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2022 | Book

Wealth and Poverty in Contemporary Brazilian Capitalism

Editors: Gustavo Moura de Cavalcanti Mello, Henrique Pereira Braga

Publisher: Springer International Publishing

Book Series : Marx, Engels, and Marxisms

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About this book

This book analyses contemporary capitalism from Brazil and from the Marxian critique of political economy, particularly; the co-dependency of wealth and poverty and of civilization and barbarism; the current tendency towards capital over-accumulation and the specific form assumed by the capitalist crisis in recent decades; the financialisation process of capital accumulation, its effects on the world of labour; and the place that the state assumes in this broad process. Current trends toward increasing social inequality, impoverishment of large sections of the population, precariousness of labour and rising unemployment, environmental destruction, the spread of austerity policies and the suppression of social policies, the rise of the far right (together with the strengthening of racism, misogyny, xenophobia, political and religious fanaticism and all manner of intolerance, etc.), low economic growth, the primacy of the financial dimension of capital accumulation, all need to be understood in their multiple and complex articulations, as fundamental and inherent elements of contemporary capitalism, associating empirical analysis with conceptual construction. Because they are strictly contradictory processes, a dialectical approach is required that reclaims the Marxian legacy, and aims to contribute to updating it, seeking to bring new and relevant elements to the Marxist debate, based on a specific interpretation of Marx's work, and as an immediate empirical basis the Brazilian reality.

