This paper analyses the Argentine stabilization plan, known as “Austral Plan”. We divided this work in three main sections. In the first one, the theoretical propositions, which, according to us, is important for understanding the measures of the “Austral Plan”, and is reviewed. The second section looks at the more important measures of the plan and the evolution of argentine economy during the first nine months of the application of the plan; that is, from the time the plan was implemented until the prices began to rise. In the last section, we consider some questions the program will have to face in the near future.
The debt crisis of Latin America can be divided into three stages. In the first stage, 1982-1984, Latin America had a trade deficit and small bargaining power. From 1984 Latin America started presenting large trade surpluses. This means transference of real resources but also means an increased bargaining power. If Latin America suspend the payment of part of the interests, it will be able to buy all it needs. The third stage should start now. In this stage Latin America should use this new bargaining power more effectively in order to maintain reasonable rates of economic growth.
An increase of the public deficit will have a bigger or smaller impact on aggregate demand de-pending on its real or financial origin. An increase in the interests paid by the public sector will have a different effect on the macroeconomic level of an increase in the purchases of goods and services. Starting from these hypothesis this paper criticizes the conventional theory about public deficit and presents an alternative model of macroeconomic analysis of the effects of the public deficit emphasizing its internal composition between interests and real expenditures.
The principal aim of this paper is to discuss the growth-cum-debt strategy set out in the II NDP and adopted in Brazil between 1974 and 1979, as a way of making the external adjustment of the economy. It is argued that, despite the mistakes made by the authorities in Brazil on matters of economic policy and on certain investment decisions, the strategy set out in the II NDP and pur-sued over the period between 1974 and 1979 played, on the whole, a positive role in adjusting Bra-zil’s external accounts in addition to sustaining economic growth.
This paper deals with some crucial aspects found in Keynes theoretical contribution. We intend to show the importance of time, expectations and uncertainty in his analytical scheme and how he explains the existence of capitalism instability taking into account these elements as constituti-ves of capitalistic system. Furthermore we make some philosophical digression on the nature and importance of decisions in a context of time and uncertainty about the future that necessarily sur-rounds all human action.
Some Brazilian authors that utilize a Marxist approach have insisted on the unfeasibility of private capitalist production. The premises of this thesis are: 1) the existent difference into the agriculture process of production between the labor time and the production time and 2) the hypothetical lower rate of profit of the capitalist agriculture. This article tries to show that these premises are false once the process of production was changed S0 much by the modern agriculture that it has become very similar to the industry.