wow! it's super tuesday already!
before bedtime in bodrum, early returns have arrived: huckleberry finn is the first victor in g.o.p.! the exciting race, though, is still between barack obama and hillary clinton...
i wrote in the previous post how the gigantic political-economic force of the u.s.a. is "divided" between an extroverted, global sector and an inbound, home-oriented economy that is rather indifferent to world-wide dynamics. extroverted america represents only about one fourth of the union's total economic acitivity but not only is it far more productive and efficient per capital dollar, it also is the largest element in global transactions by far.
two thirds of american productive activity is directed for the home, however. i speculated that the recent crisis and the intervention of the federal reserve are bound to reflect on that introverted sector, drive and motivate it toward competitivity and integration with global economy.
in classes, i usually identify extrovert, global america with new york, which indeed, is the world's true capital city; and introvert america with chicago, which is the center of america, "that vast expanse of land between mannhattan and california" (1).
is it a coincidence that the very local, almost parochial obama is from illinois; and the outgoing, world-smart ex-first lady, the globalized former governess of arkansas, hillary clinton represents new york?
[p.s. - the financial markets, struck by the crisis, did not take long to regain their balance. this may be read as an indication that the so called recession or stagnation will be overcome by a ruthless and fatal conversion of local, introverted, unproductive industries/services to global competitivity all over the world; slightly at the expense of chindia and other slave/corvée economies. such recovery and/or restructuration will naturally have to be financed through the world's capital markets which have to work at a healthy rythm.]
(1) quoting homer simpson...