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The silly boy (Folha, 18.7.2010)
2010. Only a fool hands over to foreign companies public utilities, such as landline and mobile telephone services (Article: Folha de S.Paulo, 18.7.2010.
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The two prices of the euro (Folha, 4.7.2010)
2010. The idea that it is too soon to start the adjustment makes sense for the United States, Great Britain, and Germany not for the rest of Europe (Article: Folha).
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Goodbye to turkey, or to good versus evil? (Folha, 20.6.10)
2010. United States see the world as divided between friends and enemies, between good and evil, and less credit. (Article: Folha de S.Paulo
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Greek debt: default or restructuring (Valor, 18.6.10)
There is no reason for the world to plunge once again into crisis.
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Globalization and Competition
2010. Why some middle income countries catch up while others do not. Behind new developmentalism this book drafts a structuralist development macroeconomics in which the exchange rate plays a strategic role. (Book: Cambridge University Press).
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Why inequality does not fall?
2010. Economic constraints are not the only cause for economic inequality remaining so high in the world. (Short article to be published in Peace Review)
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The inequality curse: constraints and political discretion
2010.
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Speculation against the Euro (Folha, 15.2.10)
2010. This speculative attack is another evidence of the need to strictly regulate the banks and hedge funds. (Article: Folha de S.Paulo).
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Why do orthodox make so many mistakes? (Folha, 8.2.10)
2010. Because they adopt scientific methods as mathematics to justify the laissez faire, the origin of countless crises. (Article: Folha de S. Paulo, February 08, 2010)
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Conference in India (Folha, 1.2.10)
Two subjects dominated the debates: the regulation and how developing countries should finance their development. (Article: Folha de S.Paulo).
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Lula's masses like order (Folha, 4.1.10)
2009. During the first four years of his administration, Lula enjoyed the support of these popular masses that, since Collors election, were systematically voting for the right-wing candidate (Folha de S.Paulo).
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The "matuto" and the magic moment (Folha, 16.11.09)
2009. Does Lula realize it as well? And – what is more important – are Brazilians also aware of the losses they are suffering when they welcome foreign interests so well. Folha de S. Paulo, November 16, 2009
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From old to new developmentalism in Latin America
2009. New developmentalism is an alternative strategy to conventional orthodoxy and to old national developmentalism. It argues for the neutralization of the tendency of the exchange rate to appreciate and for fiscal responsibility.(Paper)
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The 2008 financial crisis and neoclassical economics
2010. The 2008 financial crisis was caused by the deregulation promoted by neoliberal and financialized capitalism with the support of neoclassical economics. (Paper: Revista de Economia Política)
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Developing Brazil - Overcoming the Failure of the Washington Consensus
2009. An encompassing analysis of the Brazilian macroeconomic system. The failure of the Washington consensus or of conventional orthodoxy in making Brazil to catch up after the 1994 Real Plan stabilized high and inertial inflation. (This book is an atualized version of Macroeconomia da Estagnação)
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Common currency and economic integration in Mercosur
2010. With Marcio Holland. Latin America integration, particularly Mercorsul, would be strengthened if there was a common currency. We should work on this direction. (Paper : Journal of Post Keynesian Economics.
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The global financial crisis and a new capitalism?
2009. The 2008 financial crisis was caused by the deregulation promoted by neoliberal and financialized capitalism with the support of neoclassical economics. (Paper: to be published in edited book)
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Euclides da Cunha and national identity (Folha, 31.8.09)
2009. In this decade we are beginning to react, to think in terms of the great country we are. (Article: Folha de S.Paulo).
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Let us leave Obama in peace (Folha, 24.8.09)
2009. This is the best way to promote the regions common interests with the United States. (Article: Folha de S.Paulo).
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It is the exchange rate, Mr. President (Folha, 17.8.09)
2009. Brazil will only achieve high growth rates when it managed its exchange rate. (Article: Folha de S.Paulo).
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High-speed train and direct investment (Folha, 10.8.09)
2009. It is not of benefit to Brazil to offer our domestic market to rich countries for free. A countrys domestic market is its most precious asset. (Article: Folha de S. Paulo)
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War or agreement? (Folha, 3.8.09)
2009. The Islamic people discovered that religion can be a major instrument to transform a people into a nation. (Article: Folha de S. Paulo)
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Why did democracy become consolidated only in the twentieth century?
2009. Only in early twentieth century, after a liberal transition, the capitalist class accepts democracy. The author searches for the new historical fact that led to this preference change, and founds it in the capitalist revolution . Presented at ABCPs Congress, July 2002, revised in July 2009.(Paper)
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Immigration and nationalism (Folha, 27.7.09)
2009. The immigrants have no alternative but to fight in order to see their right to multiculturalism respected in the new country. (Article: Folha de S. Paulo).
