ABSTRACT
This chapter uses the insights of the previous chapters to examine the contractionary devaluation debate (CDD). First, I provide a brief history of the debate. Then I analyze the Neoliberal and New Structuralist perspectives in the CDD in detail. In the section after that, I draw on the previous analysis and shows that the CDD is best understood as a debate about ontology. Though the two perspectives differ in their ontology, they have some commonalities, coming from their shared Cartesianism and shared understanding of the project of development as eliminating LDC difference. Then, in the fourth section of this chapter, I examine the differences and commonalities between the two perspectives, and show why the ontological differences between the two perspectives leaves the CDD empirically unresolvable. The final section of the chapter briefly draws out the consequences of the terrain of the CDD, and provides some conclusions.
