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Strategic decisions and overlapping consensus in Latin America

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  • Luiz Carlos Bresser-Pereira

Abstract

The paper, first, summarizes Latin American structuralism, and offers reasons why it was so influential and durable in the region, as it attended to real demands, and was part of 1950s’ mainstream economics. Second, says why, with 1980s’ Great Crisis, structuralism eventually ended itself into crisis, as it was unable to keep pace with historical new facts, particularly with the industrial revolution or take-off, that made Latin American economies intermediary, still developing, but fully capitalist. Third, it lists the quasi-consensus or overlapping consensus that today exists on economic development. Fourth, opposes “official orthodoxy” to “developmental populism”, the former deriving from neoclassical economics, the later from structuralism, and offers, in relation to six strategic issues, a development alternative. JEL Classification: B1; B5.

Suggested Citation

  • Luiz Carlos Bresser-Pereira, 2001. "Strategic decisions and overlapping consensus in Latin America," Brazilian Journal of Political Economy, Center of Political Economy, vol. 21(4), pages 611-637.
    • Handle: RePEc:ekm:repojs:v:21:y:2001:i:4:p:611-637:id:992
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    File URL: https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/992/977
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    More about this item

    Keywords

    Latin America; structuralism; orthodoxy; developmental populism;
    All these keywords.

    JEL classification:

    • B1 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925
    • B5 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches

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