Como sair do regime liberal de política econômica e da quase-estagnação desde 1990

Abstract

Brazil has grown extraordinarily between 1930 and 1980 under a regime of developmental economic policy; since 1990, it is quasi-stagnant under a liberal regime. Lula did nothing to change it. Dilma Rousseff tried, in 2011, but soon withdrew. Rentier-financier liberalism is incompatible with growth, because it keeps interest rates very high and the exchange rate overvalued in the long-term, which makes public savings and private investment unfeasible. To come out of quasi-stagnation, five points of a developmental regime: responsible tax rule, moderate interest rates, competitive foreign exchange rates, social agreement, and progressive taxes.