Os dois métodos e o núcleo duro da teoria econômica

While methodological sciences have no object and are supposed to adopt a hypothetical-deductive method, substantive sciences including economics should use an empirical or historical-deductive method. The great classical economists and Keynes did that and were able to develop open models explaining how equally open economic systems work. Thus, the hard core of relevant economics is formed by the classical microeconomics and the classical theory of capitalist economic growth, and by Keynesian macroeconomics. In contrast, neoclassical economist aiming to build a mathematical science wrongly adopted the hypothetical-deductive method, and came to macroeconomic and growth models that do not have practical use in policymaking. The exception is Marshall's microeconomics that does not provide a model of real economic systems, but is useful to the analysis of markets.

Michal Kalecki, um pioneiro da teoria econômica do desenvolvimento

Kalecki made important contributions to development economics, which rank him among the founding fathers of this area of our discipline. The objective of this paper is to give an account of his contributions, and in particular of his conception of the peculiarities and the way of functioning of the underdeveloped economies, and of the barriers that limits their capacity for high and sustained long run growth. As most socialist economists of his time, he was skeptic about the possibilities of overcoming underdevelopment under capitalism. However, in contradistinction to other pioneers of development economics, Kalecki did not stress the international forces that hamper development, but put the accent rather in the internal institutions and social and political determinants. In particular, the feudal and semi-feudal conditions in agriculture, the reduced market ensuing from income concentration and widespread monopolization of the economy, and the lack of willingness of entrepreneurs to carry out the necessary investments. Accordingly, his economic policy recommendations emphasized also the domestic aspects involved.

States and Economic Development

Today the Washington Consensus on development lies in tatters. The recent history of the developing world has been unkind to the core claim that a nation that opens its economy and keeps government's role to a minimum invariably experiences rapid economic growth. The evidence against this claim is strong: the developing world as a whole grew faster during the era of state intervention and import substitution (1950-1980) than in the more recent era of structural adjustment (1990-2005); and the recent economic performance of both Latin America and Sub-Saharan Africaregions that truly embraced neoliberalismhas lagged well behind that of many Asian economies, which have instead pursued judicial and unorthodox combinations of state intervention and economic openness. As scholars and policy makers reconstruct alternatives to the Washington Consensus on development, it is important to underline that prudent and effective state intervention and selective integration with the global economy have been responsible for development success in the past; they are also likely to remain the recipes for upward mobility in the global economy in the future."

Estado e embates socioterritoriais na Bolívia do século XXI

Recent results of presidential elections in Latin America suggest a turn to the left in various countries. In Bolivia, such a movement includes the victory of an Aymara Indian who is also a leader of coca farmers. The article proposes an interpretation of this event, describes and discusses the main actions of the new government, stressing the reactions they provoked, and explores the class, ethnic and territorial dimensions of the resulting conflicts. The regional aspects of the fights, seen in connection with the country's historical regionalism, are highlighted and their basic conditions are investigated.

Uma interpretação do Primeiro Milagre Econômico Alemão (1933-1944)

The German Third Reich was successful in reaching its economical objectives. It is intended to explain the causes of the First German Economic Miracle, fitting its economic system into the category of command economy, which does not confuse itself with the centrally planned economy. Thus, in the first section, we describe the so adopted politics in this period and explain how they had led to the recovery of the German economy. The second section evaluates global indicators of economic performance and population welfare. We are looking for to demonstrate the hypothesis that the Nazi economy was efficient. Such efficiency is explained by the characteristics of the German model.

Existe uma ordem econômica internacional? A problematização de uma premissa

This article invites to a reflection on the ontological and axiological foundations of the concept 'international economic order'. We argue that the notion of 'order' implies, at first, identifying a sort of social arrangement or pattern. However, as we intend to demonstrate, this pattern is hardly present in contemporary international economic relations. Besides, the adjectives 'economic' and 'international' instill doubt not only in regard to the nature of the 'international', but also in what concerns the feasibility of spotting a working pattern in international economy nowadays. Thus, it seems, on heuristical terms, an appropriate methodological option to revisit some of the main canonical contributions to the theme of international (economic) order, and to submit it to academic scrutiny. Additionally, we seek to evaluate how plausible it is to think of a 'multilateral' economic international order.

