[Marxism] US: "A Giant Vacuum Cleaner That Sucks Up 'All the World's Spare Investible Cash'"

Yoshie Furuhashi furuhashi.1 at osu.edu
Mon Aug 1 08:32:09 MDT 2005


If many workers come to the United States to work, they are only  
following the capital accumulated by their own and their parents' labor.

John Miller, who is really cute (see his photo at <http:// 
mrzine.monthlyreview.org/miller160705.html>), writes:

<blockquote>The U.S. economy has not just become a giant vacuum  
cleaner that sucks up "all the world’s spare investible cash," in the  
words of University of California, Berkeley economist Brad DeLong,  
but about one-third of that money comes from the developing world. To  
put this contribution in perspective: DeLong calculates that $90  
billion a year, or one-third of the average U.S. current account  
deficit over the last two decades, is equal to the income of the  
poorest 500 million people in India.

(John Miller, "Dollar Anxiety," Dollars & Sense 257, January/February  
2005, <http://www.dollarsandsense.org/archives/2005/0105miller.html>) 
</blockquote>

Based on this calculation, I conclude that more immigrant workers  
ought to come to the United States, rather than letting native-born  
US workers have all the jobs created by capital sucked out of the  
rest of the world.

Yoshie Furuhashi
<http://montages.blogspot.com>
<http://monthlyreview.org>
<http://mrzine.org>
* Mahmoud Ahmadinejad: <http://montages.blogspot.com/2005/07/mahmoud- 
ahmadinejads-face.html>;  <http://montages.blogspot.com/2005/07/chvez- 
congratulates-ahmadinejad.html>; <http://montages.blogspot.com/ 
2005/06/iranian-working-class-rejects.html>






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