Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/206649 
Year of Publication: 
2019
Series/Report no.: 
CHOPE Working Paper No. 2019-20
Publisher: 
Duke University, Center for the History of Political Economy (CHOPE), Durham, NC
Abstract: 
Paul Samuelson was attracted to the economic dynamics of South American countries because of the links between economic performance and political factors. He discussed the influence of 'populist democracy' on Argentina's relative stagnation, which, he argued in the 1970s and early 1980s, served as a dangerous paradigm for the American economy under stagflation. Moreover, he applied his concept of "capitalist fascism" to deal with military dictatorships in Brazil and (especially) in Chile. The Brazilian translation of his Economics in 1973 brought about a correspondence with Brazilian economists about the "fascist" features of the regime. The main variable behind the South American economic and political processes discussed by Samuelson was inequality, which became also a feature of the American economy since the adoption of market-based policies in the 1980s and after.
Subjects: 
Samuelson
populism
capitalist fascism
South America
economic development
inequality
JEL: 
B22
O11
Document Type: 
Working Paper

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