Monetary Order and Income Distribution. The case of Argentina 1991-2011
Keywords:
Currency, Central Bank, Income Distribution, ArgentinaAbstract
The present article analyzes the relationship that exists between the income distribution and the institutions of monetary order based on two complementary theoretical schemes. First, we turn to the institutionalist monetary theory of Aglietta and Orléan, to account for the institutional mechanisms through which the monetary regime biases the income distribution between creditors and debtors, depending on the functions assigned to the Central Bank. Second, the focus of the monetary circuit is used to explain the power that commercial banks have in the selection of companies and / or sectors that will be winners or losers in the distributive struggle. Finally, the modifications to the monetary order that occurred in Argentina during the neoliberal period (1991-2001) and post-neoliberal period (2002-2011) and its effects on the distribution of income are studied.
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