Today, faced with the rise of right-wing populism, several political actors believe the need for left-wing populism. Certain leftist political sectors advocate the reinvention of populist nationalism. Despite the differences from this experience which was strong in Brazil in the 1950s / 60s, certain elements remain as a hard core of this political ideology. Among them the fetish of development as industrial growth, the development of the “internal market”, the characterization of the country as dependent, the conception that this dependence derives from the relations of an external domination of “imperialist capital” which oppresses and prevents self-sufficiency. saying “national bourgeoisie” to develop. Development must be done in alliance with “national entrepreneurs” directed towards overcoming dependence through industrialization. This “developmental theology” goes back, in truth, to the end of the Second World War with the foundation of CEPAL. But if during the 1960s it became clear that the strategy of Brazilian big capital was to become transnational - something done during the years of the assertion of the neoliberal doctrine (1990/2020), the crisis of reproduction of capital promoted a deep process de-industrialization. Part of the big Brazilian capitals finish all aspiration for a third way, the development of which should be in the interest of the great majority of the Brazilian population with distribution of wealth. They merge with large international financial oligopolies.