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Mr. Macquedy: Then, sir, I presume you set no value on the right principles of rent, profit, wages, and currency?. The Rev. Dr. Folliott: My principles, sir, in these things are, to take as much as I can get, and to pay no more than I can help. These are every man's principles, whether they be the right principles or no. There, sir, is political economy in a nutshell. Mr. Macquedy: The principles, sir, which regulate production and consumption, are independent of the will of any individual as to giving or taking, and do not lie in a nutshell by any means. Thomas Love Peacock, Crotchet Castle , ch. 2, “The March of Mind” The growing importance of country risk Among the components of what bankers and corporate investors now analyze as “country risk,” the categories of political and social or cultural risk are of special interest for any social or political theorist. Country risk in the first instance may be seen simply as a type of risk faced by an international capital investment, loan, or export sale, not because of the properties of the factor markets concerned or the capacity to pay or repay of the foreign borrower or buyer, but because of the character of social and political relations in the country in question and because of the implications this character may have for the possibility of the expropriation of the investment, default on the loan, or more or less protracted failure to pay for the export (Kern 1981, p. 76).
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