Braudel Papers is published bimonthly, in Portuguese and English editions. The World Bank is sponsoring a new Russian language edition for use in its seminars and training programs in Russia. The following issues are posted on this gopher:

POLITICS AND MARKETS. Braudel Papers No.1.

This dialogue between Norman Gall, the Institute's executive director, and Jeffrey Sachs, of Harvard University, explores institutional functions related to chronic inflation in countries which are seeking to consolidate democracy while dealing with an unbalanced economic situation. Exploring hyperinflationary tendencies in Brazil and Russia, this edition of Braudel Papers analyzes experiences of economic reform in Latin America and the former Soviet Bloc.

FEDERALISM AND INFLATION. Braudel Papers No. 2. Author: Aspasia Camargo, president of the Brazilian government's economic research institute, IPEA, and a member of the Fernand Braudel Institute of World Economics.

This essay focuses on separatism and the political cohesion of Brazilian states in the midst of the Brazilian economic crisis. The author examines themes such as the redistribution of fiscal entitlements, aggravated by the 1988 Constitution, and deranged economic transfers from the federal government to states and municipalities.

THE BRAZILIAN CONCEPT OF MONEY. Braudel Papers No. 3. Author: Professor Celso Martone, of the University of Sao Paulo, a founding member of the Institute.

Professor Martone, a specialist in monetary policy and macroeconomics, analyzes recent Brazilian monetary policy, focusing in depth on the difficulties of using conventional methods of currency management and credit in Brazil and the effects this has had on income distribution. Martone details the process by which chronic inflation destroys the national fiscal system (through the collective irresponsibility of the public sector in generating the maximum deficit allowed by current debt) and the monetary system (through an indexed currency which replaces the conventional means of exchange).

THE FABLE OF THE BEES. Braudel Papers No.4. Author: Eduardo Giannetti da Fonseca, of the University of Sao Paulo, author of ~Vicios Privados, Beneficios Publicos?~ and ~Beliefs in Action.~ Giannetti wrote this edition as Octavio Gouvea de Bulhoes Research Professor at the Fernand Braudel Institute of World Economics.

This edition details Giannetti's argument with the 18th century work of Bernard de Mandeville. It is excerpted from Giannetti's book ~Vicios Privados, Beneficios Publicos?~ and was the basis for a four part series of seminars at the Fernand Braudel Institute of World Economics.

TRADE, POWER AND THE FUTURE, Braudel Papers No.5. Author: Rubens Ricupero, Brazil's Finance Minister and President of the Fernand Braudel Institute of World Economics. Until recently he was Minister for Amazonia and the Environment, previously he served as Ambassador to the United States and headed the GATT in Geneva.

Ricupero, one of Brazil's most distinguished public servants, takes a look at foreign policy in the wake of the Cold War, emphasizing the unipolar nature of the political system and the multipolar economic system which counterbalances it.

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Posted: 20 Jun 1994