2011. The core of neoclassical economics (general equilibrium and rational expectations macroeconomics) is demoralized. A Keynesian-structuralist alternative is available. What is necessary to do to become mainstream again. Portuguese version available. Also available a Slide presentation.
OTHER LANGUAGES
WORKS IN ENGLISH
2012. Paper presented to the annual meeting of the Association for Evolutionary Economics (AFEE), receiving the James Street Scholar for 2012. Chicago, January 7, 2012. (Journal of Economic Issues).
2011. My more complete paper on new developmentalism. In José Antonio Ocampo and Jaime Ros, eds. Handbook of Latin America Economics, Oxford: Oxford University Press. (Paper). Portuguese version available.
2010. The 2008 financial crisis signaled the end of 30 Neoliberal Years of Capitalism. It was caused by the deregulation promoted by the neoliberal ideology justified "scientifically" by neoclassical economics. Paper (Revue de la Régulation).
2010. Democratization is the improvement of the quality of democracy. Besides reduction of political inequality, it requires reduction of economic inequality. (Paper for the Festschrift of José Maria Maravall).
2010. Economic constraints are not the only cause for economic inequality remaining so high in the world. (Short article: Peace Review)
2010. The public management reform was required by the rise of the social or welfare state, and proved instrumental in legitimizing it in so far as it makes social and scientific services provided by the state efficient. Portuguese version available. (Article: Revista de Administração de Empresas)
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)
2009. The 2008 financial crisis was caused by the deregulation promoted by neoliberal and financialized capitalism with the support of neoclassical economics. (Paper: Journal of Post Keynesian Economics)
2009. Neoliberalism and its "scientific" justification, neoclassical economics, were more than just an assault on the state it was also an assault to the market. (Essay: Estudos Avançados). A slightly modified version, "Economics: an assault on the state", has been published in Challenge, 53 (5), September 2010: 57-77.
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.
2009. Over-exploitation as well as associated dependency interpretations denied the possibility 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. Published in English in Latin American Perspectives 178, vol. 38 (3) May 2011Portuguese and French versions available. (Paper: Latin American Perspectives).
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 in this website)
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)
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)
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.
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.
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)
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)