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  • 1
    Online Resource
    Online Resource
    Axel Leijonhufvud: A personal recollection from an Austrian perspective (2022)
    Details
    UID:
    (DE-627)1839429569
    ISSN: 2037-3643
    Content: Professor Axel Leijonhufvud passed away few months ago, at the age of 89. Despite the fact that the contribution he made to economics has been widely recognized, his approach remains 'problematic' because of his dialogue and proximity with different streams of thought, and in particular with the Austrian School. This short recollection, developed from an Austrian perspective, touches only briefly on Leijonhufvud's hybrid interpretation of the Great Recession. More space is instead devoted to analysing his institutional approach to the phenomenon of inflation and its link with monetary policy and monetary regimes. Some reflections are focused on the importance of microfoundations and of studying the market process as a process of inter-temporal coordination, with a final call for humility within the economics profession.
    In: PSL quarterly review, Roma : [Verlag nicht ermittelbar], 2008, 75(2022), 302 vom: Sept., Seite 299-310, 2037-3643
    In: volume:75
    In: year:2022
    In: number:302
    In: month:09
    In: pages:299-310
    Language: English
    Keywords: Aufsatz in Zeitschrift ; Nachruf
    DOI: 10.13133/2037-3643/17888
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  • 2
    Online Resource
    Online Resource
    Beyond social democracy and neo-liberalism : towards a social economy (2021)
    Details
    UID:
    (DE-627)1799756866
    ISSN: 2037-3643
    Content: The paper brings together a range of ideas on the construction and nature of what may be termed a post neo-liberal social economy. The social democratic era of the early post-war decades and the neo-liberal era of the past four decades are briefly considered. Some general thoughts on the mechanisms of economic co-ordination under the heading of markets, networks and planning are provided. The roles of different forms of ownership and control - private, public, mutual and co-operative - in a social economy are then considered. The strategic roles to be played by the State under the heading of social economic strategy are next considered. The final main section relates to the role of the State: welfare and income support, and macroeconomic policies.
    In: PSL quarterly review, Roma : [Verlag nicht ermittelbar], 2008, 74(2021), 299 vom: Dez., Seite 287-306, 2037-3643
    In: volume:74
    In: year:2021
    In: number:299
    In: month:12
    In: pages:287-306
    Language: English
    Keywords: Aufsatz in Zeitschrift
    DOI: 10.13133/2037-3643/17672
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  • 3
    Online Resource
    Online Resource
    Can the side effects of sanctions and energy inflation trigger the disintegration of the international monetary regime? (2023)
    Details
    UID:
    (DE-627)1891420771
    ISSN: 2037-3643
    Content: This article aims to discuss the impact of the energy crisis exacerbated by the Russo-Ukrainian war on the general macroeconomic performance and income distribution of the Eurozone. We consider the restrictive monetary policies induced by the return of inflation, their declared and implicit objectives, and the contradictory consequences for the economic system. We analyse the impact of Western sanctions on the Russian economy, and discuss the long-term consequences of sanctions and political strategies on the de-dollarisation of global markets.
    In: PSL quarterly review, Roma : [Verlag nicht ermittelbar], 2008, 76(2023), 306 vom: Sept., Seite 225-242, 2037-3643
    In: volume:76
    In: year:2023
    In: number:306
    In: month:09
    In: pages:225-242
    Language: English
    Keywords: Aufsatz in Zeitschrift
    DOI: 10.13133/2037-3643/18249
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  • 4
    Online Resource
    Online Resource
    Can we reform capitalism for its own good? : a roadmap to sustainability (2023)
    Details
    UID:
    (DE-627)1854324217
    ISSN: 2037-3643
    Content: An intensifying combination of instability, inequality, and environmental degradation obliges us to consider how best to reform capitalism. The question of the system's reformability has deep historic roots in capitalism's long-wave dynamic where periods of crises have recurrently set in motion ambitious reform programs such as the New Deal in the 1930s or the Reagan/Thatcher Revolution in the 1980s. But there is nothing mechanical about this process. The same crisis dynamic also triggers destabilizing polarization in the body politic which hinders consensus for broad reform. And any such reform program must also address the transformational requirements of the moment. France's Régulation Theory (RT) can be quite helpful in this regard with its unique institutionalist approach to capitalism's historic evolution and its typology of crises. Using RT we identify the basic outlines of a progressive reform program rooted in sustainable development and global public goods.