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A BRIC “at the top of the world” (Folha, 20.7.09)
2009. Brazil is the example that everyone should follow, but as a good provincial, I am wary of so much praise for our country. (Article: Folha de S.Paulo).
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Regulation in the interest of banks (Folha, 13.7.09)
2009. The banks forget that it was the deregulation of the 1980s that took the world economy to this immense crisis. (Article: Folha de S.Paulo |
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Economics and the assault on the market
2009. Neliberalism did not attack just the state but also markets, since they depend on state regulation. Neoclassical economics was the meta-ideology offering "scientific" support to neoliberalism.
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Regime and government in Iran (Folha, 29.6.09)
2009. Re-elected despite having done a bad administration, Ahmadinejad is the one that presents a threat to the regime, not the defeated candidate. (Article: Folha de S.Paulo).
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State of affairs (Folha, 22.6.09)
2009. No one can guarantee that the adopted policies will suffice to get the world economy out of the crisis. (Article: Folha de S.Paulo).
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Small euphoria, poor Brazil (Folha, 8.6.09)
2009. Tied to the neoliberal principles of financial liberalization, our government passively watches the return of the exchange rate overvaluation. (Article: Folha de S.Paulo).
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From the national-bourgeois to the associated dependency interpretation of Latin America
2009. Over-exploitation as well as associated dependency interpretations denied the possibity of national bourgeoisies in the region and contributed to weakening Latin American nations. Only a third version of dependency - the national-dependent interpretation - escaped this fate. French version available. (Paper to be published in Latin American Perspectives).
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The left and the crisis (Folha, 1.6.09)
2009. The Left is not benefiting from the crisis because, when it held power, it made many concessions to neoliberalism. (Article: Folha de S.Paulo).
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Why not limit capital inflows? (Folha, 25.5.09)
2009. Because this policy goes against the neoliberal fundamentalist principles that the economists learned in their schools. (Article: Folha de S.Paulo).
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Closed lists (Folha, 18.5.09)
2009. The closed lists make the political profession safer, and therefore it will be able to attract better candidates. (Article: Folha de S.Paulo).
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Savings account (Folha, 11.5.09)
2009. We are now faced with the idea of this strange and perverse alliance between major rent-seekers and the middle class of small savers. (Article: Folha de S.Paulo).
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Democracy and Public Management Reform: Building the Republican State
2004. The formation of the democratic and republican states, and the theory of public management reform: a model aiming at increasing state capacity. (Book: Oxford University Press) In Portuguese: Construindo o Estado Republicano.
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The end of the Thatcher era (Folha, 4.5.09)
2009. The crisis of neoliberal capitalism is much more severe than the crisis of the social state and of technobureaucratic capitalism. (Article: Folha de S.Paulo).
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Why did financial globalization fail? (Folha, 27.4.09)
2009. Because it engenders balance-of-payment crises with serious consequences for the countrys growth rates. (Article: Folha de S.Paulo)
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Summit of the Americas (Folha, 20.4.09)
2009. The geographical concept of America is naturally true, but, besides it, what does America mean? (Article: Folha de S.Paulo)
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Morality and crisis (Estadão, 22.3.09)
2009. The crisis capitalism now faces is economic, but its causes are political and moral as well. Both teach the "invisible hand" thesis and reject the existence of the public interest. (Article: O Estado de S.Paulo)
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The tendency to the over-appreciation of the exchange rate.
2008. In developing countries there is the tendency to the overvaluation of the exchange rate. If countries do not neutralize it, they will experiment slow growth, and catching up will not happen. (Chapter 4 of book to be published, Globalization and Competition). Spanish version and Portuguese version available.
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Tasks in building a New Bretton Woods (Website, 10.11.08)
2008. To avoid new global financial crisis it would be necessary to convene among nations a maximum current account deficit in relation to GDP that would be allowed to countries. (Article just published here)
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The Dutch disease and its neutralization: a Ricardian approach
2008. A country suffering from the Dutch disease has two "equilibrium" exchange rates: the "current equilibrium" that is inconsistent with economic growth, and the"industrial equilibrium" that will be achieved if the country is able to neutralize the disease. (Paper: Brazilian Journal of Political Economy)
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The political economy of global economic disgovernance
2005. There is no financial order in the world. The the enormous US current account deficit in the US points out to a hard landing. Portuguese version available.(Texto para Discussão EESP 151)
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Foreign savings, insufficiency of demand, and low growth
2008. With Paulo Gala. An overvalued currency is a central cause of insufficiency of demand. The growth with foreign savings policy appreciates local currencies, increases domestic consumption, and causes domestic saving to be replaced by foreign savings. (Paper Journal of Post Keynesian Economics).
