Do you have any idea what the post-WWII global investment environment was like? Most countries outside the US had currency control for decades. If you as an American investor put your money into Britain, you may not be able to get your money converted back to US dollar for a long time, while the Pound Sterling kept tanking against the dollar. That's why so many Brits came to the US to work.
Also, you are making a silly assumption about "perfect market." No, market is not perfect at any given time. In fact, if the market were perfect, it would cease to exist as the two parties engaged in a transaction wouldn't be able to cover the transaction cost. In real life, market exists due to both parties perceiving imperfection in the market place and taking actions to take advantage of it and counter-act it at the same time! When NASA is the in the market place bidding up the price of astro engineers and material/components useful for its space projects, its bids drive up the cost of any other company that would have to hire the same people and use the same material. The overhead of crossing borders four times (invest money going overseas, customer money overseas, customer repatriating profit, launch company repatriating profit) would have been enormous back then. There was a reason why in the 50's, 60's and 70's, most of the world tried to sell goods and services to the US, not the other way around. What goods/service couldn't be sold in the US simply had to feed at much lower troughs among the table scraps.
posted by 75.67.1...
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- Cool video from the International Space Station, Noel , Sun, 22 Apr 2012 09:40:15
- Love the Auroras! Saw my house at 1:17, Bill Homer, Sun, 22 Apr 2012 11:34:36
- Re: Cool video from the International Space Station, AdamSAAB2kAero, Sun, 22 Apr 2012 11:00:37
- The original Sputnik, Tim, Tue, 24 Apr 2012 06:27:32
- The original Sputnik, Reality, Sun, 22 Apr 2012 12:04:01
- Then there's those pesky laws of physics..., Noel , Sun, 22 Apr 2012 16:39:23
- Competitive Market is a discovery process, Tim, Tue, 24 Apr 2012 06:29:41
- Competitive Market is a discovery process, Reality, Sun, 22 Apr 2012 17:22:30
- S. Korea: case where gov't intervention has worked, Bill Homer, Sun, 22 Apr 2012 20:09:17
- A perfect example of the saying..., Noel , Sun, 22 Apr 2012 19:22:44
- aka Personal Attack when logic fails, Reality, Sun, 22 Apr 2012 19:47:05
- Then would you please tell us exactly how, Noel , Mon, 23 Apr 2012 06:38:35
- Look up SpaceShipTwo and WhiteKnightTwo, Reality, Mon, 23 Apr 2012 07:20:07
- Re: Look up SpaceShipTwo and WhiteKnightTwo, Joeychess, Mon, 23 Apr 2012 08:38:39
- Re: Look up SpaceShipTwo and WhiteKnightTwo, Reality, Mon, 23 Apr 2012 09:41:22
- Clipper cost = $22K today, Gene N , Mon, 23 Apr 2012 11:02:11
- One can also buy a ride on a Russian rocket, Noel , Mon, 23 Apr 2012 10:48:36
- Also, Capital utilization rate would be much higher, Reality, Mon, 23 Apr 2012 18:28:50
- Not aware of any Russian rockets taking off from JFK, Reality, Mon, 23 Apr 2012 12:01:23
- Re: Not aware of any Russian rockets taking off from JFK, John G, Mon, 23 Apr 2012 16:37:25
- Does your Aunt still see dead people?, Joeychess, Mon, 23 Apr 2012 21:38:26
- What ifs, maybes and semi-relevant statements..., Noel , Mon, 23 Apr 2012 19:14:42
- Re: Not aware of any Russian rockets taking off from JFK, Reality, Mon, 23 Apr 2012 18:03:14
- LOL...6 figure parties, secret service hookers, GSA..., Joeychess, Mon, 23 Apr 2012 10:02:16
- Re: aka Personal Attack when logic fails, pete, Mon, 23 Apr 2012 04:58:58
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