    In: PSL quarterly review, Roma : [Verlag nicht ermittelbar], 2008, 76(2023), 304 vom: März, Seite 67-88, 2037-3643
    In: volume:76
    In: year:2023
    In: number:304
    In: month:03
    In: pages:67-88
    Language: English
    Keywords: Aufsatz in Zeitschrift
    DOI: 10.13133/2037-3643/18094
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  • 5
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    Online Resource
    Chile: The road to joy is paved with obstacles (2022)
    Details
    UID:
    (DE-627)1839428147
    ISSN: 2037-3643
    Content: The second round of the Presidential elections in Chile marked a swing in the local political scenario. The coalition led by Gabriel Boric secured an unprecedented victory under the premise of delivering long-awaited reforms to a financially volatile, structurally fragile and deeply unequal economic structure. This paper sheds light on these three aspects of the Chilean economy, showing that its external and internal fragility feeds back on the excessive specialization and heterogeneity of the productive sectors, which in turn influence income and wealth distribution. It is argued that, in order to carry out an effective progressive agenda, the newly elected government should avoid yielding to the "discreet charm" of the Chilean bourgeoisie and its core principles - which includes fiscal prudence, minimum government intervention and financial liberalization.
    In: PSL quarterly review, Roma : [Verlag nicht ermittelbar], 2008, 75(2022), 302 vom: Sept., Seite 285-297, 2037-3643
    In: volume:75
    In: year:2022
    In: number:302
    In: month:09
    In: pages:285-297
    Language: English
    Keywords: Aufsatz in Zeitschrift
    DOI: 10.13133/2037-3643/17887
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  • 6
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    Online Resource
    Competitive vs cumulative approach in teaching macroeconomics : some thoughts on recent popular textbooks (2022)
    Details
    UID:
    (DE-627)1810833558
    ISSN: 2037-3643
    Content: This paper critically evaluates two different approaches to teaching macroeconomics at the undergraduate level through the comparison of two popular, recent handbooks: Olivier Blanchard's Macroeconomics (2021) and William Mitchell, Randall Wray and Martin Watts's Macroeconomics (2019). These textbooks are taken as benchmarks of two opposite views of the discipline: the cumulative - that is, followed by Blanchard and most "mainstream" textbooks - as opposed to the competitive view.
    In: PSL quarterly review, Roma : [Verlag nicht ermittelbar], 2008, 75(2022), 301 vom: Juni, Seite 161-171, 2037-3643
    In: volume:75
    In: year:2022
    In: number:301
    In: month:06
    In: pages:161-171
    Language: English
    Keywords: Aufsatz in Zeitschrift
    DOI: 10.13133/2037-3643/17785
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  • 7
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    Conceptualising productivity measurement from a classical perspective (2024)
    Details
    UID:
    (DE-627)1899302220
    ISSN: 2037-3643
    Content: Productivity seems an obvious concept: output per unit of input. Yet, when contextualised within alternative views of production and distribution, challenges across attempts at measuring it are far from trivial. The aim of this paper is to present and discuss some foundational concepts for measuring productivity from a classical perspective, as opposed to a more traditional standpoint. A key distinction is made between measuring productivity from the expenditure (or physical quantities) side and quantifying profitability from the value added (or income) side. Productivity is opposed to productiveness and commodity reduction is contrasted to price aggregation. After critically discussing the traditional standpoint of total factor productivity growth, this paper conceptually discusses the method of (growing) subsystems and the computation of production prices as analytical and empirical devices for measuring productivity and profitability in a multisectoral economy.
