christian11 at mindspring.com wrote:
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> In that sense LDC investment is more of a income buffer than a source of huge profits.
>
This is what I'm trying to get at. In any simple sense it seems ridiculous to speak of "superprofits" in the "third world" as opposed to the "first world." (Scare quotes because I don't have the foggiest idea as to what the best terminology would be.) Moreover, a common way of speaking as though a simple entity named "England" was exploiting a simple entity named "Bolivia" seems to treat the world as a checkerboard rather than a complex set of inter-relations. Sectors of British capital made huge profits from Bolivia -- and it seems those sectors wielded sufficient political power in England to define those profits as constituting the "national interest." of England. One doubts that it was, but I have never read an analysis of imperialism which tried to take such complexities into account.
Carrol