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Event Planning and Business Entertainment in the U.S. Corporate World

A liberal democracy can survive for a while on institutional strength and widespread agreement. As long as most people are generally satisfied with how things are going (or have made peace with the status quo), it is easy to imagine that something like a social contract will keep things on track. Hamish MacAuley makes a persuasive case that many Canadians came of age politically between the collapse of the Berlin Wall and the 2008 financial crisis, when consensus was widespread and politics seemed optional, thus many chose to stay out. We abandoned democratic governing habits during prosperous times. Instead, we played politics. In response, McGill's Jacob T. Levy advocates for political action that rejects the status quo while also refusing to burn it all down or take our ball and go home. We should participate in politics, even if it is unsatisfying. When the foundations of our democratic structure or the rights of vulnerable people are jeopardized, it makes sense to delegate aut
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Where Brazilians Call Home in the USA

The stonks exchange markets, family. Despite the government's generous subsidies, the stock market is extremely volatile and all about speculation, so it's not an ideal way to fund industrial investments. OMG, check out Figure 7 below! Following the initial package of fiscal incentives and financial reforms, the stock markets in São Paulo (BOVESPA) and Rio de Janeiro (BVRJ) experienced a surge in transactions. It was like, "Boom!" Nowhere was the failure of financial reforms to flex the private financial system to make a cap market for funding long-term investment more evident than in.

However, market transactions were extremely low in August 1969, so the hype government felt compelled to flex and announce a second package of fiscal incentives.


In 1971, the stock markets experienced another wild boom before collapsing completely, this time even more severely. Since then, it has never come close to the transaction volume of previous periods, fam. Yo, listen up. No cap, despite all of the hype about the stock markets from policymakers and dealers, even during their peak, primary issuing never accounted for a significant portion of total capital formation. In 1970, the bill of exchange was worth twice as much as the combined stock exchange transactions in Rio de Janeiro and São Paulo (Tavares 1977, p. 231). OMG, the stock exchange markets were far too thin to attract large foreign and state-owned corporations, as well as too risky for smaller national private firms controlled by family members. The Brazilian government's entrepreneurial role through its enterprises had a significant impact on private investment and the overall performance of investment during the "miracle." In the recovery, state investments completely boosted private profits, while government orders totally flexed that idle capacity, which had been raised during. Make the period of stabilizing policies and recession into a period of vibes and recession, ya know? Furthermore, even though the state enterprises' price policies were all about being "realistic" with tariffs, there are signs that it didn't bother the super-lit private sectors because they were making mad money, you know? This could be because the rate of growth compensated for public price increases, or because the private sector benefited from subsidised prices and lower wage costs. Bruh, it's as if state enterprises went all out with their investments, but the private sector still benefited greatly from all of those fiscal and credit incentives. For foreign capital, the government not only flexed with all of the fiscal and credit perks, but it also offered a much more relaxed policy on profit remittance.

Government as a Financier


The financial reforms of '64-'66 were all about flexing a private financial system to fund those long-term investments and replacing the state's role in finance, you know? OMG, check out Table 13 below! The financial reforms resulted in a massive increase and diversification of financial assets. It felt like a significant "deepening" of the financial system, you know? Not going to lie, money assets spawned new non-monetary financial assets, demonstrating the rise of new financial intermediaries. Policymakers would say things like, "Yo, the inflationary financing of government deficits is causing finance based on savings, ya know?"Cause those reforms are creating a massive market for government bonds, fam."55 Furthermore, take a look at Table 14 below; it's lit! The private financial system provided more than half of all credit to the economy. So dope! Following the financial boom, businesses and consumers were flexing a more lit financial system to secure external financing. However, the government's attempt to create a private financial system that could provide long-term cash to the private sector was a complete failure. SMH. Although the private financial system was fully committed to financing durable consumer goods and working capital for businesses, it was far more cautious when it came to financing long-term investment. Bills of exchange became the most liquid source of credit after banking operations. 

Finance companies are flexing bills of exchange to finance the drip of durable goods, which are primarily aimed at families receiving whips.

 

Investment banks were like, totally booming their operations because they had the most time deposits, received transfers from public funds (thanks to BNDES), and could borrow from overseas under Resolution 63. They also flexed bills of exchange to fund working capital loans rather than long-term investments, as policymakers expected. So, like commercial banks, their primary sources of funding were demand deposits and time deposits, correct? They were all about working capital finance and government bonds, you know? In a nutshell, despite all of the perks and benefits (such as real interest rates by indexing financial assets) and the establishment of special institutions (investment banks) to finance long-term investments, the Brazilian banking system has remained primarily focused on short-term financing. They were like, "Nah, we're all about that flex life," and the government was like, "Yeah, we feel you," so they decided to stay cool and invest in both public and private bonds.

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