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The majority of economic literature tends to discuss economic development issues by analysing the industrial policy and other long-term development policies separate from short-term macroeconomic policy. However, development strategies require a close coordination of the macroeconomic regime with the industrial policy. In addition to Brazil, our analytical discussion and normative implications can be addressed to other developing countries also facing premature deindustrialisation. We propose an analytical discussion of the phenomena of industrialisation, deindustrialisation and reindustrialisation, including a discussion on the connection between the macroeconomic regime and industrial policy, both oriented to reindustrialisation and catching up. The main point is that both policy regimes must be closely coordinated with each other. Concerning the macroeconomic regime, we argue that consistent monetary, fiscal, wage and exchange rate policies are those which are able to not only keep price stabilisation, but also provide average real interest rates below the average real return rates on capital, a competitive real exchange rate and real wage rates increasing in accordance with labour productivity growth. As for industrial policy, theoretical and empirical evidence suggest strategies aimed at the diversification of production, processes and products, especially within the manufacturing sector and within tradable segments of the service sector. [ABSTRACT FROM AUTHOR]

This paper discusses distribution and the historical phases of capitalism. It assumes that technical progress and growth are taking place, and, given that, its question is on the functional distribution of income between labor and capital, having as reference classical theory of distribution and Marx's falling tendency of the rate of profit. Based on the historical experience, it, first, inverts the model, making the rate of profit as the constant variable in the long run and the wage rate, as the residuum; second, it distinguishes three types of technical progress (capital-saving, neutral and capital-using) and applies it to thehistory of capitalism, having the UK and France as reference. Given these three types of technical progress, it distinguishes five phases of capitalist growth, where only the second is consistent with Marx prediction. In the final phase, corresponding to financier-rentier capitalism and neoliberalism, the profit rate recovered from the fall of the 1970s, while wages have been growing below the growth of productivity [ABSTRACT FROM AUTHOR]

This paper distinguishes three types of countries (rich, middle-income, and preindustrial) and focus on the latter, which, in contrast to the other two, didn't complete their industrial and capitalist revolutions. Can pre-industrial countries be governed well and under democracy? Today democracy is a universal value, and, so, these countries are under pressure from the West and from its own society to be democratic, even though they do not dispose of mature enough societies in which the economic surplus is appropriated through the market. In fact, no country completed its industrial and capitalist revolution within the framework of even a minimal democracy. Additionally, pre-industrial countries are extremely difficult to govern because they usually don't have a strong nation and capable states. This double pressure represents a major obstacle to their development. [ABSTRACT FROM AUTHOR]

The history of independent Brazil may be divided into three major state-society cycles, and, after 1930, five political pacts or class coalitions can be identified. These pacts were nationalist; only in the 1990s did the Brazilian elites surrender to neoliberal hegemony. Yet since early in the twenty-first century they have been rediscovering the idea of the nation. The main claim of this essay is that Brazilian elites and Brazilian society are "national-dependent," that is, they are ambivalent and contradictory, requiring an oxymoron to define them. They are dependent because they often consider themselves "Europeans" and the mass of the people as inferior. But Brazil is big enough, and there are many common interests around its domestic market, to make the Brazilian nation less ambivalent. Today the country is seeking a synthesis between the last two political cycles--between social justice and economic development in the framework of democracy. [ABSTRACT FROM AUTHOR]

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Copyright of Revista de Sociologia e Política is the property of Revista de Sociologia e Politica and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper is a short survey of the work of Ignacy Sachs - one of the pioneers of structuralist development economics and an outstanding economist dedicated to environmental economics. Sachs is PoHsh and a disciple of Michael Kalecki, but he is aiso a Brazilian and a French, given his strong ties with these rwo countries. He knows the importance of markets in the coordination of the economy, but, as a de-velopmental economist, he atttibutes a key role to economic planning, Only through the dehberate action of the state it will be possible to achieve economic growth, reduction of inequalities, and protection of the environmsnts - only through de-liberate action way men and women will be able to conduct the Spaceship Earth to economic, social and environmental development and assure a decent work to ali. [ABSTRACT FROM AUTHOR]

