Book excerpt: The Meaning of Liberalism in Brazil explores the consequences of globalization in emerging-market economies using Brazil as a case study. This well-researched and thought provoking book elaborates a new interpretation of Brazilian society by showing the relationship between political thought and economics, as well as how the two disciplines can interact, working together to shape a nation. Milton Tosto Jr. carefully traces the meaning of liberalism throughout Brazilian history, explaining liberalism's birth and collapse, and ultimately offers reasons why the new liberal institutions of Brazil have an excellent chance of prospering. Anyone interested in economics, political theory, or Latin American studies will find this unique and insightful volume helpful.