{"id":13274,"date":"2014-10-30T18:29:26","date_gmt":"2014-10-30T23:29:26","guid":{"rendered":"https:\/\/www.bu.edu\/pardeeschool\/?p=13274"},"modified":"2021-02-04T10:21:01","modified_gmt":"2021-02-04T15:21:01","slug":"cornel-ban-brazil","status":"publish","type":"post","link":"https:\/\/www.bu.edu\/pardeeschool\/2014\/10\/30\/cornel-ban-brazil\/","title":{"rendered":"Cornel Ban in Financial Times on Brazil Election Results"},"content":{"rendered":"<p><a href=\"\/pardeeschool\/files\/2014\/11\/BA-BG380_Emerg__G_20141031191143.jpg\"><img loading=\"lazy\" src=\"\/pardeeschool\/files\/2014\/11\/BA-BG380_Emerg__G_20141031191143-449x300.jpg\" alt=\"BA-BG380_Emerg__G_20141031191143\" width=\"449\" height=\"300\" class=\"alignleft size-medium wp-image-13275\" \/><\/a>Assistant Professor <a href=\"https:\/\/www.bu.edu\/pardeeschool\/academics\/faculty\/alphabetical\/cornel-ban\/\">Cornel Ban<\/a> of the Frederick S. Pardee School of Global Studies at Boston Univeristy wrote to the <em><a href=\"http:\/\/www.ft.com\/intl\/cms\/s\/0\/86a582ce-5f97-11e4-986c-00144feabdc0.html?siteedition=intl#axzz3Hk0ZKTtb\">Financial Times<\/a><a href=\"http:\/\/www.ft.com\/intl\/cms\/s\/86a582ce-5f97-11e4-986c-00144feabdc0,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2F86a582ce-5f97-11e4-986c-00144feabdc0.html%3Fsiteedition%3Dintl&amp;siteedition=intl&amp;_i_referer=http%3A%2F%2Fsearch.ft.com%2Fsearch%3FqueryText%3Dcornel%2Bban#axzz3Hyp82I1p\"><\/a><\/em> to comment on how the results of the Brazilian elections suggest a divided country and that &#8220;given\u00a0the large reductions in inequality obtained by government programmes financed by the commodity boom, [President] Dilma Rousseff\u2019s narrow victory was disappointing.&#8221;<\/p>\n<p>In a letter published in the <a href=\"http:\/\/www.ft.com\/intl\/cms\/s\/0\/86a582ce-5f97-11e4-986c-00144feabdc0.html?siteedition=intl#axzz3Hk0ZKTtb\"><em>Financial Times<\/em><\/a> on October 30, 2014, Prof. Cornel Ban writes:<\/p>\n<blockquote><p>The PT Workers\u2019 party\u2019s inclusive growth policies gave the many winners of the PT\u2019s socio-economic policies higher expectations about the good life, which means that the government has to get its act together on providing better health, education, public transit and income support for the poor. This must happen in tandem with policies that can increase the investment rate, further diversify its economy and modernise the sclerotic sectors of the state bureaucracy. The onset of a new gloom in emerging economies and the end of the commodity supercycle will certainly make the job harder.<\/p>\n<p>It is also less clear that financial markets will force an adjustment on her administration simply because Ms Rousseff has a penchant for leftist interventionism in the economy. President Luiz In\u00e1cio Lula da Silva\u2019s election run more than a decade ago was also greeted by a stiff sell-off. Although he enacted policies that were far to the left of the policy status quo following his landslide victory, markets were in fact bullish on Brazil. Markets regularly deviate from economic orthodoxy and this is all the more true when it comes to countries like Brazil, who have reduced their dependence on foreign creditors. Brazil may be politically divided on Ms Rousseff, but PT\u2019s commitment to and proven record at shrinking class differences made Brazil less economically polarised. Evidence shows that this is good not only for democracy and labour but also for the domestic financial stability, higher demand and higher productivity that capital wants.<\/p><\/blockquote>\n<p>He concluded by <a href=\"http:\/\/www.ft.com\/intl\/cms\/s\/0\/86a582ce-5f97-11e4-986c-00144feabdc0.html?siteedition=intl#axzz3Hk0ZKTtb\">arguing<\/a> that &#8220;the results of the presidential election indicate a demand for recalibrating PT\u2019s agenda, not its evisceration through an orthodox credibility shock.&#8221;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cornel Ban writes to the Financial Times explaining what the Brazilian election results mean.<\/p>\n","protected":false},"author":1562,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[8410],"tags":[9961],"_links":{"self":[{"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/posts\/13274"}],"collection":[{"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/users\/1562"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/comments?post=13274"}],"version-history":[{"count":4,"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/posts\/13274\/revisions"}],"predecessor-version":[{"id":13279,"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/posts\/13274\/revisions\/13279"}],"wp:attachment":[{"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/media?parent=13274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/categories?post=13274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bu.edu\/pardeeschool\/wp-json\/wp\/v2\/tags?post=13274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}