The specific pragmatics of the economy and social policy of the Lula government, early from its start, has reached significant results in easing social inequalities, and diversifying commercial relations – while maintaining high growth. Nevertheless, the present decrease in growth outlook, completed with the growing debt of domestic economic actors, warns that the fundamental problem, namely the dependence on the innovation cycles of centre countries, has not been solved. Breaking out from the peripheral development path still is a task.