A teoria do regime de acumulação financeirizado: conteúdo, alcance e interrogações
This paper provides a synthesis of the approaches to the financialized accumulation regime, showing both the problems and the potentialities of the theories that deal with it. It tries to describe the main systemic features of the financialized regime, while questioning its virtuous character and even its viability. It concludes that it is possible, if not probable, that the regime will soon face a crisis whose epicenter will be in the United States.
Is a Finance-led growth regime a viable alternative to Fordism? A preliminary analysis
The viability and desirability of a finance-led growth regime is first assessed against the historical evidence about the many alternative regimes that have been proposed as successors to Fordism. A purely hypothetical model is then built by assembling various hypotheses derived from the observation of current American trends. The imposition of financial norms, such as shareholder value, requires a new and coherent architecture for the mode of governance of firms, the form of competition, the wage labour nexus and the objectives of monetary policy, public budget and tax system. According to the model, any requirement for increased profit has a variable macro-economic impact on wages and economic activity according to the size of accelerator effects and the relative importance of wage and profit in income formation. The stability of an equity-based regime depends on monetary policy which controls financial bubbles and thus the diffusion of finance may push the economy into a zone of structural instability. The next major financial crisis may originate in the USA whose economy approximates most closely to the model. But, the so-called American 'new economy' combines diverse but interdependent structural transformations: diffusion of Information and Communication Technologies, search for new rules for competition, increased flexibility in wages and employment, shift from manufacturing to services. Finance is an element in, but not the whole of, this complex emerging regime.
VLA stereoscopy of solar active regions. 2: Altitude, relative motion, and center-to-limb darkening of 20 centimeter emission
A newly developed method of stereoscopic correlation is applied to solar radio maps at a wavelength of 20 cm. On the basis of stereoscopic correlations between radio maps obtained on 6 different days we establish the presence of 66 radio source components associated with 22 active regions. We find the following statistical results for active region source structures at 20 cm: 1. The observed lifetime is consistent with an exponential distribution having an e-folding time scale of greater than 18 days. 2. The average altitude of 20 cm sources is 25 +/- 15 Mm; 90% of the sources are found in heights less than 40 Mm. 3. The average diameter of discrete source structures is 48 +/- 15 Mm, implying a vertical/horizontal aspect ratio of q(sub A) approx. = 0.5. 4. No significant source motion has been found with respect to the standard differential rotation rate of Omega = 13.45 deg - ((3 deg (sin(exp 2)B)). 5. We find a statistical limb darkening, which can be described by the relation (T(sub B)(alpha))/T(sub B)(0)) = 0.4 + ((0.6(cos(exp 2) alpha)) for sources with T(sub B) greater than 0.5 MK. 6. The degree of source polarization is 15% +/- 10% and is independent of source location. 7. Bright sources (greater than or approximately equal to 0.5 MK), or equivalently, long-lived sources (greater than or approximately equal to 5 days) show a systematic variation of their altitude as function of the center-limb distance.