Study of the double impact of Petrobras' performance between 2016 and 2022
recovery of the general rate of profit and interdepartmental disproportion
Abstract
Considering both Maria da Conceição Tavares’ formulation that Brazilian crises are due to the decline in the diffusion capacity of dynamic sectors, and the historical role of Petrobras in the process of import substitution industrialization through its purchasing policy aimed at the domestic market, the objective of this paper is to analyze the consequences of the 2014-2015 crisis based on the effects of the new policy established for Petrobras in 2016 by Michel Temer's government and consolidated in the subsequent government of Jair Bolsonaro. From 2016 onwards, the company’s guideline began to be guided by the reduction of internal purchasing requirements and the sale of assets in the refining segment. The double impact of these policies are, on the one hand, the recovery of the general rate of profit of the Brazilian economy and, on the other, the maintenance of a high disproportion between production departments. The methodology adopted in this work is the translation of companies’ accounting data into Marx’s economic theory through the Marxist Study of Added Values database.
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References
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