The myth of Vargas’ economic populism

Vol. 31 No. 1 (2011)

Jan-Mar / 2011
Published January 1, 2011
PDF-Portuguese (Português (Brasil))
PDF-Portuguese (Português (Brasil))

How to Cite

Fonseca, Pedro Cezar Dutra. 2011. “The Myth of Vargas’ Economic Populism”. Brazilian Journal of Political Economy 31 (1):56-76.

The myth of Vargas’ economic populism

Pedro Cezar Dutra Fonseca
Professor titular do Departamento de Ciências Econômicas da Universidade Federal do Rio Grande do Sul — UFRGS e pesquisador do CNPq
Brazilian Journal of Political Economy, Vol. 31 No. 1 (2011), Jan-Mar / 2011, Pages 56-76


The Second Vargas Administration in Brazil (1951-1954) is commonly associated with the phenomenon of populism. However, based on the models of economic populism, it is clear that the economic policy of the period is not the one shown by those models. Besides, based on this historic experience, it is advocated that there is no incompatibility between developmentalism and the adoption of macroeconomic stability-oriented measures.

JEL Classification: N16; P48.

Keywords: Brazilian economy Vargas economic populism developmentalism