Debt And The Less Developed Countries by Jonathan David Aronson

Author:Jonathan David Aronson [Aronson, Jonathan David]
Language: eng
Format: epub
ISBN: 9780429727108
Barnesnoble:
Publisher: Taylor & Francis
Published: 2019-02-22T00:00:00+00:00

4. Summary and Conclusion: Questioning Brazil’s “Deficit-Financed Development”

Suppose the Brazilian economic "miracle" were evaluated in terms of criteria promoted by the International Labor Organi

zation—namely the provision of basic human needs for all.35 Virtually no analyst would claim that Brazil has done as well in terms of these criteria as might reasonably have been expected given its high growth rate. Undoubtedly, the official response would be that short-term savings, necessarily entailing sacrifice, must precede improvements of goods and services. Eventually, growth will benefit all Brazilians. If fault is to be laid anywhere for the reversal of Brazil's growth rates, the argument continues, then the vagaries of the international arena in which Brazil must compete with overwhelmingly stronger economies must be blamed. The situation will improve when global equity emerges in world exchanges. Brazil then will return to concerns of equity, and social policies will increase.

Yet, Brazil's social performance, even in times of high production output, was weak at best and perhaps little more than a political ploy to diffuse regime opposition. Of programs aimed at improving wage earners' living standards, Skidmore writes:

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