2012
DOI: 10.1177/0896920512458598
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The Class Character of Macroeconomic Policies in Brazil of the Real

Abstract: In this paper, I discuss ways in which several important fiscal and monetary policies implemented in Brazil after the Real Plan interfered with class relations and how they reveal the financial class character of the state. The fiscal policies analyzed are the release of federal tax revenue entitlements, the so-called fiscal responsibility, and the goals for the primary and nominal fiscal results. In the realm of monetary policy, the analysis focuses on the priority given to inflation control and inflation tar… Show more

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Cited by 8 publications
(5 citation statements)
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References 23 publications
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“…Crises, of course, are not only of a financial nature, but the main examples that Harvey draws on are finance-related. In addition, current state redistributions are made in response to class demands developed in the context of financialization (Bin, 2014;). Harvey's own words suggest several overlaps, as when he says that financialization involves redistribution; that state redistributions involve privatization; and that management of crises involves national debt, which is a device for redistribution through the tax-funded interest paid to the state's creditors.…”
Section: So-called Ongoing Primitive Accumulationmentioning
confidence: 99%
“…Crises, of course, are not only of a financial nature, but the main examples that Harvey draws on are finance-related. In addition, current state redistributions are made in response to class demands developed in the context of financialization (Bin, 2014;). Harvey's own words suggest several overlaps, as when he says that financialization involves redistribution; that state redistributions involve privatization; and that management of crises involves national debt, which is a device for redistribution through the tax-funded interest paid to the state's creditors.…”
Section: So-called Ongoing Primitive Accumulationmentioning
confidence: 99%
“…A ação de Dantas no campo financeiro e suas relações com o Estado -este foi o principal suporte político da expansão financeira da economia brasileira (Bin, 2014) -são protótipos locais de um fenômeno que vem se desenvolvendo globalmente desde meados dos anos 1970. Por estas razões, a figura de Dantas acaba sendo "uma espécie de tipo-ideal de postura financeira" (Grün 2007b: 92), mas que é, ao mesmo tempo, "inexplicável sem o registro do sistema financeiro que vicejou na era FHC" (Grün, 2007a: 390) e permaneceu forte durante os governos Lula.…”
Section: Estudo Sociológico De Biografiaunclassified
“…This system was complemented with the institution of the primary fiscal surplus, whose goals have explicitly been set in budgetary laws since the early 2000s. Since this surplus is the difference between non-financial revenues and non-financial expenditures, its very existence provides a budgetary provision to pay interest on public debt (Bin 2014).…”
Section: Public Debt Taxation and Redistribution Of Surplusesmentioning
confidence: 99%