Second, it will be remarked that, when Sraffa's contribution is placed, as it should, within the classical theory of value and distribution, no price or Sraffian indeterminacy will result. All these circumstances affect wage determination through the same channel, that is their influence on the ability of the parties involved to establish favourable conditions for themselves in the distribution of income Stirati 1992; Levrero 2006. The E-mail message field is required. He previous works include Four Lectures on Wages and the Labour Market 2012 and several articles in academic journals and collected volumes. His main research interests are in the theories of value and distribution, wages and the labour market, issues of monetary economics and Sraffa's works. Lessons From the Crisis: The Macroeconomics of Leverage; Paolo Leon. Author Biography Enrico Sergio Levrero is Associate Professor at Roma Tre University, Italy.
The paper examines empirically the evolution of income shares in the business sector as a whole and in various industries adopting a framework of analysis that does not rely on neoclassical substitution mechanisms. Marx's theory of wages and the revival of the Surplus Approach; Enrico Sergio Levrero -- 9. Exchange Rate Policy, Distributive Conflict and Structural Heterogeneity. The Political Economy of the Rise and Decline of Developmental States; Carlos Aguiar de Medeiros 10. Antonella Stirati, Roma Tre University, Italy. Paolo Trabucchi, Roma Tre University, Italy. Antonella Stirati is currently a Professor at Roma Tre University, Italy.
This result highlights a lack of correspondence between the perfect foresight hypothesis and that of complete markets. Causality and Structure in Piecemeal Macroeconomic Modelling; Sergio Parrinello 12. This first volumes focuses on the critique of general equilibrium theory and the determinants of income distribution, together with the related issue of the method of analysis which characterises the Classical theory and the marginalist approach. Written on the occasion of the 50th anniversary of the publication of Piero Sraffa's Production of Commodities by Means of Commodities, the papers selected and contained in Sraffa and the Reconstruction of Economic Theory account for the work completed around the two central aspects of his contribution to economic analysis, namely the criticism of the neoclassical or marginalist theory of value and distribution, and the reconstruction of economic theory along the lines of the Classical approach. Sergio Parrinello, Sapienza University of Rome, Italy. Paolo Trabucchi, Roma Tre University, Italy.
Albeit a first assessment, Friedman's claim that he was suffering from a 'Keynesian illness' in his 'Washington phase' appears to have been less 'serious' and deep than he himself feared, although he was to some extent influenced by the 'prevailing Keynesian temper of the time'. Divided into three volumes, Sraffa and the Reconstruction of Economic Theory debates the most fruitful routes for advancement in this field and their implications for applied and policy analysis. Fabian Amico, Lujan University, Buenos Aires, Argentina. In particular, it shows that for the United States in the years 1959-2016 i bank loans determine bank deposits and ii bank deposits in turn determine the monetary base. The aim of this paper is to assess-on both theoretical and empirical grounds-the two main views regarding the money creation process, namely the endogenous and exogenous money approaches. Her main research interests and activities are in the modern revival of Classical economics and in the theories of demand-led growth.
The Political Economy of the Rise and Decline of Developmental States; Carlos Aguiar de Medeiros 10. The E-mail message field is required. Public Debt and Aggregate Demand -- Roberto Ciccone 2. Finally, Marx's analysis of the effects of technical progress on both absolute and relative wages will be considered, also relating it back to the long-standing debate on the Marxian law of the falling rate of profit. Fabian Amico, Luján University, Buenos Aires, Argentina. The second issue refers to the distinction between the natural and the market wage rate that can be found in Marx, and his critique of Ricardo's analysis of the determinants of the price of labour.
Divided into three volumes, the book debates the most fruitful routes for advancements in this field and their implications for applied and policy analysis. Volume two, Aggregate demand, policy analysis and growth. Only a Few Techniques Matter! She has published Theory of Wages in Classical Economics 1994 and several articles in academic journals and collective volumes. Harmonic and Conflict Views in International Economic Relations: a Sraffian view; Sergio Cesaratto 11. The aim of this paper is to reconstruct Sraffa's analysis of taxable income and the subsistence wage as traceable in his unpublished manuscripts and then look at some of its implications for policy analysis-especially with regard to taxation and an operational setting of minimum wages and subsidies for the poorest sectors of the population.
It also presents an example of this capability and outlines the essential role of social and institutional factors in the theory of Smith and Ricardo in regard to the labor market. Sraffa and Keynes: Two Ways of Making a 'Revolution' in Economic Theory; Guglielmo Chiodi and Leonardo Ditta 11. Enrico Bellino, Università Cattolica, Milan, Italy. Causality and Structure in Piecemeal Macroeconomic Modelling; Sergio Parrinello -- 12. Alternative 'Closures' to Sraffa's System: Some Reflections in the Light of the Changes in Income Distribution in the United States; Antonella Stirati 10. Sraffa and Keynes: Two Ways of Making a 'Revolution' in Economic Theory; Guglielmo Chiodi and Leonardo Ditta -- 8.
Alejandro Fiorito, Luján University, Buenos Aires, Argentina. Antonella Palumbo is associate Professor of economics at Roma Tre University, Italy. The Argentinian and Brazilian Cases; Alejandro Fiorito and Fabian Amico. Her main scientific interest is in the revival of the surplus approach, particularly in the areas of income distribution and employment theory. Two Strands of Thought in Pierangelo Garegnani's Capital Theory Critique; Harvey Gram -- 3. The Meaning of the Long-run Proportion of Saving in Social Income -- Attilio Trezzini 5. While it is an applied work, it may be useful to provide at the beginning a brief clarification of the broader framework implicit in the analysis.