The 2008 financial crisis and neoclassical economics

The 2008 global financial crisis was the consequence of the process of financialization, or the creation of massive fictitious financial wealth, that began in the 1980s, and of the hegemony of a reactionary ideology, namely, neoliberalism, based on self-regulated and efficient markets. Although capitalism is intrinsically unstable, the lessons from the stock-market crash of 1929 and the Great Depression of the 1930s were transformed into theories and institutions or regulations that led to the "30 glorious years of capitalism" (1948-1977) and that could have avoided a financial crisis as profound as the present one. It did not because a coalition of rentiers and "financists" achieved hegemony and, while deregulating the existing financial operations, refused to regulate the financial innovations that made these markets even more risky. Neoclassical economics played the role of a meta-ideology as it legitimized, mathematically and "scientifically", neoliberal ideology and deregulation. From this crisis a new capitalism will emerge, though its character is difficult to predict. It will not be financialized but the tendencies present in the 30 glorious years toward global and knowledge-based capitalism, where professionals will have more say than rentier capitalists, as well as the tendency to improve democracy by making it more social and participative, will b e resumed.

O efeito da intenção de reeleição sobre gastos em saúde: uma análise com base no modelo de reputação política

The effect of reelection intention on public health expenditures: An analysis based on reputation models. The political model of reputational-building argues that if the incumbent politician aspires to be reassigned, he/she must act in the voters' interest to obtain their approval and consequently their votes. Considering that voters are sensitive to public health expenditures, we check how reputational incentives shift municipal spending patterns in electoral years. The empirical tests for 3.004 Brazilian municipalities show an increase of health expenditures in those cities in which incumbents are trying to maintain their jobs. In addition, we find an increment in health expenditures where mayors forfeit their chance of being reelected to the benefit of a party mate.

Marshall e os críticos à economia política clássica

Marshall and the critics to the classical political economy. This paper analyzes the period of transition between the millian orthodoxy and the marshallian orthodoxy with special emphasis on the influence of the economic debates of the 1870's and 1880's in the genesis of Marshall's conceptions. It is argued that in these decades Political Economy was questioned in three different fronts: by the theoretical critics, by the adepts of the historical method, and by the humanists. It is also argued that Marshall answered these criticisms, sometimes by accepting and incorporating them, sometimes by rejecting them, and in doing so he was able to construct a new disciplinary consensus - that gave the foundations to the practice of the next generation of economists.

Persistência inflacionária e curva de Phillips novo-keynesiana para o Brasil

Inflation persistence and new Keynesian Phillips curves for Brazil. In this paper is shown that sustainable inflation persistence has theoretical support not only due price indexation, but also because of micro-foundations based on assumptions of Simon's bounded rationality and because of persistent mark-up shocks. the new keynesian phillips curve, estimated for brazil for the period 2000/2008, and the partial coefficients of determination for moving sub-periods of 36 months identifies inflation persistence as the main determinant of inflation, with the capacity gap presenting larger importance only in the end of the sample period. Inflation persistence requires harder monetary policy when neither accommodation is acceptable nor complementary policies in order to reduce it, such as the minimization of indexation mechanisms and control of the market power, are adopted.

Global booms and busts: how is Brazil's middle class faring?

Brazil's Post War economic history has been marked by inflationary booms and busts, which kept large parts of the population poor, as income distribution remained highly skewed, and most governments failed to put enough efforts and resources into education and health. That seems to have changed recently, as an increasing number of studies have shown considerable advances in the incomes of the lower and the middle classes. This essay examines those findings and puts them into a historical perspective, discussing earlier attempts and hopes of Brazilian policy makers to advance the welfare of the population. It concludes that while the last fifteen years have been remarkable for the country to achieve macroeconomic stability and while the increasing efforts of supporting the poor seemed to have been moving income distribution slowly towards a more equal level, there is still a long way to go. The 2008 world financial crisis also hit Brazil hard, but the recovery has been smoother and faster than in any OECD country. The impact of the current crisis may provide a good test as to the robustness of the previous trends to further the wellbeing of the poor and the middle class

Uma mestra na periferia do capitalismo: a economia política de Maria da Conceição Tavares

A master in the periphery of capitalism. Maria da Conceição Tavares is an eminent figure in Brazilian economic thought, especially in heterodox circles. She has tackled various issues, such as underdevelopment, from the perspective of a "critique of political economy". The purpose of this article is to identify the main theoretical references, as well as the methodological stance, in Tavares's works, by revisiting the author's critical dialogue with some strands of Political Economy. Although Tavares's work sets up a dialogue with various economists, the paper will focus on her interpretation of Marx, Keynes and Kalecki, whose ideas are of utmost importance for the construction of her analytical framework.

