Defining Capitalism

[Brad DeLong]

>The large company is also more likely to outsource its jobs abroad, so the
>benefits are not clearcut.
>
>On Tue, Jul 03, 2001 at 03:51:02PM -0400, Doug Henwood wrote:
>>  Max Sawicky wrote:
>>
>>  >In principle profit *levels* would seem to be meaningless.
>>  >Other things equal, I'd rather own a small company making
>>  >10% than an equivalent piece of a large company making 5%.
>>
>>  Why? The large company is more likely to pay better, offer health
>>  insurance, pollute less, and provide a less risky workplace.
>>
>  > Doug

*Sigh*. In the long run trade (plus capital flows) balance. If one 
company buys stuff from people abroad, another company must sell 
stuff to people abroad.

Brad DeLong