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Brazil needs to reverse course to revive economy
Caving to powerful financial interests hasn’t worked
August 7, 2015 2:00AM ET
by Mark Weisbrot @MarkWeisbrot
Luíz Inácio “Lula” da Silva won the presidency of Brazil on his fourth attempt, in an overwhelming victory in October 2002. His Workers’ Party (PT) ushered in a new era for the country’s previously disenfranchised majority, with the economy from 2004 to 2010 more than doubling its rate of growth of the previous 23 years. Poverty declined by 55 percent and extreme poverty by 65 percent from 2003 to 2012. Unemployment hit record lows, the real (inflation adjusted) minimum wage doubled, and the gains from growth were more equally distributed than in previous decades.
http://america.aljazeera.com/opinion...e-economy.html
Caving to powerful financial interests hasn’t worked
August 7, 2015 2:00AM ET
by Mark Weisbrot @MarkWeisbrot
Luíz Inácio “Lula” da Silva won the presidency of Brazil on his fourth attempt, in an overwhelming victory in October 2002. His Workers’ Party (PT) ushered in a new era for the country’s previously disenfranchised majority, with the economy from 2004 to 2010 more than doubling its rate of growth of the previous 23 years. Poverty declined by 55 percent and extreme poverty by 65 percent from 2003 to 2012. Unemployment hit record lows, the real (inflation adjusted) minimum wage doubled, and the gains from growth were more equally distributed than in previous decades.
http://america.aljazeera.com/opinion...e-economy.html