austin-murphy-the-triumph-of-evil

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246 THE TRIUMPH OF EVIL the world (Turner et al., 1998). Given that the high cost of travel to New Zealand is one of the most important deterrents to greater tour ism revenues for the country {Allport, 1999), given that tourism is New Zealand's biggest export industry (with fo reign currency revenues approximately equaling New Zealand's current account deficit), and given that there exists sufficient capacity fo r the number of tourists to New Zealand to double from its present low level of just over one million (Purdue, 1999), the opportunity cost of lost tourist business as a result of artificially high airfares to New Zealand may be enormous. Moreover, as previously explained, New Zealand's unilateral reduction in protectionism could only cause the current account situation to deteriorate. New Zealand's overall free market activities are well sum marized by a Brazilian minister seeking to avoid similar mistakes, "One thing is opening the economy; another thing is being a sucker" (Moffett, 1997). An Effective Solution to Current Account Problems While most of the widely proposed methods of resolving a BOP prob lem (including capital controls, increased protectionism, and improving productivity) may not be feasibly employed to cure a current account deficit in today 's world, there is one solution that can be effectively implemented, as explained in Chapter 5 of this book. The economic plan explained there can be adapted to any country by merely offering domestic consumers coupons that give them the right to purchase domestic goods at a discounted price (or giving them the right to pur chase goods from a particular area of the country with relatively low income). By also allowing the consumers to tum the coupons into the country's convertible currency in exchange fo r a fixed number of such coupons being invested into a long-term government savings account, a convertible currency can be maintained (for trade purposes) at the same time that domestic savings and consumption is encouraged. This f�nn of protectionism may be subtle enough to avoid retaliation by tradmg partners, as some domestic policies, which are effectively protectionist but are considered more of a domestic policy issue, are allowed by the world's major multilateral trade regulator (Hufbauer and Erb, 1984)Y In addition, if a country's current account deficit is large, even the WTO does allow some unilateral increases in protectionism (Edlin, 1999). CHAPTER 6 247 Once a current account problem has been solved, a country can lower domestic interest rates and thereby spur faster real economic growth without causing a devaluation and currency-related inflation. On the other hand, if the domestic central bank wanted to maintain high real interest rates even after the BOP problem had been solved, it would continue to attract net foreign capital inflows and thereby permit an accumulation of fo reign exchange reserves if it chose to maintain a stable currency value with open market purchases of foreign currencies. An alternative to accumulating fo reign exchange reserves in this situa tion would be to allow the currency to appreciate. The latter option of increasing the international purchasing power of the domestic currency would help the country in its battle against brain drain and domestic inflation. Although the latter strong-currency policy might also cause a short-term return of a current account deficit, the downward pressure on domestic prices caused by an appreciation in the domestic currency would eventually result in a balancing of the current account. Thus, while the standard policies fo r dealing with a BOP problem may often not be feasible or effective, a viable solution does exist. This solution provides some hope for avoiding some of the negative aspects of the post-Cold-War era of USA world domination.
248 THE TRIUMPH OF EYIL CHAP TER 7 A SUMMARY POLITICAL ANALYSIS OF USA WORLD DOMINATION This book has conclusively demonstrated that the "bad guys" won the Cold War, resulting in a far more evil world that is both crueler and more inefficient than before. This final chapter provides more facts on the resulting New World Order and briefly describes the outlook for changing it. GLOBAL AMERICANIZATION The triumph of the USA and capitalism in the Cold War has cleared �e way for undisputed world domination by the country documented m the introduction to this book to be the most evil on the face of the earth. The Cold War victory has indeed enabled the USA to even more �c�essfully portray "free markets" as a superior religion and to paint Its Ideological communist enemy as the "evil empire." The term "evil em�ire" was originally applied by USA President Reagan to the Soviet �n�on, which did indeed conduct some killings of civilians in a brutal �lVII war in Afghanistan (Cordovez and Harrison, 1995), as documented 10 C�ter 1. However, even a peaceful priest like President Aristide o�HaJtJ has recently been widely labeled "a psychopath" and "bloodlhtrsty little socialist" by USA capitalists for refusing to go along with USA exploitation of his country (Dupuy, 2000) and for offering resi� �� civilians (Dunkel, 2000). Although it is pretty clear . ly doc�ented �ce to a USA-backed dictatorship that murdered 5000 innocent Hal . hapter 1 that communism did not collapse because 1t was evil (but IDstead because it took root in poorer countries with less resources and
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VI An Effective Solution to Current
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Finito di stampare nel settembre 20
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