101,929 research outputs found
The Great Depression and the Corporatist Shift of Italian Economists
No full textThe profound crisis which occurred in economic theory in the period between the two wars forced the neoclassical economists to look in different directions. One of them was the corporate economic theory – understood as a theory which asserted the fundamental role of the state in economic affairs. The protagonists of this attempt to integrate in Italy corporatism into economic science were L. Amoroso, G. La Volpe, E. Fossati, G. Del Vecchio, M. Fanno, G. Papi, and G. Masci, and therefore leading economists of the Italian school who adhered to both the Marshallian and Paretian traditions. The discussion in Italy was concerned more with economic policy problems than rigorous theoretical analysis. What interested the Italian economists was not the development of new theories, but the introduction of new economic institutions able to give concrete responses to the dramatic economic problems of the time. The principal result of economic reflection on corporatism was recognition of the state's central economic role also within a free-market economic system
La teoria della crescita neoclassica in una prospettiva storica
No full textIn this work, we have tried to analyse the evolution of the neo-classical research programme on economic growth from the Lakatosian prospective. The main conclusion that emerges is that a rational reconstruction of the dominant growth theory from Solow onward is possible. The Solowian project set out to construct a dynamic theory of competitive markets that would be analogous to the static theory of general economic equilibrium
The Paretian tradition of dynamic general equilibrium in Italy's interwar period
No full textThe period between the two world wars was characterized by marked theoretical pluralism and the proliferation of research programmes in the field of economic dynamics. In this article we consider the mathematical approach to building dynamic economics developed in the United States in the twenties and in Italy in the following decade by mathematicians and economists with substantial mathematical and statistical baggage. Despite important differences between them, the versions developed in the USA and Italy can be treated jointly because they shared the same view of dynamics as an equilibrium phenomenon, in a sense that the movements of economic variables were not deviations from natural rates but could be considered as optimal choices given the constraints. In the United States, in a context still largely dominated by institutionalism, the dynamic equilibrium approach was carried forward by two mathematicians, G. Evans and C. Ross. In Italy, this strand of analysis became the principal area of inquiry for the Paretian School, which during the 1930s made major contributions with L. Amoroso, G. La Volpe and G. Palomba. In attempting to dynamize the general equilibrium this authors made important contributions manly in mathematical terms, introducing openly the functional calculus in economics dynamics, a tool which in the postwar period proved essential for research in this field of inquiry
From steady-state to dynamic equilibrium : the perspective in the interwar period
No full textThe period between the two world wars was characterized by theoretical pluralism and the proliferation of research programs in economic dynamics. In this article, we consider the mathematical approach to building dynamic economics developed in the United States in the twenties and in Italy in the following decade by mathematicians and economists with substantial mathematical and statistical backgrounds. Despite important differences, the versions developed in the United States and Italy can be treated jointly because they shared the same view of dynamics as an equilibrium phenomenon.
In the United States, in a context still largely dominated by institutionalism, the dynamic equilibrium approach was carried forward by two mathematicians, G. Evans and C. Roos. In Italy, this strand of analysis became the principal area of inquiry for the Paretian school, which during the 1930s made major contributions through L. Amoroso and G. La Volpe. In attempting to dynamize the general equilibrium, these authors made important contributions mainly in mathematical terms, introducing functional calculus in economics dynamics, a tool that in the postwar period proved essential for research in this field of inquiry
The Paretian Tradition During the Interwar Period
No full textThe years in-between the two World Wars were a crucial period for the building of economic dynamics as an autonomous field. Different competing research programs arose at international level. Great progress was achieved by studies on the business cycle, with the first statistical applications. Outside the theory of the business cycle, a significant line of inquiry was that pursued at the end of the 1930s by Hicks and Samuelson. This period also saw the formulation of another approach to formal economic dynamics which in the 1930s represented the frontier of research from the analytical point of view. It was an approach which set the notion of equilibrium at the basis of dynamics, exactly as in the case of statics, thus leading to the definition of a dynamic equilibrium approach. The aim of this volume is to take into consideration this original research field sparked from Pareto’s works and initially developed during the 1920s in the United States by two American mathematicians, G. Evans and C. Ross
Insegnare l'economia per modelli: la macroeconomia dal breve al lungo periodo
No full textLo scopo di questo capitolo è quello di presentare l’ossatura dei principali modelli macroeconomici, le loro ipotesi iniziali e le loro implicazioni sul pia-no della politica economica. Questo compito è reso complesso dal fatto che la macroeconomia, a differenza della microeconomia, non è un disciplina dove gli studiosi hanno aggiunto un consenso di base. Il pensiero macroeconomico contemporaneo è costituito da un insieme di scuole che offrono interpretazioni differenti, e spesso contrastanti, sul funzionamento del sistema economico e sul modo di affrontare le questioni di politica economica. La coesistenza di punti di vista diversi, se da un alto rappresenta una debolezza della ricerca macroeconomica, dall’altro rappresenta un tratto caratteristico della macroe-conomia dove l’analisi teorica deve tener conto anche delle influenze ideolo-giche, come pure del fato che i fenomeni da spiegare sono complessi e di dif-ficile soluzione. La proliferazione di punti di vista alternativi ha portato alla formazione di diverse scuole che offrono una diversa spiegazione del funzio-namento di un’economia nel suo complesso. Tra di esse una posizione di spicco occupano la macroeconomia neoclassica, la scuola del ciclo economico reale e la nuova scuola keynesiana
From general equilibrium dynamics to the political economy: the influence of Austrian tradition on E. Fossati
No full textEraldo Fossati (1902-1962) can be considered as one of the leading exponents of the Paretian tradition in Italy. In his research he tried to dynamize the Paretian theory of general equilibrium. In this approach an important role can be assigned to the State. In the first phase he emphasized the role of the true uncertainty following the Austrian tra-dition. After the second world war he supported the Keynesian theory and made an original proposal to reconcile Pareto and Keynes, considering the latter not as a revolu-tionary economist but rather as an innovator who furnished new tools with which to un-derstand the real workings of contemporary economic systems with their chronic unem-ployment. In this perspective the role of the State is substantial. The uncertainty of the economic life and the difficulties of coordination among economic agents are, in the Fossati’s approach, the roots of the necessity of the intervention of the State in the mod-ern economic systems
From Distribution to Inequality: Accumulation and Growth in the Neoclassical Tradition
No full textThe theory of income distribution, both functional and personal, has never been given great importance in the traditional neoclassical growth theory, occupying a marginal role in the theoretical debate. Within this approach, rather than a macroeconomic theory of income distribution, it would be more appropriate to talk about a mechanical extension of the analytical categories of microeconomics to dynamic macroeconomics, so that income distribution is an endogenous fact determined by the technological relations, defined as initial stock.
With the abandonment of the concept of scarcity as the regulating principle by the new growth theorists, and its analytical equivalent represented by the decreasing marginal productivity of the accumulated factor, growth has become endogenous but it is no longer possible to maintain the old theory of distribution linked to determination of the related price
Guida alla economia politica e alla politica economica
No full texttesto didattico che affronta i principali temi, le più salienti problematiche dell'economia e le più significative strategie economiche in sede nazionale e internazional
The economic role of the State from Pareto to Keynes in the Italian tradition: the contribution of Eraldo Fossati
No full textEraldo Fossati (1902-1962) was one of the leading exponents of the Paretian tradition in Italy in the middle of the last century. His general relevance, apart its specific contributions to the economic theory, can be see in the fact that he can be considered a figure of transition in the Italian economic debate from the pure theory rooted in the Paretian heritage to the introduction in Italy of the Keynesian theory
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