LESSON 5 by Ludwig von Mises - Foreign investment

In many so called "developing countries", the current policies prevent or slow down the accumulation of domestic capital AND foreign investments. France learn this the hard way when it lended 20 billions gold franc to Russia pre WW1. Some 20 years later, a rising communist Russian government declared it would not pay the debts incurred by its predecessor.

Foreign investments brings more capitals which lead to industrialization, more plants, higher wage, better condition and better living standards. But the risk of expropriation and confiscation from a government will only push away beneficial foreign capital.

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