America’s Influence on World Finance

  • William Woodruff


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.


Foreign Investment Trade Credit Money Market Portfolio Investment Business Investment 


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America’s Impact as Borrower and Lender

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Copyright information

© William Woodruff 1975

Authors and Affiliations

  • William Woodruff
    • 1
  1. 1.University of FloridaUSA

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