Like even in the best of scenarios where the left isn't destroyed but can actually summon some form of revolutionary energy against capital, what is to prevent most capital investment from leaving the country as the winds begin to turn?

Is there good theory out there on how to prevent capital flight? Are there capital controls that don't simultaneously provoke capital flight?

    • Gosplan14_the_Third [none/use name]
      ·
      1 year ago

      You mean actively encourage free market and free trade conditions (or at least give the impression thereof) and foreign investment/outsourcing, while having a passive foreign policy with capitalist nations and a highly educated/skilled but low income workforce and lax labor laws?

      It's the kind of thing that worked in 80s to 2010s China (and not without negative effect, like the infamously strong pollution of the mid 2000s) but is not going to work for a country like Cuba or Venezuela. That is of course, unless they'd be willing to lick America's boots and let US companies do whatever they want.

      And even then, it's not like the material conditions for that are the same as in 1999 - the western bourgeois nowadays would rather invest in Indonesia or Bangladesh than Vietnam for the fear of building up another future political adversary.

      Finally, that's a strategy that's completely unviable for higher income countries like if say Greece had a revolution tomorrow.