{"title":"O governo Rousseff e o populismo econômico: uma interpretação","authors":"I. Salomão, Beliza Borba de Almeida","doi":"10.1590/0101-31572023-3327","DOIUrl":"https://doi.org/10.1590/0101-31572023-3327","url":null,"abstract":"RESUMO O artigo tem por objeto a política econômica do governo Rousseff. Partindo-se dos principais modelos teóricos sobre o fenômeno do populismo econômico, analisam-se as principais medidas de política instrumental (fiscal, monetária e cambial) adotadas no período. Assim, refuta-se a hipótese de que a sua gestão se enquadre no referido conceito como entendido pela literatura.","PeriodicalId":35163,"journal":{"name":"Revista de Economia Politica/Brazilian Journal of Political Economy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41644989","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The effects of infrastructure and public investment on the elasticity of private investment: an empirical investigation for Brazil","authors":"Jefferson S. Fraga, Helder Lara FERREIRA-FILHO","doi":"10.1590/0101-31572023-3383","DOIUrl":"https://doi.org/10.1590/0101-31572023-3383","url":null,"abstract":"ABSTRACT This study estimates the determinants of the elasticities of private investment and total investment for the Brazilian economy for the period between 1960 and 2013. It uses a Bayesian model averaging and weighted-average least-squares approach with a flexible accelerator model of investment equation and Kalman filtering techniques. We conclude that the aggregate infrastructure index (taken from the main component analysis) and public investment crowd-in private investment. The results indicate that private investment is constrained by the availability of bank credit. Furthermore, we find that infrastructure stock and public investment are two of the main determinants of the elasticities of private investment. This demonstrates that public investment, mainly in infrastructure, is of great importance in raising the sensitivity of private investment in the Brazilian economy.","PeriodicalId":35163,"journal":{"name":"Revista de Economia Politica/Brazilian Journal of Political Economy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46578386","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Disassembled structures: the political economy of Mexico’s leading auto export sector","authors":"James M. Cypher, M. Crossa","doi":"10.1590/0101-31572023-3370","DOIUrl":"https://doi.org/10.1590/0101-31572023-3370","url":null,"abstract":"ABSTRACT Mexico’s current export-led economy arose from the adoption of a market-driven model based in conditions of technological disarticulation separating dominant transnational firms from the national industrial base. This determined that, in contrast to Verdoorn’s analysis, the crucial manufacturing sector would function not as a motor-force inducing a process of autonomous national development by accelerating productivity growth and promoting product and process innovations, but rather would deepen a fragmented process of production, centered on processing imported components under conditions of declining total factor productivity. Despite the profound reordering of its economic geography over the past 30 years, this process has failed to produce legitimate markers of “upgrading”.","PeriodicalId":35163,"journal":{"name":"Revista de Economia Politica/Brazilian Journal of Political Economy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45737504","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Exchange rate overvaluation and agrarian ground rent transfers in Uruguay: 1955-2019","authors":"G. Benelli","doi":"10.1590/0101-31572023-3259","DOIUrl":"https://doi.org/10.1590/0101-31572023-3259","url":null,"abstract":"ABSTRACT This paper measures with a novel methodology the amount of agrarian ground rent intersectoral transfers in Uruguay and its relative weight in the national amount of surplus value during the period 1955-2019. In order to this, the paper identifies the mechanisms through which ground rent is transferred from landowners to industrial and commercial capitals. The main results show that agrarian ground rent transfers, in particular through exchange rate overvaluation, was a recurring mechanism that has been central for capital accumulation. These transfers complement the surplus value appropriated by individual capitals, however, at the same time, consolidate the rentier nature of Uruguay due to the chronic overvaluation of exchange rate.","PeriodicalId":35163,"journal":{"name":"Revista de Economia Politica/Brazilian Journal of Political Economy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48148273","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Keynes and Hayek: some common elements in business cycle theory","authors":"Alexandru Pătruți","doi":"10.1590/0101-31572023-3375","DOIUrl":"https://doi.org/10.1590/0101-31572023-3375","url":null,"abstract":"ABSTRACT Keynes and Hayek are usually perceived in the history of economic thought as intellectual rivals. Although it is true that in terms of policy recommendations, they have not always seen eye to eye, there are numerous theoretical elements that the two economists tend to share. This is especially true if one follows Axel Leijonhufvud (1976) in considering that Keynes’s fundamental theoretical work is the Treatise and not the General Theory. In the early 1930s, following the works of Wicksell (1989), both explained business cycles as caused by a discrepancy between savings and investment. They considered that in the modern economy the interest rate cannot speedily adjust these two magnitudes. To a certain extent, Keynes and Hayek even agreed on the dynamic sequence of prices in a “normal” depression. By the time the General Theory came out, liquidity preference obscured most of the commonalities between the two economists. Although Hayek introduced liquidity preference as a short run friction in his 1941 Pure Theory of Capital, he could not accept it as a fundamental determinant of the interest rate. However, in the 1970s Hayek began to believe that “normal” Hayekian crises could further degenerate into Keynesian depressions. By focusing on Keynes’s theoretical development prior to the elaboration of the