Pierangelo Garegnani: le implicazioni di politica economica della critica dell’economia politica

Journal title QA Rivista dell’Associazione Rossi-Doria
Author/s Antonella Palumbo, Attilio Trezzini
Publishing Year 2011 Issue 2011/4
Language Italian Pages 14 P. 143-156 File size 736 KB
DOI 10.3280/QU2011-004005
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Pierangelo Garegnani: Policy Implications of the Critique of Political Economy Notwithstanding his fundamental contribution to the critique of the neoclassical notion of capital, we maintain that Pierangelo Garegnani’s research has been especially characterized by the reconstruction of an alternative approach to economics. Following Sraffa’s lead, Garegnani found such an alternative approach in the Classical theory of value and distribution, and put forward a Classical-Keynesian theory for output determination. In this approach, prices are not scarcity indexes, the absence of any spontaneous tendency to full employment abolishes optimality of market economies, income distribution results from social − not natural − forces. The policy implications of this approach are considered.

Keywords: Pierangelo Garegnani, Piero Sraffa, Capital theory, Classical surplus approach, Effective demand

Jel codes: B320, D300, D460, E110

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Antonella Palumbo, Attilio Trezzini, Pierangelo Garegnani: le implicazioni di politica economica della critica dell’economia politica in "QA Rivista dell’Associazione Rossi-Doria" 4/2011, pp 143-156, DOI: 10.3280/QU2011-004005