Table of Contents

Frontmatter
Chapter 1. Introduction
Abstract
Introduction of the Book’s theme and chapters.
Gustavo Moura de Cavalcanti Mello, Henrique Pereira Braga
Chapter 2. In the Bowels of Capital: On Modern Barbarism
Abstract
The present chapter dealing with the Marxian concept of barbarism, showing that it understands direct and indirect violence as the foundation of contemporary social relationships, and the increasingly complete reduction of people and the environment to mere means for the endless purpose of capital accumulation, seems to provide important elements for the comprehension of a whole set of contemporary social dilemmas. Such as the increase of social inequalities, so-called structural unemployment, the precariousness of work, the militarisation of society, and the proliferation of wars and environmental disasters with their associated masses of refugees, among others. Far from a prophetic view, it is a keen understanding of the fundamental determinations proper to capitalist social formations, that will be analysed in this chapter by means of recent related phenomena that are unfolding in Brazil, but that in no way are exclusive to it, such as growing social inequality and the expansion of poverty, unemployment and the concentration of income and property; the growing militarised control of urban territories by state and especially para-state forces (militias); mass incarceration; and the accelerated expulsion of indigenous populations in order to open vast territories to extractive exploitation, agriculture and land speculation.
Gustavo Moura de Cavalcanti Mello
Chapter 3. Rethinking Wealth and Poverty in Capitalist Society
Abstract
The recent debate on wealth and income inequality has brought the phenomenon of material abundance amidst profuse poverty into the public sphere. Economic science has mainly argued about the dysfunctionality of this inequality. In doing so, they argue that poverty is a distinct phenomenon, unrelated to the production of wealth itself. This chapter begins by exposing the concepts of wealth and poverty that underlie this view of economic science by presenting the recent Brazilian debate on such theme. From this debate, we revisited Marx’s studies on the nature of modern society and some of his readings in Brazil in order to argue that the very process of production and reproduction of wealth engenders poverty, which produces a “monetary subject without money”.
Henrique Pereira Braga
Chapter 4. Financialisation, Work and Gender: Violence and Barbarism in Ultraliberal Brazil
Abstract
The objective of this chapter is to discuss recent institutional changes in Brazil that express a universal movement towards a capitalist mode of production that accumulates value through violence. In the first section, we set out the theoretical basis of capital accumulation through violence, to expose the intrinsic relationship between economy and power from which exploitation and oppression can be discussed as parts of a single totality, even though their spatial and historical particularities may be expressed in different ways. In the second section, the text discusses two trends that express this process of capital accumulation through violence in contemporary Brazil. The first is the adverse effects of fiscal austerity in a country with a subordinate position in the processes of the globalisation of production and under financial dominance. The second trend is the implementation of a reform agenda, with unpopular legislative changes, that has attacked hard-won workers’ rights. The chapter main conclusion is that the institutionalisation of fiscal austerity and the attacks on the hard-won employment rights of Brazilian workers are manifestations of a universal movement of capitalist production at the periphery, a process that accumulates capital through violence and that has a distinct hint of barbarism towards women.
Ana Paula Colombi, Lívia de Cássia Godoi Moraes
Chapter 5. Marx and the Category of Fictitious Profits: Some Notes on the Brazilian Economy
Abstract
Financialisation theories have occupied an important place in the debate about contemporary capitalism and its transformations, involving a set of ideas from renowned researchers around the world. Although not an easy task, revisiting them is necessary, especially from the perspective of the critique of political economy. As the spaces of accumulation tend to change within the current dynamics of world capitalism, with fictitious capital as the centre of analysis, works by contemporary authors have sought to capture some of these changes that affect both the macroeconomics, especially regarding the microeconomic politics of austerity and its recessive effects, and the microeconomics, from the perspective of firms, especially those listed on the stock exchange, a totality that moves with its own characteristics. This debate must be umbilically linked to the fundamental categories of the critique of political economy, such as commodity and its various forms, money, and its development, as well as capital and its autonomous functional forms. It is from these categories and their movements that we will aim to reflect on the finacialisation, using as an example some indicators of the Brazilian economy.
Adriano Lopes Almeida Teixeira, Mauricio de Souza Sabadini
Chapter 6. Dollar Hegemony Under Challenge and the Rise of Central Bank Digital Currencies (CBDC): A New Form of World Money?
Abstract
This chapter is dedicated to study the prospects for maintaining the dollar as the world money in a world with the emergence of private and state cryptocurrencies. The main objective is to understand the differences between digital currencies, such as bitcoin, and sovereigns, such as the e-renminbi, in the light of the role played by money in the global dynamics of capital accumulation, and particularly its function as world money. It sets out to understand the impacts of the emergence of digital currencies on the international monetary system, and the place occupied in it by Brazil.
Gustavo Moura de Cavalcanti Mello, Paulo Nakatani, Erebus Wong
Chapter 7. Brazil Amid the Structural Crisis of Capital
Abstract
The chapter revisits the historical constraints that, since the 1970s, have resulted in the unique way in which the Brazilian economy has been captured in an organised worldwide speculative trap. This approach considers the structural consequences of this subordination process to be inheritances of the Old Colonial System, in at least four basic dimensions: (a) landowning structures, as the founding element of a decolonisation movement; (b) the late, incomplete, technologically discontinuous and specialised inclusion of domestic production into the imperialist industrialisation process; (c) the requirement for a diversified range of production relationships, which combines the expansion of salary controls with the large-scale maintenance of archaic forms of exploitation; (d) the reproduction of an extremely authoritarian political regime as a requirement for the continuation of the subaltern logic of transferring wealth abroad; which, in addition to imposing traditional internal prehistoric disputes over the appropriation of the marginal portions of wealth left by imperialist forces, now refocuses on the task of participating internationally in generating fictitious wealth, in particular through the management of public debt.
Helder Gomes
Chapter 8. Final Words
Abstract
This chapter presents a synthesis from the main book’s ideas, relating it with the recent events in Brazilian society.
Gustavo Moura de Cavalcanti Mello, Henrique Pereira Braga
Backmatter
Metadata
Title
Wealth and Poverty in Contemporary Brazilian Capitalism
Editors
Gustavo Moura de Cavalcanti Mello
Henrique Pereira Braga
Copyright Year
2022
Electronic ISBN
978-3-030-82298-9
Print ISBN
978-3-030-82297-2
DOI
https://doi.org/10.1007/978-3-030-82298-9

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