That move was aimed at maintaining the continuity of Brazil's economic development which was pretty much based on the strong role and cooperation of the business community.
The economic toll has been exacerbated by a lack of potential for continuity: 70% of single-person businesses reported having no one in place to take over in the event of illness.
That continuity either means that it was a robust strategy that has weathered the enormous economic changes since then, or it's so bland that it doesn't much matter what the economy's doing.