Os Bancos Centrais e sua ambivalência público-privada [Central Banks and their public-private nature]

The paper analyzes the historic origin of Central Banks, from three basic processes: the evolution and convergence of the free banking system to a hierarchical and centralized system in the Central Bank; the transformation of Clearing Houses in Central Banks, and finally, the processes by which governmental banks were assuming Central Bank’s functions and transforming themselves in Central Banks. The assumes the hypothesis by which the Central Banks were not created arbitrarily by Government, but from the evolution of private banking system suffering periodic crises, which needed public intervention. Finally, the paper concludes that this historic origin grounds the ambivalent public-private nature in Central Banks.bank, Central Bank, finance system

Economia Nacional e Capitalismo: Um Enfoque Histórico-Metodológico

The paper aims to analyze, in a historical perspective, as well as in a theoretical view, the unity and the contradiction between national economies and capitalism. On the one hand, in a historical perspective, it demonstrates that the unity takes place in the period of consolidation of capitalism as a national economy. It also argues that the contradiction means that the capitalist development implies a commercial, productive and financial progressive opening of the national economies. Moreover, it shows that the globalization process of capitalism takes form through three historical configurations: the “inter-national”, the “multi-national” and the global configuration. On the other hand, in a theoretical view point, the article argues that the capitalist globalization process is irreversible.Economia Nacional, Capitalismo, Globalização

Dinheiro, instabilidade e gestão monetário: de Minsky a Marx

The purpose of this paper is to analyse the limits and possibilities of monetary policy in today's capitalism. To do that it studies Minsky's views on the problem of the instability of the credit system and the concept of money in Marx. The intended conclusion is that the dilemmas of monetary policy are related to the nature itself of money in capitalism.The purpose of this paper is to analyse the limits and possibilities of monetary policy in today's capitalism. To do that it studies Minsky's views on the problem of the instability of the credit system and the concept of money in Marx. The intended conclusion is that the dilemmas of monetary policy are related to the nature itself of money in capitalism