The Brazilian economy has been suffering from a double disease in the last few decades: a combination of anemia in productivity increases and an obesity of the public sector. On the one hand, the mediocre performance of productivity in Brazil in recent decades has limited its GDP growth potential. On the other, the expansion of public spending has become increasingly incompatible with such limits on the potential expansion of GDP, particularly since the growing public spending has not achieved commensurate socioeconomic results.
It is not the Economy that needs to be cured, but Brazilian society. It is a big mistake to continue using exchange values and the GDP growth rate to guide social decision making.
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It is not the Economy that needs to be cured, but Brazilian society. It is a big mistake to continue using exchange values and the GDP growth rate to guide social decision making.
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