Stabilization programs, technocratic mystification and sectoral chambers

Guido Mantega ()

Brazilian Journal of Political Economy, 1994, vol. 14, issue 2, 190-207

Abstract: The present paper discusses the nature and the conditions of stabilization planin democratic societies, criticizing the technocrats’ approach that reduces those plans to amere technical decision, this hiding their social consequences and implications in terms ofgains and losses. The inefficacy of orthodox and heterodox plans from in recent years saidto be due to their lack of clarity, politics and legitimacy. A stabilization program cannotbe left in the hands of market or cannot be resumed to a fiscal adjustment and monetaryrestrictions, but must have income policies, introduced by the State and with the active participationof social classes. The experience of the sectorial chambers in certain branches ofindustrial activities harbours an insight towards a new mechanism of coordination of prices,wages and public prices, that can slow down that inertial inflation and keep price increasein Brazil under control. JEL Classification: E31; P13.

Keywords: Political economy; stabilization; technocracy (search for similar items in EconPapers)
Date: 1994
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