International Liquidity Crisis and Class Struggle

Enrique Diaz-Alvarez enrique at anise.ee.cornell.edu
Thu Mar 4 18:29:48 PST 1999


Rakesh Bhandari wrote:

Very interesting post, Rakesh. Could you explain what this means?


> Through the
> system of international loans, ultimately underwritten by state debts and
> the power of the state to tax, the fictive bubble originating in the
> sphere of production circulates globally as long as it can be "valorized"
> through a surplus generated somewhere in the system.

Enrique



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