[lbo-talk] Apres L'Empire

[Brad Mayer]

Todd mentions this also, in fact - mocking the language of 'neoliberal' economists - stating that it is in the interest of the US to see the depression of effective demand elsewhere, as this boosts the 'comparative advantage' of the US as the worlds' 'consumer of last resort', the current US 'speciality' in the world market.

-Brad Mayer

Message: 10
From: "Ulhas Joglekar" <uvj at vsnl.com>
To: "lbo-talk" <lbo-talk at lbo-talk.org>
Subject: Re: Re:[lbo-talk] Apres L'Empire
Date: Fri, 11 Jul 2003 20:13:16 +0530
Reply-To: lbo-talk at lbo-talk.org

Dwayne Monroe wrote:


> Is this, in fact, the central idea: that the constant
> need for foreign capital to fund the ever expanding
> deficit is the Achilles heel?
>
> If so, I'd be interested to read a decscription of the
> weaknesses of this idea.

It is also the weakness of the large areas of the world that they depend on
the US market for their growth. If it were not for expanding US deficit, the
growth elsewhere would have been slower or even negative.

Ulhas