El efecto de la triple hélice en los resultados de innovación

La innovación está relacionada con el crecimiento de las economías y de las empresas, y en un entorno cambiante como el actual, se presenta como una herramienta fundamental para conseguir ventajas competitivas. Esta investigación tiene por objetivo analizar la relación existente entre la capacidad de innovación de las empresas y la obtención de información de las mismas a través de la cooperación con competidores, proveedores, Universidades y otras instituciones públicas (Triple Hélice). En primer lugar se desarrolla una revisión bibliográfica de los conceptos relacionados para posteriormente, a través del método de ecuaciones estructurales, dar respuesta y aceptar la hipótesis propuesta que pone de manifiesto la relación existente entre los resultados de innovación de las empresas y la información obtenida de la Triple Hélice. La investigación se realiza con una muestra de empresas españolas, encuestadas por el Instituto Nacional de Estadística (INE), durante los años 2008-2010.

Association between food assistance program participation and overweight

OBJECTIVE The objective of this study was to investigate the association between food assistance program participation and overweight/obesity according to poverty level. METHODS A cross-sectional analysis of data from 46,217 non-pregnant and non-lactating women in Lima, Peru was conducted; these data were obtained from nationally representative surveys from the years 2003, 2004, 2006, and 2008-2010. The dependent variable was overweight/obesity, and the independent variable was food assistance program participation. Poisson regression was used to stratify the data by family socioeconomic level, area of residence (Lima versus the rest of the country; urban versus rural), and survey year (2003-2006 versus 2008-2010). The models were adjusted for age, education level, urbanization, and survey year. RESULTS Food assistance program participation was associated with an increased risk of overweight/obesity in women living in homes without poverty indicators [prevalence ratio (PR) = 1.29; 95% confidence interval (CI) 1.06;1.57]. When stratified by area of residence, similar associations were observed for women living in Lima and urban areas; no associations were found between food assistance program participation and overweight/obesity among women living outside of Lima or in rural areas, regardless of the poverty status. CONCLUSIONS Food assistance program participation was associated with overweight/obesity in non-poor women. Additional studies are required in countries facing both aspects of malnutrition.

Isolation of yellow fever virus (YFV) from naturally infectied Haemagogus (Conopostegus) leucocelaenus (diptera, cukicudae) in São Paulo State, Brazil, 2009

After detecting the death of Howlers monkeys (genus Alouatta) and isolation of yellow fever virus (YFV) in Buri county, São Paulo, Brazil, an entomological research study in the field was started. A YFV strain was isolated from newborn Swiss mice and cultured cells of Aedes albopictus - C6/36, from a pool of six Haemagogus (Conopostegus) leucocelaenus (Hg. leucocelaenus) mosquitoes (Dyar & Shannon) collected at the study site. Virus RNA fragment was amplified by RT-PCR and sequenced. The MCC Tree generated showed that the isolated strain is related to the South American I genotype, in a monophyletic clade containing isolates from recent 2008-2010 epidemics and epizootics in Brazil. Statistical analysis commonly used were calculated to characterize the sample in relation to diversity and dominance and indicated a pattern of dominance of one or a few species. Hg. leucocelaenus was found infected in Rio Grande do Sul State as well. In São Paulo State, this is the first detection of YFV in Hg. leucocelaenus.

A NEW POSSIBILITY FOR SURVEILLANCE: DO WE IDENTIFY ALL CASES OF LEPTOSPIROSIS?

SUMMARY Leptospirosis is a febrile disease with a typically underestimated global incidence, especially in regions where dengue is endemic. Therefore, it is difficult to accurately determine the number of leptospirosis cases in these areas, which contributes to significant under-reporting this disease. In this study, we estimated the number of possible leptospirosis cases among dengue-like cases that were reported during 2008, 2010, and 2012 in the city of Fortaleza, northeast Brazil. Patients were evaluated for dengue and leptospirosis using immunoenzymatic tests for IgM antibodies that were specific to each pathogen. Among the suspected cases of dengue that resulted as negative in laboratory tests, 10.8% (2008), 19.2% (2010), and 30.8% (2012) were confirmed to be leptospirosis. Considering the cases reported by the surveillance authority as dengue that were subsequently discarded based on the laboratory test results, we estimate that the number of actual leptospirosis cases may be 26 to 49 times higher than those diagnosed and reported by the Health Services. Furthermore, we believe that approximately 20% of dengue-like cases may be leptospirosis cases in areas where the two diseases are endemic.

