On Swiss bank accounts:

Another way to put this is that in an economy not really going anywhere, those who do make something from it have a very strong temptation to extract their gains. But when we’ve got an economy transforming and growing as fast as any has ever done the desire runs the other way.

Not to take money out but to invest and reinvest in that great opportunity. That is, the greatest disincentive to offshoring money out of Bangladesh is the economic growth rate inside Bangladesh.

As ever in matters economic we’ve more than one thing going on. We can state with absolute certainty that all of them are. Our difficulty is in knowing quite how much of each. My preference, prejudice if your prefer, would be to say that it’s the money to be made at home lowering the amount being sent offshore as the greater influence. Feel free to disagree with that as you wish. I do though insist that this is part of it.

1 thought on “Elsewhere”

  1. But utility – the value of money – depends on what floats your boat. And not living in Dhaka probably floats alot of rich Bangladeshi boats. They don’t want more money so that they can get even more money, they want more money so they can get the fuck out of Dodge.

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