Marvin Gandall wrote:

Julio asks:

Didn’t the share of revenues from international transactions increase substantially for U.S. firms in the 1990s — particularly for U.S. firms other than oil companies, military contractors, or companies that deal with Israel? Isn’t this the bulk of U.S. capital? As the interest of U.S. capital — other than the listed “special interests” — in global business increases, wouldn’t they benefit from a modicum of lasting stability and order in the Middle East — particularly as

>the possession of WMD in the region gets to be more likely by the day?

Yes, they would benefit; as you know, capitalists as individuals and as a class are the first to understand the relationship between stability and profits.

Don’t forget the argument of Nitzan & Bichler in The Global Political Economy of Israel: oil companies like tensions in the Middle East, because they raise prices and therefore profits.

Doug

This entry was posted on Thursday, March 30th, 2006 at 6:52 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.