.

On February 28 of 1986 the Brazilian government decided to freeze all prices.
This “heterodox shock “ and the development by Brazilian economists of the theory of inertial
inflation, which served as a theoretical basis for the shock, are here discussed.

JEL Classification: E31.

ln this paper we argue for the introduction of a more stable agricultural policy,
particularly in terms of governmental interventions in the functioning of the several markets
for agricultural products as compared to the pattern of such interventions in the recent
past. Such greater stability is characterized in two levels. First, a price policy for domestic
crops, including buffer stocks, minimum prices and ceiling prices which would indicate the
moments for acquisitions to and selling from stocks. Second, for exported crops, a new
approach to the practice of commercial policy, especially involving exports less subject to
governmental restrictions.

JEL Classification: Q11; Q17.

This article discusses Hilferding’s theory of competition and argues that it resembles
the neoclassical theory of perfect competition, The existence of differential profit
rates is interpreted by Hilferding as representing an expression of the process of general
monopolization in the economy, the law of value being therefore gradually weakened. Yet, in
the light of Marx’s conception, the phenomenon of differential rates of profit among capitals
in one and the same industry, as well as the differential rates of profit in different industries
are necessary phenomena of competition. The conclusion may thus be reached that monopoly
is part of the concept of capitalist competition and that the law of value should be maintained
as an indispensable theoretical foundation for the study of the workings of capitalism.

JEL Classification: B24;B26; D42.

The purpose of this essay is the presentation of a general view of the theory of
the functioning and dynamics of advanced capitalism of Kalecki. After analyzing the general
relationship between effective demand and the levels of economic activity and employment,
the author studies the logic of Kalecki’s cyclical model of growth. Along with the presentation
of Kalecki’s ideas, the author takes issue with some criticisms of the theory of effective
demand.

JEL Classification: E11; B24; O40.

This paper deals with the socio-economic implications of the technical basis
in the Brazilian automobile industry, due to the diffusion of microelectronics automated
equipment. It is shown that this industry has entered a new phase of greater integration with
the industry at the world level, both in technical and economic terms. Automation based
on microelectronics is being used to support patterns of production of increased efficiency.
Outdated capital-labour relations in the industry may begin to evolve accordingly with the
new political development toward democratization of the country.

JEL Classification: L62; L63; F10.

Employment became one of the central economic questions in Brazil since 1981.
ln this article we analyse the transformations that ocurred in the labour market between
1980 and 1983, including, therefore, the years of more intense recession of this decade.
Using data from household budget surveys and other official information, the crisis in the
formal labour market and the growth of the informal sector are analysed.

JEL Classification: J21; J31.

This short note analysis the rationale behind the new wage policy enacted by the
government.

JEL Classification: J31; J38.

This is a compilation of the “Plano de Estabilização Econômica” (“Economic
Stabilization Plan) later known as Cruzado Plan issued by the Sarney government and
speeches about it.

JEL Classification: E31.

A compilation of press articles about the Cruzado Plan.

JEL Classification: E31.