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The Financial Crisis of Abolition (Hardcover)
Loot Price: R2,046
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The Financial Crisis of Abolition (Hardcover)
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From 1850 to 1914, Brazil enjoyed a long period of political and
financial stability that was interrupted just once. During this
rupture, 1889-1894, the country suffered two successful
coups-d'etat, military government, civil war, and a disastrous
decline in the value of the national currency. The five years of
disorder and crisis came in the wake of the nation's abolition of
slavery and related financial repercussions. This book examines
Brazil's crisis years, for the first time setting post-slavery
financial decisions within their international and local historical
contexts. Arguing against the "European dependency" interpretation
of Brazil's history, John Schulz explains how planters' demands for
easy credit after abolition were met with shortsighted economic
policies. The failure of the expansionary monetary policy of the
1890s not only illuminates Brazil's history, it also suggests
lessons relevant to financial and political decisions being made
today.
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