“The inflow of capital from the developed countries is the prerequisite for the establishment of economic dependence.”

— Ernesto Che Guevara

On Development (1964)
Context: The inflow of capital from the developed countries is the prerequisite for the establishment of economic dependence. This inflow takes various forms: loans granted on onerous terms; investments that place a given country in the power of the investors; almost total technological subordination of the dependent country to the developed country; control of a country's foreign trade by the big international monopolies; and in extreme cases, the use of force as an economic weapon in support of the other forms of exploitation.

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "The inflow of capital from the developed countries is the prerequisite for the establishment of economic dependence." by Ernesto Che Guevara?

Ernesto Che Guevara 258

Argentine Marxist revolutionary 1928–1967

Related quotes

“Throughout the years in which the US was punishing countries that departed from fiscal prudence, it was borrowing on a colossal scale to finance tax cuts and fund its over-stretched military commitments. Now, with federal finances critically dependent on continuing large inflows of foreign capital, it will be the countries that spurned the American model of capitalism that will shape America's economic future.”

John Gray (1948) British philosopher

A shattering moment in America's fall from power (2008)

“However extensively Lenin was prepared to creatively develop the Marxism he inherited, he was not prepared to ‘skip stages’ in achieving socialism. Socialism required, as prerequisite, the modernization and industrial development of its economic base. To create the missing material prerequisites, Lenin was prepared to fall back on a centrally supervised market-influenced program of state capitalism.”

A. James Gregor (1929–2019) American political scientist

Source: Marxism, Fascism & Totalitarianism: Chapters in the Intellectual History of Radicalism, (2008), p. 56

“Intellectual capital is the main determining factor and the base for economic and social development to any country.”

Talal Abu-Ghazaleh (1938) Jordanian businesspeople

Meeting the Challenges of Electronic Business” in Muscat, Oman, October 9, 2000.

“The economic success of the Reagan Administration was largely dependent upon the pyramiding of massive debt and the siphoning of capital from the rest of the world.”

Robert Gilpin (1930–2018) Political scientist

Source: The Political Economy of International Relations (1987), Chapter Nine, transformation Of The Global Economy, p. 362

“The most important prerequisite for becoming an entrepreneur is the ownership of capital.”

Michał Kalecki (1899–1970) Polish economist

Source: Theory of Economic Dynamics (1965), Chapter 8, Entrepreneurial Capital and Investment, p. 95

“As water flows from high to low, knowledge has always flowed from where there is more to where there is less. Those countries that are better at absorbing the knowledge inflow have been more successful in catching up with the more economically advanced nations. On the other side of the fence, those advanced nations that are good at controlling the outflow of core technologies have retained their technological leadership for longer. The technological 'arms race', between backward countries trying to acquire advanced foreign knowledge and the advanced countries trying to prevent its outflow has always been at the heart of the game of economic development.”

Ha-Joon Chang book Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism

Source: Bad Samaritans: The Myth of Free Trade and the Secret History of Capitalism (2008), Ch. 6: 'Windows 98 in 1997; Is it wrong to 'borrow' ideas?', John Law and the first technological arms race, p. 127

“Production functions involving only land, labor and capital… never work and never explain economic development.”

Kenneth E. Boulding (1910–1993) British-American economist

Kenneth Boulding (1990). "Taxonomy as a Source of Error." in Methodus Vol 2. p. 17-21, as cited in: Deirdre McCloskey (2013) " What Boulding Said Went Wrong with Economics, A Quarter Century On http://www.deirdremccloskey.com/editorials/boulding.php"
1990s and attributed