[Marxism] Bustelo's Theses 3
sartesian at earthlink.net
Mon Apr 6 22:56:10 MDT 2009
So now we come to the bottom line of this thumbnail sketch, which isn't the cuticle, but net income earned on the assets of US majority owned foreign affiliates.
The total amount of such assets in 2007 was approximately $11.54 trillion. Where were the bulk of those assets. By this time you won't be surprised if I tell you that over 70% was concentrated in Europe and Canada.
What was the net income reported? $706 billion total. Europe and Canada accounted for 62% of that amount.
Hong Kong, Japan, Singapore, and Australia, accounted for another 11% of assets and 10% of income. We now have accounted for 81% of the assets of US majority owned affiliates and 72% of the income earned. And we have found both concentrated in the developed areas-- and even though Hong Kong and Singapore were once colonies, maybe because they were both colonies, it is clear that we need better tools to analyze modern capitalism, its mode of reproduction, and the potentials for its overthrow than the primitive analysis of an imperialism that does not exist, and never has existed, as some pretend it did and does.
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