<html><div style='background-color:'><DIV class=RTE> "But the development of the contradications within a historical form of production is the only way in which they can be resolved and a new form established."  (Capital I)  On the contradiction between free trade and protection see Marx's "Discourse on Free Trade," where Marx supports free trade precisely because of its destruction of pre-capitalist historical forms of production. See also Harry Shutt, The Trouble with Capitalism, chapter on Coping with the Capital Glut:  "the inevitable consequence of maintaining a high return on the capital stock as a whole is that yet more investible funds will be generated for which outlets must be found...Hence the effort now needed to sustain the market value of capital resembles the futile labor of Sisyphus..." >From: uvj@vsnl.com >Reply-To: lbo-talk@lbo-talk.org >To: lbo <lbo-talk@lbo-talk.org> >Subject: [lbo-talk] India: Marx invoked to break Lefts FDI barrier >Date: Mon, 01 Aug 2005 21:06:38 +0500 > >Chris Doss posted: > > >Marx invoked to break Left’s FDI barrier > > > >SAMBIT SAHA > >Calcutta, July 30: Nothing sells more in Bengal than > >Karl Marx. And Marx it was that Union finance minister > >P. Chidambaram used to push for foreign investment in > >sectors where he faces opposition from Left parties. > >CPM is not against FDI. CPM ruled Bengal gets more FDI than some states ruled by Right wing BJP. One should not be misled by the Leftwing rhetoric. The Left Nationalist paradigm is dead. > > >The minister’s statements came in the backdrop of Left > >parties’ opposition to opening up FDI floodgates in > >the banking, insurance and pension sectors. > >There aren't any plans to open _flood gates_ to FDI in banking, insurance and pension sectors. Foreign banks control only 6 to 7% of deposits and advances in the banking industry. 75% of the banking industry and 90% of insurance industry is state owned. > >Ulhas > > > >___________________________________ >http://mailman.lbo-talk.org/mailman/listinfo/lbo-talk </DIV></div></html>