The "Miracle of Chile" was a term used by economist Milton Friedman to describe the reorientation of the Chilean economy in the 1980s and the effects of the economic policies applied by a large group of Chilean economists who collectively came to be known as the Chicago Boys, having studied at the University of Chicago where Friedman taught. He said the "Chilean economy did very well, but more importantly, in the end the central government, the military junta, was replaced by a democratic society. So the really important thing about the Chilean business is that free markets did work their way in bringing about a free society." The junta to which Friedman refers was a military government that came to power in a 1973 coup d'état, which came to an end in 1990 after a democratic 1988 plebiscite removed Augusto Pinochet from the presidency.
The military dictatorship in Brazil, occasionally referred to as the Fifth Brazilian Republic, was established on 1 April 1964, after a coup d'état by the Brazilian Armed Forces, with support from the United States government, against president João Goulart. The Brazilian dictatorship lasted for 21 years, until 15 March 1985.
Emílio Garrastazu Médici was a Brazilian military leader and politician who was the 28th president of Brazil from 1969 to 1974. His authoritarian rule marked the apex of the Brazilian military regime.
The Japanese economic miracle refers to Japan's record period of economic growth between the post-World War II era and the beginning of the global Oil Crisis (1955–1973). During the economic boom, Japan rapidly became the world's third-largest economy, after the United States and the Soviet Union. By the 1970s, Japan was no longer expanding as quickly as it had in the previous decades despite per-worker productivity remaining high.
The economic history of Brazil covers various economic events and traces the changes in the Brazilian economy over the course of the history of Brazil. Portugal, which first colonized the area in the 16th century, enforced a colonial pact with Brazil, an imperial mercantile policy, which drove development for the subsequent three centuries. Independence was achieved in 1822. Slavery was fully abolished in 1888. Important structural transformations began in the 1930s, when important steps were taken to change Brazil into a modern, industrialized economy.
The economic history of the Republic of Turkey had four eras or periods. The first era had the development policy emphasizing private accumulation between 1923 and 1929. The second era had the development policy emphasized state accumulation in a period of global crises between 1929 and 1945. The third era was state-guided industrialization based on import-substituting protectionism between 1950 and 1980. The final, era was the opening of the economy to liberal trade in goods, services and financial market transactions since 1981.
The Greek economic miracle describes a period of rapid and sustained economic growth in Greece from 1950 to 1973. At its height, the Greek economy grew by an average of 7.7 percent, second in the world only to Japan.
The Mexican Oil Boom was an oil boom from 1977 to 1981 which eventually led to a disastrous crash that lasted for most of the 1980s, driving the economy to a payment default and a significant deficit correction as oil prices fell.
The 1990s economic boom in the United States was a major economic expansion that lasted between 1993 and 2001, coinciding with the economic policies of the Clinton administration. It began following the early 1990s recession during the presidency of George H.W. Bush and ended following the infamous dot-com crash in 2000. Until July 2019, it was the longest recorded economic expansion in the history of the United States.
The 1973–1975 recession or 1970s recession was a period of economic stagnation in much of the Western world during the 1970s, putting an end to the overall post–World War II economic expansion. It differed from many previous recessions by involving stagflation, in which high unemployment and high inflation existed simultaneously.
The post–World War II economic expansion, also known as the postwar economic boom or the Golden Age of Capitalism, was a broad period of worldwide economic expansion beginning with the aftermath of World War II and ending with the 1973–1975 recession. The United States, the Soviet Union, Australia and Western European and East Asian countries in particular experienced unusually high and sustained growth, together with full employment.
The Vanguarda Armada Revolucionária Palmares was a far left guerrilla organization in Brazil, which fought against the military dictatorship installed after the 1964 coup d'état in the country with the objective to implant a communist dictatorship. The organization was named after Palmares, a legendary quilombo destroyed by Portuguese artillery in 1694. It was created in July 1969, as a result of the merger between Comando de Libertação Nacional (Colina) and Vanguarda Popular Revolucionária, led by anti-dictatorship Army Captain Carlos Lamarca.
Antônio Delfim Netto was a Brazilian economist, academic, and politician who was the Minister of Finance, Agriculture, and Planning, as well as a congressman. During his incumbency as Minister of Finance of Brazil, the country experienced the so-called Economic Miracle, a time of unprecedented economic growth.
From mid-2014 onward, Brazil experienced a severe economic crisis. The country's Gross Domestic Product (GDP) fell by 3.5% in 2015 and 3.3% in 2016, after which a small economic recovery began. That recovery continued until 2020, when the COVID-19 pandemic began to impact the economy again.
Miriam Azevedo de Almeida Leitão is a Brazilian journalist and television presenter. She has a program at GloboNews and is a commentator on economics at TV Globo's Bom Dia Brasil and writes the column Panorama Econômico in the newspaper O Globo. She is the mother of two sons, Vladimir Netto (1973) and Matheus Leitão (1977).
On October 4, 1963, the President of Brazil João Goulart, sent to the National Congress a request for a state of exception for 30 days throughout the national territory. Citing the crisis and the threat of internal disturbances as justification, it was based on Congress's resistance to approving the reforms desired by the Executive, as well as the need to assert itself before the opposition. Its immediate antecedent was an interview by Carlos Lacerda, governor of Guanabara, to the American newspaper Los Angeles Times. Lacerda spoke explicitly of the possibility of Goulart being deposed by the military. The Ministers of War, Navy and Air Force, outraged, wanted forceful action against the governor, who was a right-wing oppositionist. The state of exception would possibly be accompanied by federal intervention in some states, and is associated with a military plan to arrest Lacerda and an operation in Pernambuco, governed by leftist Miguel Arraes, who was against the measure. The proposal was rejected by both the right and the left, who felt they could also be targeted by the exceptional powers. Without support, the President withdrew the proposal on October 7, and his political position was weakened.
Brazil's economic policy can be broadly defined by the Brazilian government's choice of fiscal policies, and the Brazilian Central Bank’s choice of monetary policies. Throughout the history of the country, economic policy has changed depending on administration in power, producing different results.
The presidency of José Sarney, also called the José Sarney government was a period in Brazilian political history that corresponds to José Ribamar Ferreira Araújo da Costa Sarney's first mandate as President of the Republic until his succession by Fernando Collor. Sarney took over the position on an interim basis after Tancredo Neves was hospitalized, and definitively on 21 April 1985, with his death, when Sarney became the first civilian president after more than twenty years of military dictatorship in Brazil.
General Ernesto Geisel's tenure as the 29th president of Brazil began with his inauguration on 15 March 1974 and ended on 15 March 1978 when General João Figueiredo took office.
The presidency of Emílio Médici began on 30 October 1969, after General Emílio Garrastazu Médici won the 1969 presidential election, and ended on January 31, 1974, when Ernesto Geisel took office.
