Brazil's Road to Serfdom

Review of Austrian Economics, Forthcoming

36 Pages Posted: 22 Jun 2020

See all articles by J. Robert Subrick

J. Robert Subrick

James Madison University- Department of Economics

Anna Faria

University of Colorado, Colorado Springs

Date Written: May 28, 2020

Abstract

This paper applies Hayek’s arguments in “The Road to Serfdom” to the case of Brazil in the first three decades of the twentieth century. We describe the Brazilian experiment under a liberal regime from 1892 and 1930 and the causes of its demise. We identify these causes as stemming from a shift in the political ideology following World War I and the breakdown of the constitutional rule of limited government. We argue that the Hayekian analysis of “The Road to Serfdom” correctly identifies these causes as stemming from an ideological and practical over-reliance on government’s capacity to direct the economy.

Keywords: Political Economy, Brazil, F.A. Hayek

JEL Classification: B53, N46, O54, P48

Suggested Citation

Subrick, J. Robert and Faria, Anna, Brazil's Road to Serfdom (May 28, 2020). Review of Austrian Economics, Forthcoming, Available at SSRN: https://ssrn.com/abstract=3612805

J. Robert Subrick (Contact Author)

James Madison University- Department of Economics ( email )

421 Bluestone Drive MSC 0204
Harrisonburg, VA 22807
United States
540-568-3083 (Phone)

Anna Faria

University of Colorado, Colorado Springs ( email )

1420 Austin Bluffs Parkway
Colorado Springs, CO 80918-7150
United States

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