The Growth Model of the PT Governments: A Furtadian View of the Limits of Recent Brazilian Development

Evaluation of the growth model of the PT governments based on the contributions of Celso Furtado reveals that the recent growth cycle has alleviated the typical characteristics of underdevelopment by developing a mass consumption market and improving labor market conditions. However, the limitations...

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Bibliographic Details
Published in:Latin American perspectives 2020-01, Vol.47 (1), p.100-114
Main Authors: Rossi, Pedro, Mello, Guilherme, Bastos, Pedro Paulo Zahluth
Format: Article
Language:English
Subjects:
Capitalism
Commodities
Consumption
Economic underdevelopment
Exports
Foreign subsidiaries
Global economy
Growth models
Labor market
Markets
Modernization
Neoliberalism
Productivity
Specialization
Subsidiaries
Vulnerability
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Summary:Evaluation of the growth model of the PT governments based on the contributions of Celso Furtado reveals that the recent growth cycle has alleviated the typical characteristics of underdevelopment by developing a mass consumption market and improving labor market conditions. However, the limitations of the model prevented modernizing the structure of production to sustain changes on the demand side, including labor in sectors with higher productivity, limiting the control of foreign subsidiaries, and reducing the structural vulnerability inherent in specialization in basic commodities exports. The limits of the model were aggravated by the crisis of 2008–2009, revealing the difficulty of incorporating a peripheral economy like the Brazilian into global capitalism. Uma avaliação do modelo de crescimento dos governos do PT a partir da contribuição de Celso Furtado revela que o ciclo de crescimento recente amenizou características típicas do subdesenvolvimento ao desenvolver um mercado de consumo de massa no Brasil e ao melhorar as condições no mercado de trabalho. No entanto, as limitações do modelo não permitiram modernizar a estrutura produtiva de forma a sustentar as transformações do lado da demanda, incluir a mão de obra em setores de maior produtividade, limitar o controle das filiais estrangeiras, e diminuir a vulnerabilidade estrutural inerente à especialização em exportações de commodities básicas. Os limites do modelo de desenvolvimento adotado se agravaram após a crise de 2008–2009, revelando as dificuldades de inserção de uma economia periférica como a brasileira no capitalismo global.
ISSN:0094-582X
1552-678X
DOI:10.1177/0094582X19891700