The Brazilian duality of Ignácio Rangel

Vol. 14 No. 4 (1994)

Oct-Dec / 1994
Published October 1, 1994
PDF-Portuguese (Português (Brasil))
PDF-Portuguese (Português (Brasil))

How to Cite

Guimarães, César. 1994. “The Brazilian Duality of Ignácio Rangel”. Brazilian Journal of Political Economy 14 (4):571-86.

The Brazilian duality of Ignácio Rangel

César Guimarães
Do Banco Finasa de Investimento. São Paulo/SP, Brasil.
Brazilian Journal of Political Economy, Vol. 14 No. 4 (1994), Oct-Dec / 1994, Pages 571-586


Brazilians dub the eighties “the lost decade”. After forty years of an average
annual growth of 7%, the GDP per inhabitant dropped 5% in that decade. Ignácio Rangel,
a Marxist economist, foresaw the coming of the crisis in 1978, and suggested the only way
out: the privatization of the public utilities. That was before Reagan and Thatcher. The “Brazilian
Duality” is the mainspring of Rangel’s thought. According to it, the national economy
must be analysed from both its “internal side”, i.e., the national economy itself, and its “external
side”, the world economy.

JEL Classification: B31; B24.

Keywords: History of economic thought Rangel