{"title":"Currency Crisis or Overproduction? A Marxian Analysis of the Exchange Rate Peg Collapse in Brazil","authors":"Antonio Carneiro de Almeida Júnior","doi":"10.1177/04866134231167627","DOIUrl":null,"url":null,"abstract":"We revisit the recent past of the Brazilian economy in an attempt to present an alternative characterization of the nature of the late 1990s crisis. The theoretical basis of this analysis is Marxian political economy. This choice is justified by the contraposition between the Marxian theory of overproduction cyclical crisis and the most popular currency crisis theories, revealing that while the latter focus on the phenomenon’s appearance, the former analyzes it in depth. The analysis of capital accumulation during Brazil’s Real Plan shows that the examined crisis can be characterized as another manifestation of the aforementioned phenomenon: the overproduction cyclical crisis. JEL Classification: B51, E32, N16","PeriodicalId":46719,"journal":{"name":"Review of Radical Political Economics","volume":"125 1","pages":"466 - 489"},"PeriodicalIF":1.0000,"publicationDate":"2023-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"1","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Review of Radical Political Economics","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1177/04866134231167627","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 1
Abstract
We revisit the recent past of the Brazilian economy in an attempt to present an alternative characterization of the nature of the late 1990s crisis. The theoretical basis of this analysis is Marxian political economy. This choice is justified by the contraposition between the Marxian theory of overproduction cyclical crisis and the most popular currency crisis theories, revealing that while the latter focus on the phenomenon’s appearance, the former analyzes it in depth. The analysis of capital accumulation during Brazil’s Real Plan shows that the examined crisis can be characterized as another manifestation of the aforementioned phenomenon: the overproduction cyclical crisis. JEL Classification: B51, E32, N16
期刊介绍：
The Review of Radical Political Economics (RRPE) promotes critical inquiry into all areas of economic, social, and political reality. As the journal of the Union for Radical Political Economics, RRPE publishes innovative research in political economy broadly defined including, but not confined to, Marxian economies, post-Keynesian economics, Sraffian economics, feminist economics, and radical institutional economics. We are actively seeking submissions concerned with policy, history of thought, and economics and the environment. RRPE reflects an interdisciplinary approach to the study, development, and application of radical political economic analysis to social problems.
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