    In: PSL quarterly review, Roma : [Verlag nicht ermittelbar], 2008, 77(2024), 309 vom: Juni, Seite 145-172, 2037-3643
    In: volume:77
    In: year:2024
    In: number:309
    In: month:06
    In: pages:145-172
    Language: English
    Keywords: Aufsatz in Zeitschrift
    DOI: 10.13133/2037-3643/18513
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  • 8
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    The consequences of the Russian-Ukrainian war on the Italian economy and the need for a "full and good employment" strategy (2023)
    Details
    UID:
    (DE-627)1891421190
    ISSN: 2037-3643
    Content: This article examines the consequences of the Russian-Ukrainian war on the Italian economy, especially on inflation, wages and employment. The study shows that Italy, which in the pre-war period had not yet reabsorbed all the consequences of the 2008 crisis, with the structural weaknesses of its economy, came under renewed pressure due to the COVID-19 crisis and, afterwards, to inflation and the war. The paper indicates the need for an economic policy based on the 'full and good employment' strategy.
    In: PSL quarterly review, Roma : [Verlag nicht ermittelbar], 2008, 76(2023), 306 vom: Sept., Seite 277-291, 2037-3643
    In: volume:76
    In: year:2023
    In: number:306
    In: month:09
    In: pages:277-291
    Language: English
    Keywords: Aufsatz in Zeitschrift
    DOI: 10.13133/2037-3643/18233
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  • 9
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    Constrictive labor and the dignity of work (2021)
    Details
    UID:
    (DE-627)179974924X
    ISSN: 2037-3643
    Content: The paper summarizes the rationale and contents of a conference held at the Accademia Nazionale dei Lincei in December 2020, celebrating the fiftieth anniversary of the Italian Statuto dei lavoratori (Charter of Workers' Rights): a reform that represents an important advancement in Italian civic development. The paper illustrates the Charter: its attempt to reconcile, in light of the Italian Constitution, the twin and opposite characteristics of labor as sacrifice and as contributing to the social dignity of workers; and the law's compromises between the opposite needs of the labor process (stability and flexibility of employment, employers' freedom in hiring, the need to avoid discrimination, and so on).
    In: PSL quarterly review, Roma : [Verlag nicht ermittelbar], 2008, 74(2021), 297 vom: Juni, Seite 99-105, 2037-3643
    In: volume:74
    In: year:2021
    In: number:297
    In: month:06
    In: pages:99-105
    Language: English
    Keywords: Aufsatz in Zeitschrift
    DOI: 10.13133/2037-3643/17563
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  • 10
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    Online Resource
    Debt-led growth and its financial fragility : an investigation into the dynamics of a supermultiplier model (2022)
    Details
    UID:
    (DE-627)1839425512
    ISSN: 2037-3643
    Content: This paper discusses the financial sustainability of demand-led growth models. We assume a supermultiplier growth model in which household consumption is the autonomous component of demand that drives growth and discuss the financial sustainability of such dynamics of growth from the perspective of the working households. We show that for positive rates of growth the model converges to an equilibrium where worker households are accumulating debt and not wealth. We also show that when the economy is growing at a rate that is positive, but not too high the model also implies that households will not be able to service their debt at the point of full long run equilibrium. We then conclude that this household debt-financed consumption pattern of economic growth generates an internal dynamic that leads to financial instability.
    In: PSL quarterly review, Roma : [Verlag nicht ermittelbar], 2008, 75(2022), 302 vom: Sept., Seite 241-262, 2037-3643
    In: volume:75
    In: year:2022
    In: number:302
    In: month:09
    In: pages:241-262
    Language: English
    Keywords: Aufsatz in Zeitschrift
    DOI: 10.13133/2037-3643/17644
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