Pasinetti and the Classical Keynesians: Nine Methodological Issues PDF
Preview Pasinetti and the Classical Keynesians: Nine Methodological Issues
| Pasinetti and the Classical Keynesians Recenteconomicandfinancialcriseshaveexposedmainstreameconomics to severe criticism, bringing present research and teaching styles into question.Buildingonasolidandvividtraditionofeconomicthought,this book challenges conventional thinking in the field of economics. The authors turn to the work of Luigi Pasinetti, who proposed a list of nine methodological and theoretical ideas that characterise the Classical KeynesianSchool.DrawinginspirationfrombothKeynesandSraffa,this school has forged a long-standing and ambitious research programme often advocated as a competing paradigm to mainstream economics. Overall,theClassicalKeynesianSchoolprovidesacomprehensiveanalyt- ical framework into which most non-mainstream schools of thought can beintegrated.Inthiscollection,agroupofleadingscholarscriticallyassess the nine main ideas that, in Pasinetti’s view, characterise the Classical Keynesian approach, evaluating their relevance for both the history of economicsandforpresenteconomicresearch. enrico bellino is Professor of Political Economy at Università CattolicadelSacroCuore. sebastiano nerozzi isProfessorofHistoryofEconomicThoughtand BusinessHistoryatUniversitàCattolicadelSacroCuore. Pasinetti and the Classical Keynesians Nine Methodological Issues Edited by enrico bellino UniversitàCattolicadelSacroCuore sebastiano nerozzi UniversitàCattolicadelSacroCuore UniversityPrintingHouse,CambridgeCB28BS,UnitedKingdom OneLibertyPlaza,20thFloor,NewYork,NY10006,USA 477WilliamstownRoad,PortMelbourne,VIC3207,Australia 314–321,3rdFloor,Plot3,SplendorForum,JasolaDistrictCentre, NewDelhi–110025,India 103PenangRoad,#05-06/07,VisioncrestCommercial,Singapore238467 CambridgeUniversityPressispartoftheUniversityofCambridge. ItfurtherstheUniversity’smissionbydisseminatingknowledgeinthepursuitof education,learning,andresearchatthehighestinternationallevelsofexcellence. www.cambridge.org Informationonthistitle:www.cambridge.org/9781108831116 DOI:10.1017/9781108923309 ©CambridgeUniversityPress2021 Thispublicationisincopyright.Subjecttostatutoryexception andtotheprovisionsofrelevantcollectivelicensingagreements, noreproductionofanypartmaytakeplacewithoutthewritten permissionofCambridgeUniversityPress. Firstpublished2021 AcataloguerecordforthispublicationisavailablefromtheBritishLibrary. ISBN978-1-108-83111-6Hardback CambridgeUniversityPresshasnoresponsibilityforthepersistenceoraccuracy ofURLsforexternalorthird-partyinternetwebsitesreferredtointhispublication anddoesnotguaranteethatanycontentonsuchwebsitesis,orwillremain, accurateorappropriate. Contents List of Contributors pagevii Foreword: The PoliticalEconomy ofLuigiPasinetti ix Mauro Baranzini, Alberto QuadrioCurzio and Roberto Scazzieri Introduction 1 EnricoBellino and Sebastiano Nerozzi 1 Reality (and Not Simply Abstract Rationality) as the StartingPointof EconomicTheory 13 Maria Cristina Marcuzzo 2 Economic Logic with Internal Consistency (andNot Only Formal Rigour): Realism and Internal Consistency in Piero Sraffa 30 Neri Salvadoriand Rodolfo Signorino 3 Malthus and the Classics(Not Walras and the Marginalists) asthe Major Inspiring Source in the Historyof EconomicThought: The Principle of Effective Demand and ClassicalEconomics 50 Heinz D. Kurz 4 Non-ergodic (in Place of Stationary, Timeless) Economic Systems:ConsiderationsSuggested by Joan Robinson’s Distinction between Two ‘Notions’ of Time in Economic Theory 79 Ariel Dvoskin and Paolo Trabucchi 5 Causality vs. Interdependence: ADistinction That Conveys a World’s View 112 EnricoBellino and Sebastiano Nerozzi v vi Contents 6 Macroeconomics before Microeconomics: A Sceptic’s Guide toMacroeconomics 157 Murray Milgate and John Eatwell 7 Disequilibrium and Instability(Not Equilibrium) as the NormalState of theIndustrial Economies: AMethodologicalStandpoint on Structural EconomicDynamics 187 Ariel LuisWirkierman 8 NecessityofFindinganAppropriateAnalytical FrameworkforDealingwithTechnicalChangeand EconomicGrowth:TechnicalChange,Structural DynamicsandEmployment 214 Harald Hagemann 9 AStrong,DeeplyFelt, Social Concern 233 ClaudiaRotondi 10 Why theClassic-Keynesian Trend May Be of Interest toa Young Scholar Today 259 Nadia Garbellini 11 Pasinetti’sSeparation Theorem 290 Bertram Schefold Author Index 317 Contributors mauro baranzini Universitàdella SvizzeraItaliana enrico bellino UniversitàCattolica del Sacro Cuore ariel dvoskin Universidad Nacionalde SanMartin john eatwell Queens’ College, University ofCambridge nadia garbellini Universitàdegli Studi diModena eReggio Emilia harald hagemann Universität Hohenheim heinz d. kurz Universität Graz maria cristina marcuzzo Universitàdi RomaLa Sapienza murray milgate Queens’ College, University ofCambridge sebastiano nerozzi UniversitàCattolica del Sacro Cuore vii viii ListofContributors alberto quadrio curzio Università CattolicadelSacro Cuore claudia rotondi Università CattolicadelSacro Cuore neri salvadori Università diPisa roberto scazzieri Università diBologna bertram schefold Goethe-Universität, Frankfurt rodolfo signorino Università degli Studi diPalermo paolo trabucchi Università deglStudiRomaTre ariel luis wirkierman Goldsmiths, Universityof London
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