The Takeover of Social Policy by Financialization

The Brazilian Paradox

  • Lena Lavinas

Table of contents

  1. Front Matter
    Pages i-xxi
  2. Lena Lavinas
    Pages 1-16
  3. Lena Lavinas
    Pages 171-183
  4. Back Matter
    Pages 185-219

About this book


This book critically addresses the model of social inclusion that prevailed in Brazil under the rule of the Workers Party from the early 2000s until 2015. It examines how the emergence of a mass consumer society proved insufficient, not only to overcome underdevelopment, but also to consolidate the comprehensive social protection system inherited from Brazil’s 1988 Constitution. By juxtaposing different theoretical frameworks, this book scrutinizes how the current finance-dominated capitalism has reshaped the role of social policy, away from rights-based decommodified benefits and towards further commodification. This constitutes the Brazilian paradox: how a center-left government has promoted and boosted financialization through a market incorporation strategy using credit as a lever for expanding financial inclusion. In so doing, it has pushed the subjection of social policy further into the logic of financial markets.


economic growth Latin America economic development financialisation social protection system financial crisis financial crises new middle class social development social security development strategy privatization privitisation mass consumption consumer credit

Authors and affiliations

  • Lena Lavinas
    • 1
  1. 1.Federal University of Rio de JaneiroRio de JaneiroBrazil

Bibliographic information

  • DOI
  • Copyright Information The Editor(s) (if applicable) and The Author(s) 2017
  • Publisher Name Palgrave Macmillan, New York
  • eBook Packages Economics and Finance
  • Print ISBN 978-1-137-49106-0
  • Online ISBN 978-1-137-49107-7
  • Buy this book on publisher's site