Genotypes of Cryptococcus neoformans and Cryptococcus gattii as agents of endemic cryptococcosis in Teresina, Piauí (northeastern Brazil)

Throughout Brazil, Cryptococcus neoformans is the cause of cryptococcosis, whereas Cryptococcus gattii is endemic to the northern and northeastern states. In this study, the molecular types of 63 cryptococcal isolates recovered from the cerebrospinal fluid of meningitis patients diagnosed between 2008-2010 in Teresina, Piauí, Brazil, were analysed. Out of the 63 patients, 37 (58.7%) were human immunodeficiency virus (HIV)-positive and 26 (41.3%) were HIV-negative. URA5-restriction fragment length polymorphism analysis identified 37/63 (58.7%) isolates as the C. neoformans VNI genotype, predominantly in HIV-positive patients (32/37, 86.5%), and 24/63 (38.1%) as the C. gattii VGII genotype, mostly in HIV-negative patients (21/26, 80.8%). The occurrence of C. gattii VGII in six apparently healthy children and in seven adolescents/young adults in this region reaffirms the endemic occurrence of C. gattii VGII-induced primary cryptococcosis and early cryptococcal infection. Lethality occurred in 18/37 (48.6%) of the HIV-positive subjects and in 13/26 (50%) of the HIV-negative patients. Our results provide new information on the molecular epidemiology of C. neoformans and C. gattii in Brazilian endemic areas.

Tuberculosis patients co-infected with Mycobacterium bovis and Mycobacterium tuberculosis in an urban area of Brazil

In this cross-sectional study, mycobacteria specimens from 189 tuberculosis (TB) patients living in an urban area in Brazil were characterised from 2008-2010 using phenotypic and molecular speciation methods (pncA gene and oxyR pseudogene analysis). Of these samples, 174 isolates simultaneously grew on Löwenstein-Jensen (LJ) and Stonebrink (SB)-containing media and presented phenotypic and molecular profiles of Mycobacterium tuberculosis, whereas 12 had molecular profiles of M. tuberculosis based on the DNA analysis of formalin-fixed paraffin wax-embedded tissue samples (paraffin blocks). One patient produced two sputum isolates, the first of which simultaneously grew on LJ and SB media and presented phenotypic and molecular profiles of M. tuberculosis, and the second of which only grew on SB media and presented phenotypic profiles of Mycobacterium bovis. One patient provided a bronchial lavage isolate, which simultaneously grew on LJ and SB media and presented phenotypic and molecular profiles of M. tuberculosis, but had molecular profiles of M. bovis from paraffin block DNA analysis, and one sample had molecular profiles of M. tuberculosis and M. bovis identified from two distinct paraffin blocks. Moreover, we found a low prevalence (1.6%) of M. bovis among these isolates, which suggests that local health service procedures likely underestimate its real frequency and that it deserves more attention from public health officials.

Estruturas de governança interna e a capacidade de inovação em pequenas firmas brasileiras de torrefação e moagem de café

Na pesquisa relatada neste artigo são investigadas quais as combinações de estruturas de governança interna (mercado, burocrática e comunitária) que possibilitam mais capacidade de inovação de produto nas pequenas firmas. Neste estudo, inspirado nos trabalhos de Grandori e Furnari (2008; 2010), tem-se como hipótese que a capacidade de inovação ocorre de modo mais consistente nas firmas que adotam uma estrutura de governança interna multimodal. Essa hipótese foi testada por meio de um survey com 80 indústrias brasileiras de torrefação e moagem de café(1). Para encontrar as combinações de estruturas, foi utilizada a análise comparativa qualitativa (QCA) no software fs/QCA versão 2.0 (RAGIN, 2008). Como resultado, verificou-se que a estrutura de governança interna multimodal - que combina práticas de incentivos monetários, burocráticas e comunitárias - apresentou resultados mais consistentes para a inovação das pequenas firmas de torrefação. Esses resultados, ao permitirem identificar os requisitos organizacionais que produzem mais possibilidades de inovação, podem ajudar a traçar ações de políticas públicas e privadas para as empresas brasileiras, de modo a melhorar sua taxa de inovação e a competitividade em seus mercados.