Selling Neoliberalism: Brazil's Instituto Liberal

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Abstract
In the 1980s more and more Latin American countries attempted to address daunting economic problems with variations on the so-called neoliberal theme. While one should have expected governments to implement some form of short-term fiscal and monetary adjustments to address the region's generalised fiscal crisis, it was less inevitable that this neoclassical formula should coincide with a more long-term structural adjustment formula, including such neoliberal (or neo-orthodox) policies as privatisation of State-owned companies, liberalization of tariffs, and reduction of the public sector workforce. As a result of this policy mix, the normal recessionary impact of adjustment intensified. The clamour for protection from that impact, and/or for putting an end to the policies themselves, has also intensified not only from the popular sector (that perennial target of all adjustments), but from the ranks of economic elites as well.

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