It is the export surplus and the budget deficit which enable the capitalists to make profits over and above their own purchases of goods and services.
The connection between 'external' profits and imperialism is obvious.
--
Chapter 3, The Determinants of Profits, p. 52Michal Kalecki
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The capitalists of a country which manages to capture foreign markets from other countries are able to increase their profits at the expense of the capitalists of the other countries. Similarly, a colonial metropolis may achieve an export surplus through investment in its dependencies.
Michal Kalecki
In a sense the budget deficit can be considered as an artificial export surplus.
Michal Kalecki
Contrary to liberal myth, Smith was not an apologist for capitalists. He argued in fact, that capitalists always seek "to deceive and oppress the public" by conspiring to inflate their prices and profits.
David (professor) McNally
Everything predicted by the enemies of banks, in the beginning, is now coming to pass. We are to be ruined now by the deluge of bank paper. It is cruel that such revolutions in private fortunes should be at the mercy of avaricious adventurers, who, instead of employing their capital, if any they have, in manufactures, commerce, and other useful pursuits, make it an instrument to burden all the interchanges of property with their swindling profits, profits which are the price of no useful industry of theirs.
Thomas Jefferson
Armaments and wars, usually financed by budget deficits, are also a source of this kind of profits.
Michal Kalecki
Kalecki, Michal
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