Financialisation in emerging economies: changes in central banking

Abstract

Juan Pablo Painceira's new book addresses a crucial topic for a proper understanding of capitalism today. It is all the more relevant because it is a study conducted by one of Brazil's most brilliant Marxist economists, and one of the few who can competently combine broad theoretical knowledge with deep experience in the workings of the so-called “financial market.” This is facilitated by the fact that Juan Pablo is an employee of the Brazilian Central Bank, a circumstance that has allowed him to masterfully understand the roles and actions of central banks in the current phase of capitalism. This is a seminal book for the proper understanding and elucidation of global capitalism and the particular way it manifests itself in our country in this period of structural crisis of capital.