ABSTRACT
This article takes stock of how critical political economy authors have discussed
the fiscal matter. It deals with the debate on austerity and its consequences in the context of the crisis of contemporary capitalism.
A critical systematic review of the literature was conducted using 16 Marxist
journals, including some of an interdisciplinary nature. The search strategy was
constructed with the free terms: fiscal matter, capitalist crisis and fictitious
capital, and crossed with tax reform,
fiscal policy, public debt, public bonds, fiscal, taxes and austerity. After the
selection processes, 15 articles were chosen and discussed based on three analysis dimensions: 1) the fiscal matter and its
theoretical debate and case studies; 2) the fiscal matter and contemporary capitalism,
focusing on the themes of financialization,
neoliberalism and crisis; 3) fiscal reforms and class struggle, with emphasis on
reforms in the most violent global South. Based on the results found in this review,
it can be concluded that the transformations
of contemporary capitalism reiterate the leading role of fiscal austerity,
with reduced spending and debt control. These elements engender a new dynamic for social rights, with intensification of
privatization through the capitalist State itself. More than the participation of
private capital, mercantilization reflects the dominance of mercantile logic in
social logic and the inevitable need for fiscal adjustment, which, on the periphery
of capitalism, takes on a permanent character.