Brazil’s economic and political rollercoaster

Michael Roberts Blog

The latest polls put Workers Party leader Lula de Silva ahead in the two-horse race with incumbent right-wing President Jair Bolsonaro in today’s final round of the presidential election in Brazil. If Lula wins, it will be a dramatic comeback for the former president after having been jailed for alleged corruption under the previous right-wing Temer regime; and then finally released and allowed to run again. A Lula victory will mean that the Workers Party has regained the presidency after losing it when last WP leader Dilma Rousseff was impeached by a right-wing Congress in a ‘soft coup’ in 2016.

The victory of ‘Tropical Trump’ Bolsonaro in 2018 was achieved mainly because of the disillusionment by sections of the working class with the Workers Party and the successful media campaign claiming that the WP was corrupt. After the collapse of commodity prices in resources and agriculture in 2014, the economy…

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