On the explanation for the quasi-stagnation of the capitalist economy in Brazil

Vol. 37 No. 3 (2017)

Jul-Sep / 2017
Published February 26, 2020
PDF-Portuguese (Português (Brasil))
PDF-Portuguese (Português (Brasil))

How to Cite

F. S. Prado, Eleutério. 2017. “On the Explanation for the Quasi-Stagnation of the Capitalist Economy in Brazil”. Brazilian Journal of Political Economy 37 (3):478-503. https://doi.org/10.1590/0101-31572017v37n03a02.

On the explanation for the quasi-stagnation of the capitalist economy in Brazil

Eleutério F. S. Prado
Professor titular e sênior da Faculdade de Economia e Administração da Universidade de São Paulo – FEA/USP.
Brazilian Journal of Political Economy, Vol. 37 No. 3 (2017), Jul-Sep / 2017, Pages 478-503


In this article, we examine three important lines of explanation for this historical occurrence that has lasted almost four decades. We discuss perspectives that fit into three labels: neoliberal, new developmentalism and Marxist. However, not only from the scientific focus, but also from the justification and/or the economic-political critique of the existing reality point of view. The dependency in the periphery-center relation, inside the horizon of the possible duration of capitalism, appears as a central question. The economic policy of governments figures as important, but without primacy over the structural evolution of capitalist social relations. The conclusion does not flirt with any form of optimism about progress – on the contrary, it sees the future as very difficult.

JEL Classification: N10; O11; O40.

Keywords: Quasi-stagnational new developmentalism periphery-center relation Brazilian economy neoliberalism Marxism.