Chairman of the Board of Directors of, showed caution and balance by commenting on the current situation of the Brazilian economy. It reiterated the need for growth to have sustainable bases and highlighted the importance of the famous macroeconomic, floating, target and fiscal responsibility.
At the same time, he sent his message to what seems to consider exaggerations of the speech of sectors linked to the financial world, obsessed with the “adjustment for adjustment” and with tendencies to “demonize growth”.
In his analysis, he drew attention to the emergency on the scene, next to the tripod, a new parameter to press the formulation and conduct of economic policy: “The point is that there is a fourth component today,” he said.
Such expectations are part of the hegemony process of financial capital. In Brazil, departments of consulting, banks and other institutions that operate in or to the market of papers ,,, credit etc. They develop models, make their predictions and projections, and manifest, under this technical apparatus, industry interests – with abundant foam in communication vehicles.
Trabuco, graduated in philosophy from USP and a case of modest employee ascension to the Bank’s top post, lived the time when the debate in the economy was marked by reasons for development, increased income and reduced inequalities. The so -called productive sector had greater relative importance, political economy was valued and major economists discussed strategies for overcoming underdevelopment.
All this, for good or for bad, is left behind. The exponents of macroeconomic discussions have been replaced by a legion of economists who act as accountants of public accounts and state reduction. It is the experts of the Focus Bulletin, oracle, in fact, sometimes out of focus, especially and symptomatically when the theme is growth, just see the misconceptions in GDP estimates.
It is a fact that this court generated its fruits, the country has grown, gained some muscles, but the distortions that the protagonism of the state generated, with incomplete modernization, uncontrolled spending and inflation – is also known in its geiselist version in.
It is not about returning to historically surpassed patterns, but the story should serve to calibrate visions about the future and not to throw the child along with the water of the basin. Hence the relevance of pondering a certain mystifying frenzy of tax in the public debate, fetish and panacea that wants to explain everything.
Trabuco raises, for example, the schematic associations around recent exchange rate elevations, which would have been caused, from this perspective, from a poor tax package, increased debt, etc. The dollar quotation drop this year does not help diagnosis.
Yes, we have tax problems and they need to be pointed out and faced. But be careful with the great certainties that serve to demarcate polarizations. It goes for the economy too. Trabuco’s words are a welcome counterpoint to the rhythm of this band.
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