After a series of disastrous governments, October’s general election will give Brazilians a chance to chart a new course for their country. But with populist politicians leading in the polls, the country may instead be headed for a period of prolonged social, political, and economic turmoil.
SÃO PAULO – Latin America’s largest economy is in the midst of a prolonged political crisis, aggravated by the appeal of populism. Like a drug, populism has attracted Brazilians with fanciful promises of higher living standards and enhanced well-being. But, for 16 years, the country’s populist presidents have presided over record-high unemployment, skyrocketing budget deficits, a return to poverty for millions, and the worst economic recession in a century.
SÃO PAULO – Latin America’s largest economy is in the midst of a prolonged political crisis, aggravated by the appeal of populism. Like a drug, populism has attracted Brazilians with fanciful promises of higher living standards and enhanced well-being. But, for 16 years, the country’s populist presidents have presided over record-high unemployment, skyrocketing budget deficits, a return to poverty for millions, and the worst economic recession in a century.