A master of the Brazilian economy: Ignácio Rangel

Vol. 13 No. 2 (1993)

Apr-Jun / 1993
Published April 1, 1993
PDF-Portuguese (Português (Brasil))
PDF-Portuguese (Português (Brasil))

How to Cite

Bresser-Pereira, Luiz Carlos, and José Marcio Rêgo. 1993. “A Master of the Brazilian Economy: Ignácio Rangel”. Brazilian Journal of Political Economy 13 (2):272-94. https://doi.org/10.1590/0101-31571993-0732.

A master of the Brazilian economy: Ignácio Rangel

Luiz Carlos Bresser-Pereira
Da Fundação Getúlio Vargas - FGV, São Paulo/SP, Brasil.
José Marcio Rêgo
Brazilian Journal of Political Economy, Vol. 13 No. 2 (1993), Apr-Jun / 1993, Pages 272-294


Ignácio Rangel may be the more original analyst of the Brazilian economic development.
His contribution was made particularly in the 1950s and 1960s. Influenced by
Keynes and Marx, he adopts a historical and dialectical method. He was the first Brazilian
economist to introduce the Kondratieff’ long cycles in the analysis of the Brazilian economy.
ln his analysis of Brazil, he always stressed its dual and dynamic character, where the long
cycles and changing process of leading social classes presides the process of accumulation
in new sectors of the economy, transferring resources from the sector with idle capacity. His
major contribution, however, was in inflation theory. He criticized the monetarist and the
structuralist views of inflation and showed the endogenous character of the money supply in
a pioneering way. As early as 1978 he realized the financial crisis of the state and, in spite of
his left leaning position, proposed the privatization of public utilities.

JEL Classification: B22; B24; B31.

Keywords: History of economic thought Rangel