by What is the “new mercantilism”? Joan Robinson says:…Nowadays governments are concerned not just to maintain employment, but to make national income grow. Nevertheless, the capitalist world is still always somewhat of a buyer’s market, in the sense that capacity to produce exceeds what can be sold at a profitable price. Some countries have experienced spells of excessive demand, but this corrects itself only too soon. The chronic condition for industrial enterprise is to be looking round anxiously for prospects of sales. Since the total market does not grow fast enough to make room for all, each government feels it a worthy and commendable aim to increase its own share in world activity for the benefit of its own people.This is the new mercantilism.The Case for Concerted ActionKeynes,
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Robert Vienneau writes Austrian Capital Theory And Triple-Switching In The Corn-Tractor Model
Mike Norman writes The Accursed Tariffs — NeilW
Mike Norman writes IRS has agreed to share migrants’ tax information with ICE
Mike Norman writes Trump’s “Liberation Day”: Another PR Gag, or Global Reorientation Turning Point? — Simplicius
What is the “new mercantilism”? Joan Robinson says:
…Nowadays governments are concerned not just to maintain employment, but to make national income grow. Nevertheless, the capitalist world is still always somewhat of a buyer’s market, in the sense that capacity to produce exceeds what can be sold at a profitable price. Some countries have experienced spells of excessive demand, but this corrects itself only too soon. The chronic condition for industrial enterprise is to be looking round anxiously for prospects of sales. Since the total market does not grow fast enough to make room for all, each government feels it a worthy and commendable aim to increase its own share in world activity for the benefit of its own people.
This is the new mercantilism.