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Artigos originais • Econ. soc. 29 (2) • May-Aug 2020 • https://doi.org/10.1590/1982-3533.2020v29n2art04   copy

Has depression economics returned?

Authorship SCIMAGO INSTITUTIONS RANKINGS

Abstract

The purpose of this article is to characterize the current Brazilian economic situation and outline a prescription for its recovery. Brazil currently encapsulates the main characteristics of the depressions of the 1870s and 1930s. During these events, there was a sharp fall in output, a high unemployment rate and prolonged insufficiency of demand. Brazil faces a depression and not a transitory recession. The diagnosis and the prescription for economic recovery were elaborated from the ideas and experience of J.M. Keynes during the 1930s.

Keywords:
Brazilian economy; Depression; Keynesian economics

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