The history of independent Brazil may be divided in three major political cycles, and, since 1930, we can distinguish five political pacts or class coalitions. Since 1930 these pacts have been nationalist. Only in the 1990s the Brazilian elites surrendered to the neoliberal hegemony. Yet, since the mid 2000s, they are recovering their idea of nation. In fact, the main claim of the essay is that Brazilian elites and the Brazilian society are "national-dependent", i.e., they are ambiguous and contradictory, requiring an oxymoron to define them. Today, it searches for a synthesis between the two last political cycles -- between social justice and economic development in the framework of democracy. [ABSTRACT FROM AUTHOR]

This paper first presents some basic ideas and models of a structuralist development macroeconomics that complements and actualizes the ideas of the structuralist development economics that was dominant between the 1940s and the 1960s. A system of three models focusing on the exchange rate (the tendency to the cyclical overvaluation of the exchange rate, a critique of growth with foreign savings, and new a model of the Dutch disease) shows that it is not just volatile but chronically overvalued, and for that reason it is not just a macroeconomic problem; as a long term disequilibrium, it is in the core of development economics. Second, it summarizes "new developmentalism" - a sum of growth policies based on these models and on the experience of fast-growing Asian countries. [ABSTRACT FROM AUTHOR]

This is a personal account of the definition of "new developmentalism" - a national development strategy alternative to the Washington consensus -, and of a "structuralist development macroeconomics": the sum of models that justifies theoretically that strategy. It is personal account of a collective work involving Keynesian, institutionalist and structuralist economists in Brazil that are forming a new school of thought in Brazil: a Keynesian-structuralist school. It is Keynesian because it emphasizes the demand side or the investment opportunities' side of economic growth. It is institutionalist because institutions obviously matter in achieving growth and stability. It is structuralist because it defines economic development as a structural change from low to high value added per capita industries and because it is based on two structural tendencies that limit investment opportunities: the tendency of wages to grow below productivity and the tendency to the cyclical overvaluation of the exchange rate. [ABSTRACT FROM AUTHOR]

Copyright of Dados - Revista de Ciências Sociais is the property of DADOS and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The two methods and the hard core of economics. While methodological sciences have no object and are supposed to adopt a hypothetical-deductive method, substantive sciences including economics should use an empirical or historical-deductive method. The great classical economists and Keynes did that and were able to develop open models explaining how equally open economic systems work. Thus, the hard core of relevant economics is formed by the classical microeconomics and the classical theory of capitalist economic growth, and by Keynesian macroeconomics. In contrast, neoclassical economist aiming to build a mathematical science wrongly adopted the hypothetical-deductive method, and came to macroeconomic and growth models that do not have practical use in policymaking. The exception is Marshall's microeconomics that does not provide a model of real economic systems, but is useful to the analysis of markets. [ABSTRACT FROM AUTHOR]

There is a problem of insufficiency of demand for countries that accept to grow with foreign savings. Although medium-income countries are capital-poor countries, current account deficits (foreign savings) will increase consumption rather than the rate of capital accumulation and aggregate demand. In consequence, the rate of substitution of foreign for domestic savings will be relatively high, and the country will become indebted to consume, not to invest and grow. Only when there are large investment opportunities, stimulated by a sizable difference between the expected profit rate and the long-term interest rate, will the marginal propensity to consume be low enough for the additional income originated from foreign capital flows to be used for investment rather than consumption. With this paper, the authors intend to contribute to the development macroeconomics approach to economic growth which emphasizes the need for a competitive exchange rate to promote growth, instead of an overappreciated one—an exchange rate that assures the sustained character growth of aggregate demand. [ABSTRACT FROM AUTHOR]

Copyright of Revista de Sociologia e Política is the property of Revista de Sociologia e Politica and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The article discusses economic condition in Brazil. Since 1980, the Brazilian economy has faced quasi-stagnation. The causes are the foreign debt crises in the 1970s changed into a fiscal crisis of the state and into high and inertial inflation in the 1980s. Despite economic policy that privileged stabilization to growth, in 1990s, the country faced two balance-of-payment crises and, again, accumulated an extremely high foreign debt and a high public debt. Brazil's bad economic outcomes since 1995 may be attributed to three kinds of interrelated factors. Firstly, an agenda mistake which had inflation instead of the balance of payments equilibrium as the major problem that the government should address from 1995 onwards. Secondly, the Second Washington Consensus, according to which economic development should be financed by foreign savings in the context of open financial accounts and finally, the lack of a national project on the part of the Brazilian elites. The assertion of Brazil as an autonomous nation, which had progressed between 1930 and 1980, underwent a serious fallback since the early 1990s, as the country again started to accept, without the required critique, the recommendation coming from the North.