This paper estimates the Brazilian economy’s rate of surplus value as well as its underlying determinants, i.e., wage rate and labor productivity between 1996 and 2016. In addition, it builds a theoretical narrative of the Brazilian economy that integrates its political successions, highlighting the governments of Fernando Henrique Cardoso (1995–2002), Luiz Inácio Lula da Silva (2003–2010), Dilma Rousseff (2011–August 2016), and the parliamentary coup d’état (December 2015–August 2016). The findings are presented based on the classical political economy tradition, which sees capital-labor struggle as a key, albeit nonexclusive, condition that frames the economic, political, and ideological disputes of society.

JEL Classification: B51, E25, N16

本文估计了巴西经济的剩余价值率及其基本决定因素，即1996年至2016年之间的工资率和劳动生产率。此外，它建立了一个巴西经济的理论叙述，并整合了其政治继承，着重强调了政府包括费尔南多·恩里克·卡多佐（1995–2002），路易斯·伊纳西奥·卢拉·达席尔瓦（2003–2010），迪尔玛·罗塞夫（2011–2016年8月）和议会政变（2015年12月—2016年8月）。这些发现是基于古典政治经济学传统提出的，该传统认为资本劳动斗争是构成社会经济，政治和意识形态纠纷的关键（尽管非排他性）条件。

JEL分类：B51，E25，N16