From: wdrb-AT-siva.bris.ac.uk
Date: Wed, 05 Feb 1997 14:04:49 GMT
Subject: RE: M-I: RE: In the last instance - Toyota has spoken


Adam Rose says:

<<<The underlying weakness of British Capitalism in relation
to its rivals means that there simply is no "right" answer.
They're not strong enough to go it alone - nor are they
strong enough to win within a highly integrated EU.>>>>

I would be interested to hear how Adam Rose judges
'the underlying weakness of British Capitalism in relation
to its rivals'. Is British Capitalism weaker than Spanish
Capitalism for example. If not then, according to Adam's logic,
Spanish Capitalism would be even less enthusiastic about
joining the EMU because it would fear being swamped
by its rivals to an even greater degree. This is not
the case.

I think the picture is complicated. Certainly the British ruling class
is split. The rightwing see the politics of nationhood
as the bulwark of capital and think abandoning the
nation is dangerous. The City, of great importance
to the ruling class, aims to maximise its chance 
of remaining a global finance hub.

The tension between Europe and the USA does
tend to pull the UK in two directions but it
is also true that USA originating transnationals
have a massive stake in Europe and European
transnational have a massive stake in the USA.

European unification will only be starkly
significant if it coincides with major
economic ruptures between Europe, NAFTA
and East Asia. I suggest this is unlikely

will brown   bristol


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