General Theory in parallel with Hayek’s evolution throughout his life, we argue that a selective reading of their works could lead to a theoretical model in which Keynesian and Hayekian scenarios are specific cases of a more general theory.","PeriodicalId":35163,"journal":{"name":"Revista de Economia Politica/Brazilian Journal of Political Economy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41427361","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Appropriation, beliefs, and inculcation: Some other connections between American Pragmatism and Veblen’s conspicuous consumer","authors":"Felipe Almeida, Manuel Ramon Souza Luz","doi":"10.1590/0101-31572023-3332","DOIUrl":"https://doi.org/10.1590/0101-31572023-3332","url":null,"abstract":"ABSTRACT Thorstein Veblen was a founding father of the original institutional economics. Veblen’s first book, The Theory of the Leisure Class (1899), introduced to economists an interdisciplinary perspective to understand consumers’ decision-making. This perspective relied on the processual nature of instincts, habits, and institutions. Veblen’s ideas on human behavior were not completely original, and it has been widely recognized that some of his insights clearly reference the teachings of the American pragmatic school of philosophy. In light of this, our study offers an interpretation of Veblen’s ideas on consumer behavior through the viewpoints of the main thinkers of the pragmatist school of his time. This study explores some important themes within pragmatism, such as William James’s concept of appropriation, Charles Peirce’s understanding of belief and social impulse, and John Dewey’s ideas on socialization and the inculcation of habits. Based on these references, we seek to generate new insights into Veblen’s perspective on consumers’ decision-making in broader terms and at the same time preserve his main philosophical references.","PeriodicalId":35163,"journal":{"name":"Revista de Economia Politica/Brazilian Journal of Political Economy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49179521","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Brazilian Journal of Political Economy, vol. 42, nº 4, October-December/2022","authors":"","doi":"10.1590/0101-31572023-0001","DOIUrl":"https://doi.org/10.1590/0101-31572023-0001","url":null,"abstract":"","PeriodicalId":35163,"journal":{"name":"Revista de Economia Politica/Brazilian Journal of Political Economy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43516148","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Industrial policy, techno-nationalism and Industry 4.0: China-USA technology war","authors":"A. Diegues, J. Roselino","doi":"10.1590/0101-31572023-3247","DOIUrl":"https://doi.org/10.1590/0101-31572023-3247","url":null,"abstract":"ABSTRACT This paper aims to analyze the evolution of the technology war between China and the USA in a context of exacerbation of techno-nationalist strategies for industrial and technological development. This analysis refers mainly to the Chinese strategy to deploy Industry 4.0 and the implications derived from US imposed restrictions on Chinese efforts to develop indigenous technologies that are central in the forthcoming paradigm. The hypothesis is that such policies, by boosting Industry 4.0, aim to create a new techno-economic paradigm and thus reconfigure the bases of inter-capitalist and interstate competition. The main contribution to the literature is providing an analysis of the implications of the technology war between China and the USA in different layers of the Industry 4.0 techno-economic paradigm, in addition to the mainstream debate about the transition to 5G communication networks.","PeriodicalId":35163,"journal":{"name":"Revista de Economia Politica/Brazilian Journal of Political Economy","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41577010","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"O debate recorrente sobre o fim do trabalho com o desemprego tecnológico","authors":"M. D. L. R. Mollo, R. Acypreste","doi":"10.1590/0101-31572023-3371","DOIUrl":"https://doi.org/10.1590/0101-31572023-3371","url":null,"abstract":"RESUMO O artigo analisa uma questão recorrente sobre a perda de centralidade do trabalho com as inovações tecnológicas e o trabalho imaterial, tanto do ponto de vista teórico quanto empírico. Teoricamente discute a centralidade do trabalho tanto com relação à teoria do valor-trabalho como forma de dominação social no capitalismo, quanto no que se refere aos limites do desemprego tecnológico neste modo de produção. Empiricamente o artigo apresenta dados mundiais e da economia brasileira sobre as principais causas do desemprego, comparando-as com o desemprego tecnológico.","PeriodicalId":35163,"journal":{"name":"Revista de Economia Politica/Brazilian Journal of Political Economy","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41317334","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Financialization, credit rating agencies, and “policy space”: The Brazilian experience","authors":"PEDRO LANGE NETTO MACHADO, LUIZ FERNANDO DE PAULA","doi":"10.1590/0101-31572023-3465","DOIUrl":"https://doi.org/10.1590/0101-31572023-3465","url":null,"abstract":"ABSTRACT This paper analyzes the restrictions imposed by financialization on domestic policy space, especially in emerging economies, in light of the actions of credit rating agencies. The working hypothesis is that these agencies, in their interaction with governments, act to constrain the policy space from their position in the international financial system. Thereby, they operate in favor of the financial markets’ agenda through the issuance of sovereign ratings and at the discursive level. The methodology draws on the case study of Brazil, based on sovereign ratings and reports issued by S&P Global, Moody’s, and Fitch Ratings, which shows that such agencies have a vast repertoire to promote the orthodox neoliberal agenda in the national political and economic process.","PeriodicalId":35163,"journal":{"name":"Revista de Economia Politica/Brazilian Journal of Political Economy","volume":"35 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135659844","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}