Neo-extractivism in Latin America increased state revenues and expanded its capacity for income redistribution while leaving a trail of socioecological devastation. The ambiguity of twenty-first-century extractivism reflects the lack of consensus about its role in the successes and failures of the Pink Tide. Theorization about the main phenomenon, extractivism, could lead to a more assertive examination of both. This paper offers an analysis of Brazil during this period, departing from an understanding that the key to depicting extractivism is not the link between resource extraction and the dynamics of profit or revenue generation, but rather, the link of both to a porous and externally dependent pattern of domestic accumulation. As such, neoliberal extractivism describes empirically and theoretically the recent form of extractivism in Brazil. The expansion and reproduction of resource-based accumulation reflected and reinforced the reliance on a systematic spoliation of state and society to remunerate the owners of rent- and interest-bearing assets – the most perverse and aggressive form of extractivism in its history.
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I would like to express my appreciation for Castel-Branco's scholarship, which has greatly influenced my intellectual development. His work inspired and ultimately guided this piece—of course, all mistakes are mine. I would also like to thank the editors of this Special Forum for their interest in this research, their substantial feedback and support, and their patience and kindness. This research did not receive any financial support but counted on different forms of solidarity.
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