My take on the importance of the Brazilian elections for state capitalism.
Last Sunday, 26th October, Brazilians voted the incumbent Dilma Rousseff, securing the Workers’ Party (PT) its fourth electoral victory. In a very tight race with Aecio Neves of the Brazilian Social Democratic Party (PDSB), Rousseff won by a three per cent margin, indicating the fragility of her victory in what has been considered as one of the most unpredictable electoral race since the return of democracy.
After years of economic prosperity, the patterns of growth are not promising. Can a fourth term for the PT change the fortunes of Brazil? Importantly, what has the PT government achieved in the last ten years? Speculating about Brazil’s future requires us to look back at the country’s political economy since the debt crisis. Above all, we need to recognise both the successes and shortcomings of the PT government to understand the political challenges ahead of the next government.
Commodity Booms, Policy…
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