Doug Henwood dhenwood at panix.com
Wed Jan 26 19:12:32 PST 2000


Barbara Laurence wrote:


>Why has the capitalist world become more dependent on world trade (X/GDP
>1950 = 8 percent. X/GDP 1998=26.5 percent)?

Why use the word "dependent"? Is a leopard dependent on its spots? A century or two ago you could have asked why capitalism was so "dependent" on creating national markets. The system is voracious; it must grow in volume & scope. "Dependent" sounds like a 12-steppers way of putting this.

What was X/GDP in 1870? 1913?

Doug



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