1. LA DÉSINDUSTRIALISATION BRÉSILIENNE: UNE LECTURE MARXISTE.
- Author
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Gaulard, Mylène
- Subjects
- *
DEINDUSTRIALIZATION , *FINANCE , *FINANCIAL crises , *MARXIST philosophy ,ECONOMIC conditions in Brazil - Abstract
The financialization of the Brazilian economy is often criticized as being responsible for the slowdown of capital accumulation. Indeed, very high interest rates foster investors to get more Treasury bonds rather than investing in the productive area. Nevertheless, the end of the "Economic Miracle" and the crisis of the 1980s can be analysed as consequences of the falling rate of profit in industry. Nowadays, this evolution explains a great part of the orientation of investors towards finance. Financialization is studied here as a consequence, and not as a cause, of the difficulties encountered in the productive apparatus. [ABSTRACT FROM AUTHOR]
- Published
- 2010