ABSTRACT
Development and crisis were the two key-words of the Brazilian historical process between 1930 and 1968. Despite intermittent political and economic crises, throughout the first 31 years the emphasis was on development. The degree of industrial development that took place in Brazil from 1930 to 1961 was so great that it has led many observers to believe that the Brazilian industrial revolution was complete. The main effect of the revolution was to consolidate the capitalist system in Brazil, in the intermediate term. Brazil saw a vast diversified and integrated industrial park established within its borders. The distortions caused by the process of import substitution suggest the first definitive proof that the Brazilian economy will have to face in order to overcome these distortions. Eventual favorable conditions in the market, external to the Brazilian economy itself, could cause a new boom in the exportation of raw materials.
