A Second Paradox of Thrift: Investment Strategies and the Future
Author(s)
Block, Fred
Abstract
The author presents a detailed account of recent Argentinean crises as well as the political and economic conditions that accelerated then. Historically, monetary crises have been related to hyperinflation, from which Argentina has often suffered. In the last Argentinean crisis, however, the author states that there was an implosion of economic and monetary circumstances due to hyperdeflation. The Argentinean hyperdeflation was the direct result of attempting to integrate the economy into the international financial capitalist system by enforcing an anti-inflationary and anti-expansionary policy.
