It was opted to one legalizes transformation of the economy and its relationship with exterior. But such choice contains one high dose of economic rationality, therefore the choices of 1974 conformed an opportune and promising economic strategy. One perceives that the block of investments announced for II the PND, destined to substitute importation and to open new fronts of exportation, searched to support the conjuncture hindering a discontinuity of unexpected consequncias; to assure the necessary space to the absorption I occasion of it of investment deriving of the harvest of the miracle, thus keeping the spirit of the capitalists and to modify, in the long run the productive structure. However the new politics placed in the center of palco of Brazilian industrialization, the great state-owned company, for its strategical function and the fact from that of its orders they derived numerous taken projects the effect for the private sector, with periods of long maturation. II the PND due to proper mission that if considers, is conceived as a program of medium and long run, therefore certain resulted is waited for 2 the 3 years, therefore if it deals with a plan without quantitative goals, not being easy to foresee or to control the tax of growth of the economy year the year. However the program suffered some critical ones as to delay the problems, being that the solutions were postponed until the maturation of the investments; it would be a step ahead in the process of nationalization of the economy to not delegating to the market the conduction of the economic decisions and could have been adopted through the most limpid democratic processes since the society did not participate of its elaboration and it did not have as to control its execution. As subcaptulo Vicissitudes of II the Delfinato is verified that in 1977 a situation of balance of the commercial transactions, reflected of the rigid control of the importations, fall of the rhythm of the growth of the economy was reached and evolution of the interchange terms. .