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Cruzado versus dollar – what is the true Brazilian currency?

Author

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  • Leonardo Fernando Cruz Basso

Abstract

The paper criticizes the so-called dollarization of Brazilian economy. The argumentis based on Marx’s discussion of the functions of money. The instrument elected to actas money needs to act as means of payment, i.e., must be used to pay for the commoditiesbeen transactioned. The dollar cannot yet perform this function because it does not exist ina volume sufficient to pay for the commodities been transactioned. JEL Classification: B51; E51; E31.

Suggested Citation

  • Leonardo Fernando Cruz Basso, 1990. "Cruzado versus dollar – what is the true Brazilian currency?," Brazilian Journal of Political Economy, Center of Political Economy, vol. 10(1), pages 126-132.
    • Handle: RePEc:ekm:repojs:v:10:y:1990:i:1:p:126-132:id:1528
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    More about this item

    Keywords

    Dollarization; inflation; Marxian economics;
    All these keywords.

    JEL classification:

    • B51 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Socialist; Marxian; Sraffian
    • E51 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Money Supply; Credit; Money Multipliers
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation

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