Cruzado versus dollar – what is the true Brazilian currency?

Vol. 10 No. 1 (1990)

Jan-Mar / 1990
Published January 1, 1990
PDF-Portuguese (Português (Brasil))
PDF-Portuguese (Português (Brasil))

How to Cite

Basso, Leonardo Fernando Cruz. 1990. “Cruzado Versus Dollar – What Is the True Brazilian Currency?”. Brazilian Journal of Political Economy 10 (1):126-32. https://doi.org/10.1590/0101-31572023-0521.

Cruzado versus dollar – what is the true Brazilian currency?

Leonardo Fernando Cruz Basso
Fundação Sistema Estadual de Análise e Processamento de Dados – SEADE, São Paulo/SP - Brasil.
Brazilian Journal of Political Economy, Vol. 10 No. 1 (1990), Jan-Mar / 1990, Pages 126-132

Abstract

The paper criticizes the so-called dollarization of Brazilian economy. The argument
is based on Marx’s discussion of the functions of money. The instrument elected to act
as money needs to act as means of payment, i.e., must be used to pay for the commodities
been transactioned. The dollar cannot yet perform this function because it does not exist in
a volume sufficient to pay for the commodities been transactioned.

JEL Classification: B51; E51; E31.


Keywords: Dollarization inflation Marxian economics