Abstract

Today the indebtment level is raised and the responsibility of this situation
doesn’t fall back on the International Monetary Fund or the banks. The indebtment has origin
in the functioning of accumulation regimes and in the economic policy followed in the
70’s. The modification of the world economic situation, the crossing of an indebtment international
economy with liquidity to an economy without liquidity contributed so much to
the debt become autonomous in relation to the productive system. The dollarization of economies
and liabilities of public enterprises, the fall of real wages, the increasing impoverishment
of new stratums of population, the aggravation of alimentary misery in the cities, constitute
the consequences of this indebtment.

JEL Classification: F34; O15.