Defining Capitalism

Michael Perelman michael at ecst.csuchico.edu
Tue Jul 3 19:39:39 PDT 2001


Pardon my ignorance but selling a copy of microsoft windows does not exactly equal the import of a garment, even if their market price is equivalent.

Also, you used to use Keynes's long run quotation as your sig. How long has the US run deficits. This country actually imports quite a bit more than it exports, but despite the run-up of "unskilled" jobs during the final couple of Clinton years, outsourcing has been a definite negative for most "unskilled workers."

All this in response to the sigh that my ignorance evoked.

On Tue, Jul 03, 2001 at 01:41:37PM -0700, Brad DeLong wrote:
> >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

-- Michael Perelman Economics Department California State University Chico, CA 95929

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



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