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Date Posted: 01:20:41 02/21/00 Mon
Author: Anonymous
Subject: Thats Captialism
In reply to: 's message, "REPOST-w problems w/blindly following American model of econ. development" on 00:01:49 02/20/00 Sun

Good questions.

What we are following is the capitalistic way of doing business. It is fueled by the those who control capital , many of whom have the freedom to move massive amount of their wealth anywhere they want to, thanks to free trade. They are not constrained by national boundaries because the articles of the “free trade” , which allows them to do what they please.

The old capitalistic model was relavent thirty years ago, when globalisation was not even a concept. These days its the global companies that dictate the state of play. They can create wealth and destroy it by shiftng capital to a more attractive destination. They use this method to bid down resource developement costs, by forcing kickbacks in terms of tax concesion and labour costs etc, from host countires. America is not immune to this either. Infact their wages, in real terms, are lower than those in Australia, Japan and Europ, a stark reversal from pre 1990. But they are not suffering as much as other countries because the greenback is a form of curency reserve, an alternative to gold. Hence they can control money ‘supply’ via the Federal Reserve, by manipulating its value, just as the oil producing countries control oil supply. Hence they are not as exposed as us.

Resource rich countries have to sell to capital rich countires..that is the reality of the market economy. The vendors at Gordons market have tosell to the Urban Dwellers beacuse they are the ones who have capital or money to pay for their produce.

Resource owners cannot afford to process their own resources because they do not have the infrastructure to do it at a competitive rate ....UNLESS THEY WERE WILLING TO DO IT FOR NEAR TO SLAVERY WAGES or are educated enough to accomplish it. This why education is so important. The more of us that are educated the better placed we will be to get into manufacturing and downstream processing..BUT the key word is “government policy”!!

Globalisation has turned the whole world into a form of energy/resource pyramid, with the weakest (third world countries) being at the bottom.Resource must flow from the bottom to the top, where the money lenders are positioned in the pyramid. They, in turn, supply the capital to develop these resources, but the benefits for such resources has to be shared between the resource owners and the money lenders and the whole country. That is why we get much less than what we know is the real value of the resource. We need to think in terms of ‘net revenue’ if we wish to see through the glossy propsectus of many resource development. If we can do this then we wil realise that many multibillion dollar projects have little net benefit , relative to the size of the capital. In contrast, many smaller village base projects may have better returns than these, but they hardly make it to the spotlight becasue they are overshadowed by the bigger captial intensive projects.

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