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America’s Influence on World Finance

In: America’s Impact on the World

Author

Listed:
  • William Woodruff

    (University of Florida)

Abstract

The fact that the West came to look upon money as a sign of God’s providence (in contrast to the ancient view that regarded money as barren) greatly assisted the accumulation of western wealth. In all the great works of antiquity, the crucial factor was not wealth but labour (which, according to the labour theory of value, some people equate with capital). One has only to look at the great public works in China and India to realise that, for many people in the world, labour, unassisted by machines and capital equipment — ant-like in its teeming thousands — was and still is the crucial factor.

Suggested Citation

  • William Woodruff, 1975. "America’s Influence on World Finance," Palgrave Macmillan Books, in: America’s Impact on the World, chapter 0, pages 68-103, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-02065-2_4
    DOI: 10.1007/978-1-349-02065-2_4
    as

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