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Home Publications Blogs Beat the Press NYT Has Determined That Brazil's Neo-Liberal Policies Were Necessary to Allow Growth

NYT Has Determined That Brazil's Neo-Liberal Policies Were Necessary to Allow Growth

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Tuesday, 26 August 2014 04:48

That's right, you might have thought there was a debate on whether the neo-liberal policies pursued by Brazil and other Latin American countries promoted or retarded growth, but the NYT settled the issue. It refers to the policies put in place by Social Democratic Party from 1994-2002 and then tells readers:

"The measures vanquished galloping inflation, opening the way for the next decade’s growth."

This voice of authority should perhaps explain why it took seven years of moderate inflation before growth could pick up. Inflation fell back to 6.9 percent in 1997 (it had been over 1000 percent), the growth rate crossed 5.0 percent in 2004 and remained at a respectable pace until the world financial crisis led to a recession in 2009.

 

Comments (1)Add Comment
Not Surprising
written by Benjamin Levy, August 27, 2014 3:55
You would have to be a fool to rely on ANY of the mainstream media.

PS: No, I am not exclusively referring to the liberal ones.

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About Beat the Press

Dean Baker is co-director of the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, his latest being The End of Loser Liberalism: Making Markets Progressive. Read more about Dean.

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