Vol. 1 No. 4 (1981): Oct-Dec / 1981


Vol. 1 No. 4 (1981)

Oct-Dec / 1981
Published October 1, 1981

Article


The history of Brazilian duality
Ignacio Rangel
Brazilian Journal of Political Economy
https://doi.org/10.1590/0101-31571981-4005

By the time of the discovery of America, Europe was still amid the transition between
Feudalism and Capitalism. This paper focus on the many dichotomies the Brazilian
economy underwent after the interaction between feudal and capitalist structures.

JEL Classification: P51; P10; N46.


External imbalances in the Brazilian economy
Dércio Garcia Munhoz
Brazilian Journal of Political Economy
https://doi.org/10.1590/0101-31571981-4035

Brazil emerged from the 1970s with growing exports and imports without major
commercial disequilibria and expansion of international reserves. With the oil shock of
1974, this came to an end with commercial deficits. This paper discusses the dynamics of the
external commercial relations of Brazil and alternatives to deal with the debt crisis.

JEL Classification: F14; F41; O24.


Brazilian external debt: problem and perspective
Hans-Bernd Schäfer
Brazilian Journal of Political Economy
https://doi.org/10.1590/0101-31571981-4053

Brazil’s foreign debt reached such a position that it is hard to prospect a solution.
This article traces back the origins of this debt and analyzes the main dangers to the solution
of the crisis, namely, protectionism, short-term lending, and consumerism in indebted
countries.

JEL Classification: F14; F41; O24.

Painel de Conjuntura


Criticism of the orthodox prescription
José Serra
Brazilian Journal of Political Economy
https://doi.org/10.1590/0101-31571981-4071

1980 could be considered as the end of the growth phase that came after the
Brazilian economic “miracle”. High inflation, crisis in the balance of payments and a challenging
international scenario point to a difficult path for Brazil. This article presents some
analyses of the current scenario, of the government policy responses and what are the prospects
for the future whilst criticizing the orthodox responses.

JEL Classification: E31; O11; E60.


The political functionality of recession
João Sayad
Brazilian Journal of Political Economy
https://doi.org/10.1590/0101-31571981-4087

The dismal situation the Brazilian economy faces with high unemployment and
sluggish growth is foremost a result of the government’s policy of recession. This note reflects
the government plans, with special attention to the income distribution effects of inflation.

JEL Classification: E31; O11; E60; E51.


Alternatives to recessive “non-policy”
Dércio Garcia Munhoz
Brazilian Journal of Political Economy
https://doi.org/10.1590/0101-31571981-4095

The Brazilian economy has been registering high levels of unemployment and
output decrease. This is the result of bad policy decisions. This note discusses government responses
from a critical perspective.

JEL Classification: E31; O11; E60; E51.

Notes and Comments


Macroeconomic analysis: a methodological introduction
Edmar Lisboa Bacha
Brazilian Journal of Political Economy
https://doi.org/10.1590/0101-31571981-4103

The author will release soon a new book “Análise Macroecônomica: Uma
Perspectiva Brasileira” focusing on the macroeconomic analysis of semi-industrialized economies,
such as the Brazilian one. This note reflects the methodological options used in the
writing of the book.

JEL Classification: A20; Y30; E00; E60.


The controversy of effective demand: the displacement of the issue
Antonio Barros de Castro
Brazilian Journal of Political Economy
https://doi.org/10.1590/0101-31571981-4110

This comment is a reply to the response of Belluzzo and Tavares to the author’s
article published in previous number of this journal. It goes back to the critical point of insufficiency
of effective demand.

JEL Classification: Y30; E12; E13; E10.


Inflation, external imbalance and wages
Luiz Carlos Bresser-Pereira, Yoshiaki Nakano
Brazilian Journal of Political Economy
https://doi.org/10.1590/0101-31571981-4116

This is a response to Adroaldo Moura da Silva’s article “Inflação: reflexões à
margem de experiência brasileira” published in this journal. Our view is that the author’s
proposition needs to be amended, with special attention to the real causes of inflation and
present an alternative solution to the inflationary process in Brazil.

JEL Classification: E31; E51; E52.


Inflation: critical notes for the debate
Luciano Galvão Coutinho, Paulo Renato Souza
Brazilian Journal of Political Economy
https://doi.org/10.1590/0101-31571981-4127

This is a response to Adroaldo Moura da Silva’s article “Inflação: reflexões à
margem de experiência brasileira” published in this journal, with special attention to the author’s
eclectic methodological point of view and the polemic about the need to cut internal
demand.

JEL Classification: E31; E51; E52.


Inflation: reflections on the margins of the Brazilian experience (response to critics)
Adroaldo Moura da Silva
Brazilian Journal of Political Economy
https://doi.org/10.1590/0101-31571981-4146

This is a response to both Bresser-Pereira and Nakano, and Coutinho and Souza
criticism to the author’s piece “Inflação: reflexões à margem de experiência brasileira”. The
author keeps its initial position while responding to the main points of the other authors’
commentaries.

JEL Classification: E31; E51; E52.