La deuda pública condiciona la política

el caso argentino

Abstract

Public debt is at the origin of capitalism, as Karl Marx explains in the original accumulation of capital (Capital, Volume I, Chapter XXIV). Private and public debt is associated with the historical and present development of the capitalist order and therefore it is of interest to trace the role of “debt” in the constitution and development of capitalism in each country. At present, debt is associated with the expansion of fictitious capital, as an essential mechanism of production and reproduction of the capital regime. Financial income constitutes a privileged form of capitalist accumulation in times of crisis, crossing all spheres of economic activity in the world system. When we say “debt”, we refer to state, corporate and family debt. In the text that follows, we privilege considerations related to public debt and preferably to the Argentine case.