Karl: Economic crises are solved by devaluation. Not the devaluation of
bits of paper. The devaluation of capital. This takes the form of the
devaluation of constant and variable capital. The latter is capital in
the form of labour power. The devalorisation of variable capital does
not necessaril
Karl,
While I don't necessarily disagree with your assessment of a devaluation,
the quote from Duhalde you included below refers to those middle-class
consumers and businesses that have debts in dollars. If there is no
pesoification first, then most of these debtors would go bankrupt, since
t
