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This book is a case study of industrial development in Brazil. Special attention is given to the early emergence of capital goods production and to the pattern of evolution of the industry’s domestic and foreign firms. There is a detailed investigation of the supply and utilization of technically educated and skilled manpower. The treatment of the demand for capital goods in Brazil focuses on the scope of the market, its fluctuations, and particularly its rate of growth. This industry, the author shows, has been able to compete with imports without protection. Finally, the effects of domestic capital goods production on aggregate Brazilian developments are discussed.