By Miguel Arraes
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The table below for the period now under examination (1945-61) shows the movement of the accelerated rise in prices ! Price index 1945 1950 1955 1960 I¢l 100 165 }68 1014 1530 In the �ollowing years the rise in prices was still greater . and m£latlon reached something like 80 or 90 per cent per annum. Industrial gro,:th based on the substitution of home-pro duced goods for Imports, the indiscriminate protection mea. �ures a�d the monopolistic conditions of operation of the mdustrJal sector ensured it an excessive profit margin.
In these two cases the whole of the produce is placed on the national or international market. Under the cambiio system the tenant undertakes to pay his rent in work for the landlord; a part of his time is spent in cultivation of the estate of his landlord, to whom all the produce belongs, and the rest of his time is spent working on the land rented to him. Here. too, all the produce reaches the consumer through the trade channels. 57 allowed them to concentrate in their own hands a very large share of economic power and produced by this sector.
This trend con tinued in the following years. If allowance is made for the operation of public undertakings and the direct and massive transfers of public money to private enterprise the consider able amount of State participation would be even more strikingly obvious. Yet during this period, despite the apparent economic and political rise of the nationalist bourgeoisie, the pressure from foreign capit al and its penetration into the country did not grow less. Leaving aside no possible means of pressure on succeeding governments and on private groups, imperialism made use of investments in the key sectors of the national economy as its favourite method of securing control and domination of an industrial development which it found it quite impossible to prevent.
Brazil: The People and the Power (Latin American Library) by Miguel Arraes