And it's not that there is a transfer of wealth from "firms" to workers, but that there is a transfer of wealth from bankers, traders, and firm owners to workers.
Citation needed.
Preferably more than one.
Legal persons own things. En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma
The question is - what evidence do you have that proves your contention that wealth is transferred from owners to workers?
The same question goes the other way: What evidence do you have that wealth is transferred from workers to owners when a currency crisis occurs? It might just as easily be a transfer of wealth from capitalist-owners to capitalist currency traders and thus have only minor welfare effects in terms of workers and other more vulnerable populations.
Sweden had in 70ies and 80ies fought unemployment with a series of devaluations, all the while having a high inflation which ate the gains of the devaluations. This had several effects, one of them was creating a generation with next to no mortgages on their houses, as inflation had been higher then interests rates for a long period.
On the other hand Sweden had a currency crises in the early 90ies which served as the starting point for neoliberal reforms and the socdems taking the third way. Similar crises, same country, different result. A vote for PES is a vote for EPP! A vote for EPP is a vote for PES! Support the coalition, vote EPP-PES in 2009!
