This paper aims to analyze the roots of the sovereign debt crisis around the Eurozone countries. Furthermore, it seeks to deconstruct the orthodox argument which states the crisis is caused by fiscal indiscipline of some of its members. In doing so, the article bears on the political economy tradition, integrating the elements of hierarchy and asymmetry among the various actors, and poses the hypothesis that the crisis in the Eurozone is due to three highly correlated causes: (1) the unfolding of the 2007 crisis that originated in the United States, (2) the financialization of the global economy, and (3) the intra-Eurozone imbalances, a legacy of the neoliberal institutional framework of the last decades. To associate the Euro crisis with this neoliberal architecture, moreover, the main tendencies of contemporary capitalism are described, pointing to the theoretical contribution of Marx, particularly regarding his hypothesis of a tendential fall of the profit rate. Finally, some concluding remarks are considered, stressing alternatives to the budget austerity measures and to the necessary ruptures with this neoliberal institutional framework. JEL Classification: B51; P16; H63; N14

This article presents a set of comparative data related to racial inequality in the United States and Brazil throughout the twenty-first century. Within the limitations of available data, we highlight four limited but important dimensions, that is, demography, education, the labor market, and earnings that illustrate racial inequality in both countries. In doing so, we aim to investigate and critically update Andrews’s work (1992) on the last three decades with available data. Despite some improvements in absolute terms related to racial inequities, we show that in both Brazil and the United States, economic growth periods do not necessarily mean that income among blacks is catching up with that of whites. Similarly, in both countries, economic crisis and recovery phases are experienced differently depending on the individual’s race. JEL Classification: D31, D63, J7, J15

No abstract

This article analyzes the role of inheritance and donation on the distribution of wealth and income in Brazil and the state of Rio Grande do Sul. Although several scholars coming from branches of Social Sciences have already scrutinized the influence that slavery and colonial exploitation had - and still have - in the Brazil’s development, no work in the economic literature has thus far attempted to estimate Brazil’s current inheritance stock in monetary terms. With this in mind, this paper has three specific goals: i) to estimate, in accordance with an original framework, the inheritance stock of Brazil (and Rio Grande do Sul) and their flow with respect to national income and household disposable income; ii) to measure potential revenue through the application of a more progressive taxation of inheritance and donations based on inheritance stock estimates and iii) to simulate the distributional effect of reallocating these new fiscal resources. It is important to note, however, that the simulations presented in this paper are static exercises, and do not intend to capture general equilibrium or behavioral effects.

O presente artigo procura analisar a questão da extrema concentração de renda no Brasil como empecilho constitutivo ao desenvolvimento humano. Em particular, pretende-se demonstrar que existe certa incompatibilidade entre o nível de pobreza do país e o seu respectivo grau de desenvolvimento. A conseqüência deste fato remete ao caráter político de nossa desigualdade econômica, já que o problema se localiza muito mais na má distribuição dos recursos disponíveis no país do que em sua escassez. Por fim, tenta-se desvendar os canais que reproduzem a desigualdade econômica no Brasil de hoje.