Celso Furtado, the return to the basic controversy.

Vol. 31 No. 2 (2011)

Apr-Jun / 2011
Published April 1, 2011
PDF-Portuguese (Português (Brasil))
PDF-Portuguese (Português (Brasil))

How to Cite

Pedrão, Fernando. 2011. “Celso Furtado, the Return to the Basic Controversy.”. Brazilian Journal of Political Economy 31 (2):249-61. https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/402.

Celso Furtado, the return to the basic controversy.

Fernando Pedrão
Doutor e docente livre (aposentado) da UFBa, presidente do Instituto de Pesquisas Sociais, professor visitante da Universidade Federal do Recôncavo.
Brazilian Journal of Political Economy, Vol. 31 No. 2 (2011), Apr-Jun / 2011, Pages 249-261


A reading of the work of Celso Furtado in its completion opens an enriching view of the interaction between theoretical thinking and the unveiling of Latin-America history. Starting from an appraisal of the pre-Classic and Classic authors, Furtado outlined an approach of surplus theory. That would enable development theory to deal with the unevenly industrialized economies like Brazil. His thorough analysis of development and underdevelopment processes broke away from the initial ECLA experiences to build a planning proposal the uprising country. The French roots of his academic profile helped him to keep an orderly explanation of capital demand that kept him siding with Wicksell against the subjective theory of Schumpeter.

JEL Classification: O11.

Keywords: surplus theory underdevelopment process capital accumulation