Luiz Carlos Bresser-Pereira

RAE - Revista de Administração de Empresas - Journal of Business Management, 61 (3): 1-11.

Abstract. Since the end of the 1970s, capitalism experienced a regressive phase - neoliberal rentier-financier capitalism - and, since 2008, has entered a terminal crisis. Capitalists ceased to control the process of capital accumulation and innovation that legitimized them, and capitalism stop to produce economic development and human progress. In its place, a new social organization is emerging that the author calls "democratic managerialism", in which the class of managers or technobureaucrats once again became stronger and constituted the nucleus of the new dominant class coalition. At the same time, democracy has been facing the authoritarian challenges well and it is possible to predict that it will deepen in democratic managerialism.