Subject: Re: globalizatio of capital Date: Thu, 27 Apr 95 10:13:03 +0100 From: wpc-AT-cs.strath.ac.uk Chris: What reforms would be consistent with marxism? And which might make common cause with say, post Keynsians? I wonder if anyone can come in? Paul: I would suggest that reforms that restrict the free movement of capital and which increase the propensisty to invest in physical capital would be advantageous. As examples of the first 1) A 2% tax on all foreign exchange transactions this would greatly diminish the speculative flows of money capital 2) A punitive rate of taxation on earnings from overseas assets Reforms which increase propensity to invest 1) Holding the real rate of interest to no more than 2.5% above the rate of inflation 2) Changes in company law prohibiting distribution of dividends unless a firms non-financial assets have grown by some given percentage after allowing for stock appreciation The objectives of these are to allow the recreation of full employment with the consequential strengthening of the social position of labour. --- from list marxism-AT-lists.village.virginia.edu --- ------------------
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