Quotation of the Day…

by Don Boudreaux on November 17, 2011

in Complexity & Emergence, Growth, Myths and Fallacies

… is from page 32 of Daniel Cohen’s odd but useful 2006 book, Globalization and Its Enemies (which is the translation, by Jessica Baker, of his 2004 book, La Mondialisation et ses ennemis):

There is no convincing proof that returns to capital in the form of profits are greater in poor countries than in wealthy countries.  Far from then observing a tendency for international capital to flow toward the South, it is shown that capital has a much greater tendency to leave the South and go to the North.

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