[lbo-talk] Krugman: The logical fallacy of euro doorstep austerity

Michael Pollak mpollak at panix.com
Wed Aug 4 08:05:06 PDT 2010


On Wed, 4 Aug 2010, Doug Henwood wrote:


> But the class effects are different. In a wage deval, the working class
> gets hammered. In a currency devaluation, those with foreign assets get
> hammered.

Excellent point.

Michael



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