By Esteban Pérez-Caldentey, Matias Vernengo
ISBN-10: 0203964020
ISBN-13: 9780203964026
ISBN-10: 0415770556
ISBN-13: 9780415770552
The interaction of rules and rules is crucial to realizing the ancient evolution of economies. rules form fiscal associations and genuine monetary constraints are the resource of latest fiscal rules. The historical past of monetary principles, either those who are rather fresh and those who are significantly older, could provide a fertile flooring for brand spanking new methods to Latin American and Caribbean financial improvement. although, the background of financial principles and their elaborate relation to monetary guidelines is still a comparatively unexplored box in Latin American and Caribbean stories. This e-book is a worthwhile new contribution to this rising literature.
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Additional info for Ideas, Policies and Economic Development in the Americas (Routledge Studies in Development Economics)
Sample text
I say a “relative success” because the book’s key assumption, which is influenced by Marx and Keynes, Method and passion in Celso Furtado 25 still seems to me to be ill-placed. The stagnation or the development at very low rates would be due on one hand to the increase in the capital–labor ratio, and on the other hand to the decrease in the product–capital ratio, as a result of the capital-intensive nature of investments and their allocation to consumer durables. Capital productivity would then be falling (Furtado, 1966, p.
But this does not mean that the whole economic theory may be subordinated to it. A second branch of the economic theory – macroeconomics – cannot be reduced to microeconomics because one deals with the behavior of economic agents, and the other, with economic aggregates – this is only a definition. Microeconomics, or, more precisely, the general equilibrium model that provides its basis, approaches economy from a logical-deductive perspective, deducing the way by which resources are allocated and income distributed in a market economy from a single assumption, the agents’ rational behavior.
He is only being able to combine his creativity with his logical rigor in order to present, from the available data, a general picture of the historical evolution of Brazilian economy hitherto unsurpassed. Formação Econômica do Brasil is for me the most important book published in the twentieth century on Brazil because in it Furtado was able to use economic theory and the other social sciences not to describe, but to analyze the economic history of Brazil. Method and passion in Celso Furtado 19 I will give an example of his independence and method in that book.
Ideas, Policies and Economic Development in the Americas (Routledge Studies in Development Economics) by Esteban Pérez-Caldentey, Matias Vernengo
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