The action and thought of Fernão Bracher, a conservative with public spirit

This paper reflects on the trajectory of Fernão Bracher in the light ofinstitutional advances in the Brazilian public administration since the re-democratization of1985 onward. Descendant of a traditional family in São Paulo, Bracher will channel hispublic spirit and his economic nationalism in three opportunities, notably during the postmilitaryregime period, when he governed the Central Bank of Brazil and later became, at the invitation of his friend and minister Luiz Carlos Bresser-Pereira, the Brazilian negotiatorof the external debt. Less theoretical than Bresser but as pragmatic as him, Bracher sharedhis friend’s immense intellectual curiosity, having helped in the exchange of reflectionsamong the different economists involved with the theory of inertial inflation. A man ofaction, in the private and public sectors, Bracher has a trajectory that highlights theovercome of difficulties present in national economic policy. JEL Classification: A10; E60; H63; H81; H83.