Dans les ailes du capital: EMBRAER, Financiarisation et implications pour les travailleurs

Abstract

The object of analysis in this article is the process of increasing financialization in the leading aeronautics company in Brazil, Brazilian Aeronautics Company S.A, (nowadays, only called EMBRAER S.A), and the impact on their direct and indirect workers. EMBRAER is the third biggest manufacturer of commercial airplanes in the world; thus, the level of competition makes the company privilege hegemonic organizational trends of global level. This investigation, centered on content analysis from official documents and scientific research published until then, verified four main moments of interconnections between productive capital and fictitious capital since its privatization in 1994, until 2012 when the research was finished. Thus, four moments come to light: 1) the 1990s, when the company was privatized; 2) in a determinant way, the beginning of the 2000’s with the manufacture of commercial airplanes EMBRAER 170/190; 3) the posterior pulverization of capital in 2006; and, finally, 4) the change of the corporate name for the purpose of expanding the areas of activity of the company in 2010. The context of such changes is that of the globalization of capital and the predominance of fictitious accumulation of capital with strong impacts in the intensification of workforce use.