I'd like to thank Gernot for his comments and would suggest to wait a
little bit for other comments as well before I put a longer rejoinder on
the network. Well, of course I do not believe in agents. The sheer economic
might of accumulated savings in Germany (just walk arround Starnberg with
open eyes) would suggest that these 4000 to 5000 billion Marks would
quickly switch into the $, should the Euro be weak. For the French, their
own elites would probably do the same. The very same day, that we heard
3.0% = 3.0 % (or perhaps not, after all) again in the news, Frankfurter
Allgemeine carried a neat little advertisement by Deutsche Bank: now Dollar
savings in Germany. I can only advise anybody to do the same
Kind regards
Arno Tausch
----------
> From: Gernot Kohler <gernot.kohler@sheridanc.on.ca>
> To: WORLD SYSTEMS NETWORK <wsn@csf.colorado.edu>
> Subject: Arno Tausch - Debating Euro-Monetarism
> Date: Mittwoch, 02. Juli 1997 17:15
>
> A comment on Arno Tausch's recent posting "EURO-monetarism and the future
> of world capitalist currency reserves".
>
> I found your paper very interesting and agreeable from a left-Keynesian
> ("post-Keynesian") point of view. You also refer to one of the
> intellectual ancestors of left-Keynesianism, namely, Kalecki. Very nice.
> What I found interesting is that Samir Amin's Marxism and your
> "socio-liberalism" appear to be highly convergent with respect to the
> analysis of Europe. (This reminds me af an historical parallel--Hobson's
> theory of imperialism and socialist theories of imperialism had many
> similarities -- yet, Hobson was a liberal.)
>
> I am wondering why, with a majority of EU-country governments being
> centre-left at this time, they do not change the Maastricht criteria.
> Does one have to blame an "agent" (notably, the conservatives governing
> Germany) or a "structure" (the capitalist world system) or, likely, both?
>
> Regards,
> Gernot Kohler
> Sheridan College
> Oakville, Ontario, Canada