The paper aims at a better understanding of the abstract modeling of the Brazilian Economic History, exposed by Celso Furtado in his celebrated essay The Economic Growth of Brazil. The mining cycle of 18th century Minas Gerais is contrasted with the two other main export-led cycles of the Brazilian economy: the Northeastern sugar-cane cycle and the coffee crop cycle. It is also confronted with the general model for a mining economy, to be found in Furtado's studies about Hispanic America. In our view, these contrasts allow us a better understanding of the notorious flaws of Furtado's hypotheses on the development of the slave economy in 19th century Minas Gerais. Additionally, these contrasts may prove instrumental to the understanding of the economic theory underneath Furtado's models of historical abstraction.
Celso Furtado; mining economy; Minas Gerais