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Celso Furtado, the return to the basic controversy

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  • Fernando Pedrão

Abstract

A reading of the work of Celso Furtado in its completion opens an enriching view of the interaction between theoretical thinking and the unveiling of Latin-America history. Starting from an appraisal of the pre-Classic and Classic authors, Furtado outlined an approach of surplus theory. That would enable development theory to deal with the unevenly industrialized economies like Brazil. His thorough analysis of development and underdevelopment processes broke away from the initial ECLA experiences to build a planning proposal the uprising country. The French roots of his academic profile helped him to keep an orderly explanation of capital demand that kept him siding with Wicksell against the subjective theory of Schumpeter. JEL Classification: O11.

Suggested Citation

  • Fernando Pedrão, 2011. "Celso Furtado, the return to the basic controversy," Brazilian Journal of Political Economy, Center of Political Economy, vol. 31(2), pages 249-261.
    • Handle: RePEc:ekm:repojs:v:31:y:2011:i:2:p:249-261:id:402
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    Keywords

    surplus theory; underdevelopment process; capital accumulation;
    All these keywords.

    JEL classification:

    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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