Brazilian Journal of Political Economy <p><strong>The Center of Political Economy </strong>is a cultural character association that publishes, since 1981, the <em>Brazilian Journal of Political Economy /</em><em>Revista de Economia Política</em> - and conducts regular seminars and conferences on the issue of economic and social development and macroeconomic stability. <a href="">Read More</a></p> <p><strong>Brazilian Journal of Political Economy</strong> is a peer-reviewed, bilingual academic journal, published quarterly since 1981 by the Center for Political Economy through Editora 34. It is the most cited academic journal of economics in Brazil. <a href="">Read More</a></p> Center of Political Economy en-US Brazilian Journal of Political Economy 0101-3157 The price of wealth <p>The paper reviews the work of E. Altvater dealing with the challenges of the<br>environmental depletion to humankind survival. It shows the logic of its analytical structure,<br>built to demonstrate its central thesis: growing environmental problems are inherent to capitalism<br>development, leading to a sharp division between a small number of countries with<br>high levels of natural resources consumption and the others, poor ones, destined to play a<br>role as natural resources reserves for the former. The paper argues about the validity of the<br>hypothesis of this analytical model. It assumes as true only the first one, on the impossibility<br>to diffuse all over the world the Euro-American production and consumption patterns without<br>causing an environmental disaster. The other ones are viewed either as lacking empirical<br>evidence or more solid arguments.</p> <p><strong>JEL Classification:</strong> Q56; W452; Y30.</p> Ademar Ribeiro Romeiro Copyright (c) 1997 Brazilian Journal of Political Economy 2022-07-07 2022-07-07 42 2 470 475 10.1590/0101-31571997- 0979 Does Behavioral Economics substitute or complement Neoclassical Economics? Rethinking the behavioral revolution from a contextualist approach <p>A ascensão da Economia Comportamental levanta uma questão importante: ela<br>substitui ou complementa a Economia Neoclássica? Este artigo faz uma análise para identificar<br>como a questão da substituição-complementaridade é altamente sensível ao contexto<br>epistêmico. Em particular, o artigo distingue quatro contextos epistemológicos: descritivo,<br>explicativo, preditivo e prescritivo. Defende a ideia de que a abordagem comportamental<br>substitua a neoclássica em contextos descritivos e explicativos; no entanto, há uma complementaridade<br>nos contextos preditivo e prescritivo, onde existem alguns domínios em que a<br>abordagem neoclássica ainda pode funcionar bem.</p> <p><strong>JEL Classification:</strong> A12; B40; B41; D01; D91.</p> Josafat Ivan Hernandez-Cervantes Copyright (c) 2022 Brazilian Journal of Political Economy 2022-05-05 2022-05-05 42 2 532 549 10.1590/0101-31572022-3248 Brazil’s quasi-stagnation and the new developmentalism <p>From the 1980s, Brazil quasi-stagnated while East-Asia continued to grow. What<br>went wrong? Classical developmentalists and post-Keynesians argue the cause was the<br>desertion of the national developmental project based on structural change or industrialization.<br>New-developmental economics agrees but is more specific: two historical new facts reduced<br>investments. In the 1980s, a fiscal crisis of the state defined by negative public savings, broke<br>up. This crisis, which was not resolved, led to the fall of public investments. As to private<br>investments, they also have fallen as a percentage of GDP (when we compare with the 1970).<br>They have fallen due to an action and an omission. The action was the mistaken adoption of<br>growth with foreign indebtedness policy and the consequent excess of capital inflows. The<br>omission was the suspension of the neutralization of the Dutch disease. Both resulted in a<br>long-term overvaluation of the exchange rate and stopped industrialization.</p> <p><strong>JEL Classification:</strong> O1; E2; F31; F34; F41.</p> Luiz Carlos Bresser-Pereira Copyright (c) 2022 Brazilian Journal of Political Economy 2022-05-05 2022-05-05 42 2 503 531 10.1590/0101-31572022-3328 Brazilian underdevelopment portrayed by its excluding growth dynamics: an empirical analysis based on Celso Furtado <p>Celso Furtado’s analysis of Brazilian underdevelopment is widely recognized for<br>its historical-structural approach, while his macroeconomic analytical bias often receives little<br>attention. Considering this, in addition to giving emphasis to this perspective of his analysis,<br>this work aims at carrying out an empirical essay which tests the relationships among the<br>main variables of the author’s scheme. For this purpose, an SVAR (Structural Vector Autoregressive)<br>is used with data from Brazilian economy, from 1965 to 2015. The results show<br>that the tested interrelations are consistent with his macroeconomic interpretation of the<br>growth process of Brazilian economy in the boundary of underdevelopment.</p> <p><strong>JEL Classification:</strong> O11.</p> Alanna Santos de Oliveira Carlos Alves do Nascimento Copyright (c) 2022 Brazilian Journal of Political Economy 2022-05-05 2022-05-05 42 2 481 502 10.1590/0101-31572022-3269 Employment, technical change and growth in Brazil: a conclusion from Input-Output Matrix <p>The debate on technological unemployment is accentuated when disruptive<br>innovations gain eminence, as is the recent case of artificial intelligence. However, such<br>analyses often ignore economic growth and aggregate demand in the treatment of<br>unemployment. This article analyses what has been happening about the jobs in Brazil from<br>the structural decomposition of the Input-Output Matrix. What we find is that, except for<br>agriculture, sectors were job generators from 2000 to 2015. In addition, demand gains were<br>able to compensate for job losses resulting from technological progress.