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!
