It's basic macro. Assets, exports, capital accounts, current accounts, savings, investment. Essentially, windfall surplus in one area causes savings bubbles cau

It's basic macro. Assets, exports, capital accounts, current accounts, savings, investment. Essentially, windfall surplus in one area causes savings bubbles causes investment bubbles causes asset pumps and export dumps, usually in a different area. He cites a bunch of historical examples and then goes step by step through techniques for identifying sources/sinks and directionality. Oh, and did you know that Ricardo based his analysis on the assumption of a closed capital account? It's interesting how the theory of comparative advantage usually gets invoked without mentioning that ;) If you dogmatically reject the idea that political economy could possibly involve the concept of class, I'd love to hear how your analysis clusters the interests involved. In any case, he's not a CCP shill. He throws some mean punches in that direction with facts and figures to back them up. Everyone hustles in the world economy.