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To: curiosity
Paul Samuelson is not a first rank economist, he is a semi socialist Keynesian and always has been. This is like a news flash that Karl Marx has doubts about capitalism.
4 posted on 11/20/2004 10:04:28 AM PST by JasonC
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To: JasonC

Globalism = Communism

"Do not imagine, gentlemen, that in criticizing freedom of trade we have the least intention of defending the system of protection."

. "One may declare oneself an enemy of the constitutional regime without declaring oneself a friend of the ancient regime."

. "Moreover, the protectionist system is nothing but a means of establishing large-scale industry in any given country, that is to say, of making it dependent upon the world market, and from the moment that dependence upon the world market is established, there is already more or less dependence upon free trade. Besides this, the protective system helps to develop free competition within a country. Hence we see that in countries where the bourgeoisie is beginning to make itself felt as a class, in Germany for example, it makes great efforts to obtain protective duties. They serve the bourgeoisie as weapons against feudalism and absolute government, as a means for the concentration of its own powers and for the realization of free trade within the same country."

. "But, in general, the protective system of our day is conservative, while the free trade system is destructive. It breaks up old nationalities and pushes the antagonism of the proletariat and the bourgeoisie to the extreme point. In a word, the free trade system hastens the social revolution. It is in this revolutionary sense alone, gentlemen, that I vote in favor of free trade." : Karl Marx


6 posted on 11/20/2004 10:11:23 AM PST by nanak
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To: JasonC
Paul Samuelson is not a first rank economist, he is a semi socialist Keynesian and always has been.

News flash: every mainstream economist today, including Bush's cheif economic advisor, accepts the Keynesian theory as the best explanation of short economic fluctuations. Samuelson is no exception. The empirical evidence in favor of it is overwhelming. You need to study.

And Keynes was not a socialist.

50 posted on 11/20/2004 1:14:35 PM PST by curiosity
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