The Rate of Surplus Value in Brazil, 1996–2016

Abstract

This paper estimates the Brazilian economy’s rate of surplus value as well as its underlying determinants, i.e., wage rate and labor productivity between 1996 and 2016. In addition, it builds a theoretical narrative of the Brazilian economy that integrates its political successions, highlighting the governments of Fernando Henrique Cardoso (1995–2002), Luiz Inácio Lula da Silva (2003–2010), Dilma Rousseff (2011–August 2016), and the parliamentary coup d’état (December 2015–August 2016). The findings are presented based on the classical political economy tradition, which sees capital-labor struggle as a key, albeit nonexclusive, condition that frames the economic, political, and ideological disputes of society. JEL Classification: B51, E25, N16