</p> <p><strong>JEL Classification:</strong> J21; J23; C67; O33.</p> Rafael de Acypreste Copyright (c) 2022 Brazilian Journal of Political Economy 2022-05-05 2022-05-05 42 2 460 480 10.1590/0101-31572022-3298 China and the change of the energy matrix in Latin America: a global political economy approach <p>China is leading the global change in the energy matrix and mainly Latin America.<br>This change questions the position and leadership of the United States in general and<br>particularly in Latin America. Evidence shows that the United States lags in energy change<br>in technical and institutional terms and is anchored heavily in dirty energy. Evidence also<br>indicates that the US is not allowing China to advance in the region quickly. Power generation<br>from renewable energy sources is rising, with China leading in solar equipment and<br>hydroelectric dams while buying out electric distribution networks from US firms. The consequences<br>for the global economy will be felt on many fronts, from the balance of trade sign change and decreased inflation to currency realignments and power reshuffle as oil prices<br>collapse.</p> <p><strong>JEL Classification:</strong> F6; O1; F18; F5; O36; O38.</p> Oscar Ugarteche Carlos De León Copyright (c) 2022 Brazilian Journal of Political Economy 2022-05-05 2022-05-05 42 2 442 459 10.1590/0101-31572022-3203 Digitalization and its impact on economic growth <p>Digitalization transforms the traditional concepts of economic growth and<br>competitiveness. This article studies the effect of digitalization on Russia’s economic<br>growth. As indicators measuring the impact of digitalization processes on economic<br>growth, the study used the Gross Domestic Product per capita, the Global Competitiveness<br>Index, the Index of Digital Life, the Digital Adoption Index, and the Resilience Index.<br>Their in-depth examination based on a three-pronged model showed that the state of the<br>macroenvironment and the readiness of the population for digital transformation do not<br>allow digital technologies to affect the economic growth rate seriously.</p> <p><strong>JEL Classification:</strong> F43; O34; O4.</p> Ariadna Aleksandrova Yuri Truntsevsky Marina Polutova Copyright (c) 2022 Brazilian Journal of Political Economy 2022-05-05 2022-05-05 42 2 424 441 10.1590/0101-31572022-3306 Domar, the West and Russian economics: a historical perspective <p>The paper discusses Evsey Domar’s role as a link between economics in the West<br>and in Russia, including his influence on some Brazilian economists. The Russian heritage<br>he brought with him from Harbin (Manchuria) to the US consisted of an interest in socialism<br>and Russian history. He paid close attention to the 1947 Varga controversy in the USSR.<br>Domar’s rediscovery of Feldman’s (1928) growth model in 1957 brought it to the attention of Western and Soviet economists alike. Soviet economic development was also discussed<br>in his interpretation of Preobrazhensky’s (1926) approach to the interaction between agricultural<br>and industrial sectors. Domar’s 1966 seminal article on producer cooperatives<br>called attention to Tugan-Baranovsky’s 1915 book on the topic. Domar’s interest in history<br>resulted in his 1970 hypothesis about the origins of Russian serfdom and of North and<br>South American slavery. Soviet economists paid some attention to Domar’s growth models,<br>especially those involving depreciation and the time structure of capital goods.</p> <p><strong>JEL Classification:</strong> B22; B24; N00.</p> Mauro Boianovsky Copyright (c) 2022 Brazilian Journal of Political Economy 2022-05-05 2022-05-05 42 2 401 423 10.1590/0101-31572022-3397 Capes’ evaluation and the field of Economics: the primacy of the American orthodox mainstream <p>Using the Bourdieusian concept of Field, this article looks at Capes’ evaluation<br>of graduate programs as an expression of the disputes surrounding the very definition of<br>what constitutes Economics. Based on extensive documentary analysis, it demonstrates how<br>the criteria in place are markedly exclusionary. On the one hand, they encourage researchers<br>to adopt the assumptions of neoclassical liberalism, tested by econometric models, in line<br>with American mainstream; on the other hand, they punish, in more or less extent, all other possible theoretical, methodological and thematic approaches, hindering the development of<br>studies built upon the many diverse local Brazilian realities.</p> <p><strong>JEL Classification:</strong> N01; B00; A12.</p> Francisco Moraes da Costa Marques Copyright (c) 2022 Brazilian Journal of Political Economy 2022-05-05 2022-05-05 42 2 378 400 10.1590/0101-31572022-3265 Methodological approaches to measuring quality of life <p>The ultimate goal of the present work lay in creating a vector methodology for<br>measuring QoL. Application of an integrated approach to the results of the classification<br>analysis and SWOT analysis enabled elaborating a vector methodology of a recommendatory<br>type aimed at improving QoL measurement approaches. It was established that this<br>methodology should include four major updates taking into account the challenges of<br>tomorrow. The study results may be of interest to public authorities responsible for taking<br>measures directed at raising the country’s international ranking as well as be used for<br>reducing contradictions on the part of QoL measuring procedures.</p> <p><strong>JEL Classification:</strong> I14; O15; Q56.</p> Aygun Guliyeva Copyright (c) 2022 Brazilian Journal of Political Economy 2022-05-05 2022-05-05 42 2 364 377 10.1590/0101-31572022-3256