1974. The "new development model" begins in Brazil in the late 1960s, and later I called "modelo de subdesenvolvimento industrializado". Contrarily to what Celso Furtado predicted, income concetration benefiting the middle classes was behind the resumption of growth as it made aggregate demand consistent with the production of luxury consumption goods by multinationals. Portuguese and English versions available. This paper elaborates on the 1970 article, "Dividir ou multiplicar: A distribuição da renda e a recuperação da economia brasileira".(Paper: Revista Dados)
(Paper: Desarrollo Economico)
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1973. The "new development model" begins in Brazil in the late 1960s, and later I called "modelo de subdesenvolvimento industrializado". Contrarily to what Celso Furtado predicted, income concetration benefiting the middle classes was behind the resumption of growth as it made aggregate demand consistent with the production of luxury consumption goods by multinationals. Spanish and English versions available. This paper elaborates on the 1970 article, "Dividir ou multiplicar: A distribuição da renda e a recuperação da economia brasileira". (Paper: Revista Dados)
1973. Paper
1970. It corresponds to "Dividir ou multiplicar?" (1970). It claims that the Brazilian "economic miracle" (1968-1973) signaled a new, export oriented, model of development that made consistent aggregate demand and supply of luxury goods by concentrating income from the middle class upwards. (Chapter 7 of Development and Crisis in Brazil: 1930-1983)
1970. My first analysis of the "new development model" that begins in Brazil in the late 1960s. Contrarily to what Furtado predicted, income concetration benefiting the middle classes was behind the resumption of growth as it made aggregate demand consistent with the production of luxury consumption goods by multinationals. "O novo modelo de desenvolvimento" (1973) elaborates on this paper. (Paper: Visão)
1970. Adopting a classical perspective, this paper argues that variations in the expected profit rate and the corresponding shifts of the marginal efficiency of capital curve are more important in explaining investments than variations in the interest rate. I further developed this analysis in "Acumulação de capital, lucros e juros". (Paper: Texto para Discussão)
1970. The reduction of the profit margin will only compensate if sales increase more than proportionally. (Paper: Revista de Administração de Empresas).
1968. The student revolution will transform the capitalist society. It is a middle class, intellectual and utopian revolution. (Essay in Tecnoburocracia e Contestação)
1968 [1976]. A critique of microeconomics, and an analysis of the transition from classical to Keynesian macroeconomics.(Apostila FGV/SP, 42 pages)
1968. ISEB's political model based on the aliance of the national bourgeoisie with the workers and the bureaucrats was correct. Yet, historical new facts led to the collapse of the populist and national-developmentalist pact and to the political crisis of 1961-64. (Chapter 4 of Development and Crisis in Brazil).
1968. Development defined as involving a Industrial and a National Revolution. (Chapter 1 of Development and Crisis in Brazil,1968)
1967. General economic theory does not apply to underdeveloped countries. (Paper: Revista de Administração de Empresas)
1967. An adaptation of Singer's model to middle income countries. (Paper: Revista de Administração de Empresas)
1966. Given the existence of a large middle classe, democracy's restoration is inevitable. In this process, Brazilian industrial entrepreneurs must associate themselves with the new business managers that are emerging and develop a national development strategy that should be democratic and socially progressive. (Paper: Revista de Administração de Empresas)
1964. My 1962 research demonstrated that the Paulista industrialists that led the Brazilian industrialization were, mostly, descendants of middle class immigrants, not from coffee planters. English version available only in this site. (Paper: Revista de Administração de Empresas)
1964. My 1962 research demonstrated that the Paulista industrialists that led the Brazilian industrialization were, mostly, descendants of middle class immigrants, not from coffee planters. ( Published Portuguese version available. (Paper: this English version only published here)
1964. With Sylvio Luiz Bresser-Pereira. The indexation or monetary correction of financial statements. A proposal. See also 1976 article. (Paper: Revista de Administração de Empresas)
1964. An large picture of the Brazilian agriculture in the early 1960s.(Paper: Journal of Inter-American Studies)