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Globalization, nation-state and catching up
2008. In globalization, although nation-states are more interdependent, they are also more strategic. A econometric study confirms that. (Paper published in the Brazilian Journal of Political Economy)
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Inflation targeting in Brazil: A Keynesian approach
2007. With Cleomar Gomes. The paper claimsthat inflation targeting policy was adopted in Brazil before the interest rate trap was faced and solved. This was a mistake because inflation targeting is good to manage monetary policy, not to change the monetary regime as it was in 1999 and still is necessary in Brazil. (Paper in edited book). Portuguese version available.
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Growth and distribution: a revised classical model
2008. A classical model of growth with three types of technical progress, derived from the book Lucro, Acumulação e Crise. (To be published)
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The two methods and the hard core of economics
2008. Neoclassical economists use the hipothetical deductive method, but an empirical-deductive method, particularly the new historical facts approach, is a a more advisable aternative. (Paper: Journal of Post Keynesian Economics). Portuguese version available.
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The key institution to economic growth
2008. Economic growth is the outcome of a national strategy of development. The characteristics and main tensions involved in these national strategies discussed. Improved English version of a paper previously published in Portuguese.
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Macroeconomics of stagnation and new developmentalism in Latin America
2007.Paper comparing three growth strategies: old or national-developmentalism, new developmentalism, and Washingtons conventional orthodoxy - actually a form of neutralizing the catching up of medium income countries. Slightly improved version in relation to "New developmentalism and conventional orthodoxy". (Paper in the book Keynes for the Twentieth Century)
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The political economy of trade, finance, and the exchange rate
2007. Trade cannot be de-linked from finance because the exchange rate represents a major intersection between the two field. Yet, the exchange rate is forgotten in international trade and in economic growth courses, and in trade negotiations at WTO. Countries that have reserve currencies abhor taking on the exchange rate (Intervention at UNCTAD seminar)
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Chained cycles of society and the state in Brazil
2007. Brazilian society underwent two cycles in the twentieth century, followed, with a gap, by the respective political coalition. Between the beginning of the century and 1964, the first society cycle, “Nação e Desenvolvimento”, corresponded at state level by the National-Developmentalist political pact (1930-1984). The second , “Democracia e Justiça Social”, begins in the late 1960s and gets exhausted in middle 2000s. It correspond to two political coalitions: first, between 1977 and 1987, the 1977 Popular-Democratic Pact, that achieves democratic transition and political power in 1985 but collapses two years later it follows a political vacuum and, from 1991 to the present, we have the Liberal-Dependent Pact precariously combined with the democratic and social ideas - and no real economic development. (Section of the book Macroeconomia da Estagnação)
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Public bureaucracy and ruling classes in Brazil
2007. The brazilian state bureaucracy was part of the ruling class in association with the industrial bourgeoisie between the 1930s and the 1980s. Portuguese version available. paper Revista de Sociologia e Política.
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The structural public governance model
2007. This paper summarizes my model of public management reform, and shows that, depending on the form it is applied, it may be progressive instead of neo-liberal. Portuguese version available.(Paper: International Public Management Review). Spanish version(Paper: Revista del CLAD Reforma y Democracia).
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The new developmentalism and conventional orthodoxy
2006. Paper comparing three growth strategies old or national-developmentalism, new developmentalism, and Washingtons conventional orthodoxy - actually a form of neutralizing the catching up of medium income countries. An improved version available with the title “Macroeconomics of stagnation and new developmentalism“.(Paper Iberoamericana).
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Why foreign savings fail to cause growth
2007. With Paulo Gala. A formalization of the critique of the strategy of growth with foreign savings: the consequent exchange rate appreciation increases artificially wages and causes the substitution of domestic with foreign savings. Portuguese and Spanish versions available.(Paper to be published in book)
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Global intellectual property rights: arguments or power?
2006. Survey of Ugo Paganos "Positional goods and asymmetric development". (Note: Econômica).
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The substitution of foreign for domestic savings and its inverse: the Brazilian case
2006. The rate of substitution of foreign for domestic savings was high in Brazil in the period 1994-99, as the inverse rate was also high in the 2000-05 period. The critique of growth with foreign savings applied to Brazil. (Unpublished paper)
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Exchange rate: fix, float, or manage it?
2006. The exchange rate determines not only exports and imports, but also real wages, consumption and the savings rate. (Preface to book edited by Mathias Vernengo)
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