Brazil Recession the Reality of Term Paper

Download this Term Paper in word format (.doc)

Note: Sample below may appear distorted but all corresponding word document files contain proper formatting

Excerpt from Term Paper:



Jeter's assertion that "debt is merely exploitation by another name, a way for party a to get over on party B," is overly-simplistic and inflammatory enough to cause one to doubt that rationales of any of his arguments (Jeter 56). While debt certainly can be constructed in such a way as to create usurious processes whereby the borrower is in constant debt to the extreme benefit of the lender, in other instances it is a valuable economic tool that many individuals and businesses depend on. Very few families would be able to buy homes without incurring debt; few small business could get started and even major corporations would have trouble operating continuously without available capital.

The Recession's Aftermath

The most egregious oversight in Jeter's account of the recession that Brazil experienced in 2003 is the fact that he ignored all of the positive economic indicators that existed at the same time, as well as the turn that the country's economy took the following year. Interest rates were being lowered by Brazil's central bank beginning in the middle of 2003, long before the gift-sending sail boat expedition described so emotionally by Jeter, and the agricultural and certain export sectors continued to grow healthily during the recession, leading to a positive outlook for many investors (MercoPress 2003). This was all occurring during the period Jeter is writing about, and in fact occurred before he gathered much of his direct on-the-ground information in Brazil, yet it fails to receive any mention in this chapter, with Jeter instead focusing on the human stories of unemployment and hard times that he is able to find, with anecdote standing in for evidence.

It should also be noted that, in addition to the rosier economic indicators occurring during and prior to Jeter's primary research into the Brazilian situation, he is writing form the vantage point of more than five years in the future. This means that he is presumably fully aware the Brazil's economy experienced record growth in the five years between 2003's minor recession and the global recession that occurred in 2008 (Loudiyi). One would assume that Jeter has access to the fact that Brazil's extreme poverty rate was reduced by more than two percent in each of these years, and that it remains on target to eradicate extreme poverty by 2016 (Loudiyi).

One would assume that Jeter has access to this information and the wherewithal to seek it out, given that he is writing a book about the economic situations and indicators of the modern globalized world and how it supposedly creates poverty, and one would wonder at the lack of any of this information in Jeter's text. It is certainly inconvenient for his argument to show that Brazilian unemployment dropped during these five highly productive years while average annual incomes rose, and while interest rates remained relatively high in order to control growth and inflation (Loudiyi). Essentially, what this information -- and even more so, what Jeter's decision not to include this information in his book -- suggests is that the human stories of unemployment and economic devastation that Jeter was able to find without much difficulty are indicative of extremes rather than norms, and were not long-lasting situations for the vast majority of Brazilians regardless of their extremity.

Conclusion

Unemployment and a shrinking economy obviously hurts real people, and it is not surprising that Jeter found the stories he did during Brazil's brief 2003 recession. It is likely that he could find similar stories in Brazil now, even though the country is largely climbing out of the global recession, with a fair amount of ease, just as he could likely have found them at the height of Brazil's record growth. The ability to locate people suffering economic troubles is not an indicator that the system as a whole is failing, but rather is an unfortunate yet natural consequence of a market system.

Works Cited

Jeter, Jon. Flat Broke in the Free Market. New York: Norton, 2009.

Loudiyi, Isshane. "Brazil Still on the Fast Track for Growth." World Bank. Accessed 30 April 2010. http://blogs.worldbank.org/growth/category/countries/brazil

MercoPress. "Brazil in recession." South…[continue]

Cite This Term Paper:

"Brazil Recession The Reality Of" (2010, May 01) Retrieved December 10, 2016, from http://www.paperdue.com/essay/brazil-recession-the-reality-of-2531

"Brazil Recession The Reality Of" 01 May 2010. Web.10 December. 2016. <http://www.paperdue.com/essay/brazil-recession-the-reality-of-2531>

