Mesa redonda sobre la devaluación del dólar y la política monetaria ecuatoriana
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This article was scanned by the Aurelio Espinosa Polit Ecuadorian Library.
The international monetary crisis expresses a culminating point of the deterioration of the capitalist system and its most immediate and direct origins would be given by various factors of the American crisis of the 60s. In this sense, the dollar crisis can be explained by the following causes: uncontrolled price inflation in the US economy; chronic deficit in its balance of payments caused by the outflow of dollars for the aggression against Vietnam and for financial penetration, mainly in Europe; trade deficit due to the lower price and better quality of industrialized products from other areas. All these factors forced Washington to devalue the dollar by 8.6% in December 1971.
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