Notas críticas sobre a macroeconomia novo-Keynesiana

This article shows that, in spite of its great steps towards reality, new-Keynesian macroeconomics seems to be a non-systematic construction with problems originated from "ad hoc" hypothesis required to explain the non neutrality of money and the existence of disequilibria in the short run. In particular, it seems that prices and wages rigidities stand in sandy bases and that the derivation of the IS and LM curves from neoclassical fundamentals is problematic. Even disregarding the apparent difficulties of the neoclassical theory of value and distribution, the new-Keynesian connections between interest rate, money, and output do not seem fully consistent.

Torricelli, energia a vapor e o sentido tecnológico da Revolução Científica

Starting from Evangelista Torricelli's pneumatic discoveries, we try to show that the crucial discoveries in pure science associated with the Scientific Revolution, although they may not have found immediate practical applications, have markedly impelled technological progress in the medium term - contrary to the diffused notion which states that the links between science and technology during the modern period have been tenuous, at best. Torricelli's ideas have turned into one of the privileged research areas for then newborn experimental program, actively participating in a process of reformulation in scientific research's epistemological base, which have culminated in steam power productive application.

Rethinking the economics of capital mobility and capital controls

This paper reexamines the issue of international financial capital mobility, which is today's economic orthodoxy. Discussion is often framed in terms of the impossible trinity. That framing distorts discussion by representing capital mobility as having equal significance with sovereign monetary policy and control over exchange rates. It also distorts discussion by ignoring possibilities for coordinated monetary policy and exchange rates, and for managed capital flows. The case for capital mobility rests on neo-classical economic efficiency arguments and neo-liberal political arguments. The case against capital mobility is based on Keynesian macroeconomic inefficiency arguments, neo-Walrasian market failure arguments, and neo-Marxian arguments regarding distortion of the social structure of accumulation. Close examination shows the case for capital mobility to be extremely flimsy, pointing to the ideological dimension behind today's policy orthodoxy.

Valuation models and Simon's bounded rationality

This paper aims at reconciling the evidence that sophisticated valuation models are increasingly used by companies in their investment appraisal with the literature of bounded rationality, according to which objective optimization is impracticable in the real world because it would demand an immense level of sophistication of the analytical and computational processes of human beings. We show how normative valuation models should rather be viewed as forms of reality representation, frameworks according to which the real world is perceived, fragmented for a better understanding, and recomposed, providing an orderly method for undertaking a task as complex as the investment decision.

Metas de inflação: lições da era Greenspan

This paper approaches the experience of monetary policy in the Greenspan period and suggests what lessons could be learnt. The adoption of inflation targeting would denote a step backward in the policymaking process in the USA, for, since the 1980s, a distinctive feature is flexibility of response to adjust to unexpected events and changing environments. The Fed was able to exercise an informed judgement in critical situations and this opens the case for the importance of not restraining policymakers' actions through the adoption of tight rules. Furthermore, that the various experiences with inflation targeting are indisputably huge successes, and that this framework represents the state of the art (therefore nothing else can alternatively be done), remains to be seen.

Diferentes padrões de políticas salariais nos estados brasileiros: uma análise a partir do diferencial de salários público-privado

Public servant wages represent a significant part of Brazilian state governments' current expenses. Based on the literature, this paper has tried to identify which states practice efficient, compensatory or appropriation wage politics through the estimation of public-private wage differentials. The differential of salaries was calculated between 1995 and 2004 following the Oaxaca's technique. The results show that the wage policy of an important number of states has had efficiency and a numerous part of the North and the Northeast states have developed compensatory politics. The Federal District and Roraima practiced a wage policy characterized by explicit appropriation.

Welfare State e emprego em saúde nos países avançados desde o Pós-Segunda Guerra Mundial

The article analyzes the economic importance of the health activities in the developed countries in the last decades of the twentieth century. It takes into consideration the evolution of the weight of the employment in the health activities in European countries' and also in the United States' labour markets, which will be compared in an historical perspective. The evolution and the weight of the public expenditure in the health activities will also be taken into account so as to analyze the economic importance of the sector in the last decades of twentieth century. The role played by the political, economic and social context of the Post-Second World War in the construction of the system of social protection (Welfare State) and its effects over the health activities will be also considered.