"Brazil Recession The Reality Of", 01 May 2010, Accessed.10 December. 2016, http://www.paperdue.com/essay/brazil-recession-the-reality-of-2531

Other Documents Pertaining To This Topic

  • Latin America American Terrorism Issues and Possible

    Latin America American terrorism issues and possible convergence with drug cartels in Central and South America Terrorism in Latin America Columbia The leftist National Liberation Army (ELN) United Self-Defense Forces of Colombia (AUC) The leftist Revolutionary Armed Forces of Colombia (FARC) Cuba Venezuela Mexico Iranian Activity and Sponsorship Focus Tri- Boarder area of Argentina, Brazil and Paraguay Regional Overview and Criminal Activities and Concerns Parallel developments of Terrorism and Organized Crime Poverty, Discrimination and Relative Denial Interconnections between Terrorism and Organized Crime Groups Abu Nidal organization (ANO) The

  • Slavery in Colonial America Slavery

    Virginia's code lagged far behind South Carolina's of 1696 and the earlier British island codes" (Vaughn 306). These early slave codes also served to further differentiate the appropriate legal rights that were afforded white indentured servants compared to their enslaved African counterparts. In this regard, Leon Higgenbotham adds that "at the same time the codes were emphatic in denying slaves any of the privileges or rights that had accrued to

  • Cross Country Capital Flows and Currency International Project

    Cross-Country Capital Flows and Currency International Project overseas investment . GLOBAL INSTITUTES IN INTERNATIONAL FINANCE . INTERNATIONAL FINANCE CORPORATION . WORLD BANK . WORLD TRADE ORGANIZATION INTERNATIONAL MONTARY FUND . INTERNATIONAL FINANCE IN CHINA . BANKING INSTITUTES NON-BANKING INSTITUTES THE EXCHANGE RATE FIASCO FINANCIAL CRISIS IMPACTS ON SINO-AMERICAN RELATIONSHIP RECESSION'S AFFECT ON CHINA . ASIAN MONETARY FUND . CHINA'S TRADE POLICIES AND THEIR CONTRIBUTION TO THE FINANCIAL CRISIS Monetary policy is the study of circulation of money, the granting of credit, the making of investments and

  • Authoritarian Regimes Authoritarianism Has Been a Historically

    Authoritarian Regimes Authoritarianism has been a historically produced phenomenon in reaction to state crises of political order. Its primary feature has actually been elitist dictatorship, with the periodic cult of character. It is a feedback to democratic failure, social polarization, financial stagnation, and worldwide weakness, which typically becomes the reason for its stamina. An additional reason for its stamina is that it normally works out sovereign power with single-party guideline, and

  • Strategy and Policies of the

    This is important, because physics has allowed the combustible engine to provide the world with a cost effective solution for traveling long distance. Sadly, the electric car can only be used for short to medium distances. Then, there is another potential problem that could be developing with the lithium batteries that are used, where China control 95% to 100% the resources for these batteries (lithium). This is problematic because

  • Independence Less Than Half a

    Notwithstanding the challenges involved, the stakes are high and there is little room for false starts or experimentation; therefore, identifying a general set of best practices that Gambian organizations can follow in developing their own set of sustainable productivity practices represents a valuable and timely undertaking, which relates to the purpose of the study which is discussed further below. Purpose of Study The overall purpose of this study was to study

  • Toyota Strategic Management Assessment Toyota s Dominance in

    Toyota Strategic Management Assessment Toyota's dominance in the global automotive industry is the result of their ability to orchestrate many potentially conflicting priorities into a common strategic direction. The Toyota Production System (TPS) is a case in point, which is one of the most advanced planning, scheduling and supply chain management (SCM) systems and architectures globally (Fane, Vaghefi, Cheryl, Woods, 2003). Despite these strengths however, Toyota struggled with the areas of


Read Full Term Paper
Copyright 2016 . All Rights Reserved