There were 93 million Brazilians, the industry still crawled and inflation edged at 20%. This was the 1969 profile of Brazil. Four decades later, Brazilians have experienced the effects of external crises, the default on external debt, inflation that exceeded 2,000% and a jumping industry. The boom lasted until the end of the 70s – the so called Brazilian miracle. It was followed by another cycle of low growth and rising inflation. Gradually, the country begins to resume the path of growth, but still falls shockingly behind when compared to other countries.
The most striking example is South Korea. 40 years ago, the per capita income in Brazil was almost twice the Korean. In 2007, the last data available for comparison, the situation was reversed with a wide margin in favour of Korea. In recent years, the Brazilian income represents only 30% of the Korean.
What led Brazil to fall so grossly behind? The answer comes from Luiz Roberto Cunha, professor at the PUC (University in Rio): the lack of massive investment in technology and education:
“Investment in education is restricted to private institutions and in which only the cheaper courses, like Law and Administration, are available. Little is invested in engineering and computing. Albeit this difference determined the expansion of emerging countries, the Brazilian state never had and still doesn’t have any intention to invest.
It’s not only the lack of proper basic education that frustrates the future of this country, but worse, the shortage of a professionally educated workforce will bring Brazil on its knees and the country in disarray. The availability of commodities exported without any added value can’t last.
The under-educated people, who represent the majority of the Brazilians, will remain in poverty. And don’t expect Lula with all his rhetoric and surrounded by his corrupt friends to improve this situation. No way there is any interest in a real advancement of the Brazilian plebeians.