Crisis and reconfiguration: economic and political changes in the Brazilian accumulation regime in the XXI century
The main objective of this work is to demonstrate that Brazil has experienced, since the end of 2016, a reconfiguration of the financial and extractive accumulation regime and a change in the ruling power bloc. Based on the Regulation Theory, an analysis of the Brazilian economy is carried out to un...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Association Recherche & Régulation
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| Series: | Revue de la Régulation |
| Subjects: | |
| Online Access: | https://journals.openedition.org/regulation/21700 |
| _version_ | 1797314962514771968 |
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| author | Marcelo Soares Bandeira de Mello Filho Diogo Oliveira Santos |
| author_facet | Marcelo Soares Bandeira de Mello Filho Diogo Oliveira Santos |
| author_sort | Marcelo Soares Bandeira de Mello Filho |
| collection | DOAJ |
| description | The main objective of this work is to demonstrate that Brazil has experienced, since the end of 2016, a reconfiguration of the financial and extractive accumulation regime and a change in the ruling power bloc. Based on the Regulation Theory, an analysis of the Brazilian economy is carried out to understand the current transformations. The recent liberal reforms are assessed to demonstrate how they imply an accumulation regime reconfiguration, affecting institutional forms and consolidating the power bloc hegemonized by the agrarian and financial bourgeoisie. Among other effects, these reforms deepen State subordination to the monetary and financial regime, expand the control of the bourgeoisie over the wage relation and reinforce the commodity-exporting sector. It is concluded that the ongoing reconfiguration increases the country’s dependence on international economic and financial cycles because it takes necessary instruments of economic intervention away from the State. Moreover, it reduces internal control over the competition with foreign companies in the national territory, reinforces the commodity-exporting sector and makes mass consumption more pro-cyclical. This reconfiguration implies a partial reversal in the internalization of the dynamic centre of Brazilian capitalism that occurred during the import substitution industrialization process. |
| first_indexed | 2024-03-08T02:54:19Z |
| format | Article |
| id | doaj.art-a42fa0e2c92e4bdb99f3e6412557703c |
| institution | Directory Open Access Journal |
| issn | 1957-7796 |
| language | English |
| last_indexed | 2024-03-08T02:54:19Z |
| publisher | Association Recherche & Régulation |
| record_format | Article |
| series | Revue de la Régulation |
| spelling | doaj.art-a42fa0e2c92e4bdb99f3e6412557703c2024-02-13T13:02:22ZengAssociation Recherche & RégulationRevue de la Régulation1957-779633210.4000/regulation.21700Crisis and reconfiguration: economic and political changes in the Brazilian accumulation regime in the XXI centuryMarcelo Soares Bandeira de Mello FilhoDiogo Oliveira SantosThe main objective of this work is to demonstrate that Brazil has experienced, since the end of 2016, a reconfiguration of the financial and extractive accumulation regime and a change in the ruling power bloc. Based on the Regulation Theory, an analysis of the Brazilian economy is carried out to understand the current transformations. The recent liberal reforms are assessed to demonstrate how they imply an accumulation regime reconfiguration, affecting institutional forms and consolidating the power bloc hegemonized by the agrarian and financial bourgeoisie. Among other effects, these reforms deepen State subordination to the monetary and financial regime, expand the control of the bourgeoisie over the wage relation and reinforce the commodity-exporting sector. It is concluded that the ongoing reconfiguration increases the country’s dependence on international economic and financial cycles because it takes necessary instruments of economic intervention away from the State. Moreover, it reduces internal control over the competition with foreign companies in the national territory, reinforces the commodity-exporting sector and makes mass consumption more pro-cyclical. This reconfiguration implies a partial reversal in the internalization of the dynamic centre of Brazilian capitalism that occurred during the import substitution industrialization process.https://journals.openedition.org/regulation/21700financialisationbrazilian crisisleft-wing governmenthierarchy of ruling classesliberal reforms |
| spellingShingle | Marcelo Soares Bandeira de Mello Filho Diogo Oliveira Santos Crisis and reconfiguration: economic and political changes in the Brazilian accumulation regime in the XXI century Revue de la Régulation financialisation brazilian crisis left-wing government hierarchy of ruling classes liberal reforms |
| title | Crisis and reconfiguration: economic and political changes in the Brazilian accumulation regime in the XXI century |
| title_full | Crisis and reconfiguration: economic and political changes in the Brazilian accumulation regime in the XXI century |
| title_fullStr | Crisis and reconfiguration: economic and political changes in the Brazilian accumulation regime in the XXI century |
| title_full_unstemmed | Crisis and reconfiguration: economic and political changes in the Brazilian accumulation regime in the XXI century |
| title_short | Crisis and reconfiguration: economic and political changes in the Brazilian accumulation regime in the XXI century |
| title_sort | crisis and reconfiguration economic and political changes in the brazilian accumulation regime in the xxi century |
| topic | financialisation brazilian crisis left-wing government hierarchy of ruling classes liberal reforms |
| url | https://journals.openedition.org/regulation/21700 |
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