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Source: ETCO, 03/08/2007

Economist Armando Castelar Pinheiro argued that transacting is
expensive in Brazil. High transaction costs generate economic inefficiency. THE
Legal certainty reduces the cost of transactions and thereby promotes
economic development. The economist analyzed the causes of insecurity
highlighting the frequent changes in the rules of the game, ambiguous laws and
conflicting and long and frequently modified court decisions.
“Professionalization of the management of the courts, curriculum revision of the
right to emphasize the importance of justice for the proper functioning of the
economy, reduce the frequency with which the government changes the rules of the game
including tributaries ”are some of Castelar's suggestions

Minister Eros Grau made a provocative presentation, arguing that the
historical development of the capitalist mode of production was done at the expense of
violation of legal rules, as it represented a leap in a social structure
to another The minister, citing the “creative destruction” of the great economist
Shumpeter, asked if these violations had not occurred, would he have the
capitalism if developed? Paradoxically it is argued today that growth
economic dependence on legal certainty.

ETCO Chief Executive Professor André Montoro stated that the
real development and not just economic growth exists only if
there is a good business environment. “This environment must be formed by rules
clear rules that are respected. In other words, there is legal certainty,
hence the great importance of this Seminar. ”

The event is part of a cycle of debates that ETCO and CESA are
promoting with the support of the Federal Regional Court of the 3rd Region and the School
Superior of the Federal Public Ministry.