Sulle condizioni per una “rivoluzione” della teoria e della politica economica

Emiliano Brancaccio

Abstract


In linea con la tradizione del Massachusetts Institute of Technology di cui fanno parte, i modelli macroeconomici mainstream di Olivier Blanchard possono essere sottoposti a un “ribaltamento” logico in grado di renderli compatibili con schemi alternativi che rifiutano la teoria neoclassica dei prezzi come indici di scarsità e il nesso tra produzione e distribuzione che da essa scaturisce. Tale ribaltamento logico sembra in grado di offrire una più solida base teorica alla “rivoluzione” della politica macroeconomica recentemente invocata da Blanchard e Summers, che viene qui sottoposta a un esame critico.

In line with the Massachusetts Institute of Technology tradition to which they belong, the macroeconomic models by Olivier Blanchard may be subjected to a logical “reversal” capable of making them consistent with those alternative schemes that reject the neoclassical theory of prices as scarcity indexes and the link between production and distribution resulting from it. This logical reversal seems able to offer a more solid theoretical basis for the macroeconomic policy “revolution” recently invoked by Blanchard and Summers, critically examined here, than the authors’ own schemes.

JEL codes: B5, D33, E1, E6

 

Parole chiave


Macroeconomic theory and policy, theories of prices and distribution, capitalism and socialism

Full Text

PDF

Riferimenti bibliografici


Blanchard O. (2006), “European Unemployment: The Evolution of Facts and Ideas”, Economic Policy, 21 (45), pp. 6-59.

Blanchard O. (2012), “The logic and fairness of Greece’s programme”, Voxeu.org, 23 marzo, disponibile alla URL: https://voxeu.org/article/logic-and-fairness-greece-s-programme.

Blanchard O. (2016), Macroeconomics, 7a ed., London: Pearson.

Blanchard O. e Brancaccio E. (2019a), “Pensare un’alternativa. Dialogo tra Olivier Blanchard e Emiliano Brancaccio”, Micromega, 2, pp. 7-30.

Blanchard O. e Brancaccio E. (2019b), “Crisis and Revolution in Economic Theory and Policy: A Debate”, Review of Political Economy (Published online: 06 Aug 2019).

Blanchard O. e Giavazzi F. (2002), “Current Account Deficits in the Euro Area: The End of the Feldstein Horioka Puzzle?”, Brookings Papers on Economic Activity, 33 (2), pp. 147-209, disponibile alla URL: https://www.brookings.edu/wp-content/uploads/2002/06/2002b_bpea_blanchard.pdf.

Blanchard O. e Summers L. (1986), “Hysteresis and the European Unemployment Problem”, NBER Macroeconomics Annual, 1 (Fall), pp. 15-78.

Blanchard O. e Summers L. (2019), “Ripensare la politica macroeconomica: evoluzione o rivoluzione?”, Moneta e Credito, 72 (287), pp. 171-195.

Blanchard O. e Summers L. (2017), “Rethinking Stabilization Policy: Evolution or Revolution?”, NBER Working Paper, n. 24179, Cambridge (MA): National Bureau of Economic Research.

Blanchard O., Amighini A. e Giavazzi F. (2017), Macroeconomics. A European Perspective, 3a ed., London: Pearson.

Brancaccio E. (2010), “On the Impossibility of Reducing the Surplus Approach to a Neo-Classical ‘Special Case’: A Criticism of Hahn in a Solowian Context”, Review of Political Economy, 22 (3), pp. 405-418.

Brancaccio E. (2012), “Current Account Imbalances, the Eurozone Crisis and a Proposal for a ‘European Wage Standard’”, International Journal of Political Economy, 41 (1), pp. 47-65.

Brancaccio E. e Bracci G. (2019), Il discorso del potere. Il premio Nobel per l’economia tra scienza, ideologia e politica, Milano: Il Saggiatore.

Brancaccio E. e Califano A. (2018), Anti-Blanchard Macroeconomics. A Comparative Approach, Cheltenham (UK) e Northampton (MA, USA): Edward Elgar.

Brancaccio E. e Fontana G. (2016), “‘Solvency Rule’ and Capital Centralisation in a Monetary Union”, Cambridge Journal of Economics, 40 (4), pp. 1055-1075.

Brancaccio E. e Saraceno F. (2017), “Evolutions and Contradictions in Mainstream Macroeconomics: The Case of Olivier Blanchard”, Review of Political Economy, 29 (3), pp. 345-359.

Brancaccio E., Realfonzo R., Rodrik D. et al. (2013), “The Economists’ Warning: European Governments Repeat Mistakes of the Treaty of Versailles”, Financial Times, 23 September (www.theeconomistswarning.com).

Brancaccio E., Garbellini N. e Giammetti R. (2018a), “Structural Labour Market Reforms, GDP Growth and the Functional Distribution of Income”, Structural Change and Economic Dynamics, 44 (marzo), pp. 34-45.

Brancaccio E., Giammetti R., Lopreite M. e Puliga M. (2018b), “Centralization of Capital and Financial Crisis: A Global Network Analysis of Corporate Control”, Structural Change and Economic Dynamics, 45 (giugno), pp. 94-104.

Dobb M. (1973), Theories of Value and Distribution since Adam Smith. Ideology and Economic Theory, Cambridge: Cambridge University Press.

Hahn F. (1982), “The Neo-Ricardians”, Cambridge Journal of Economics, 6 (4), pp. 353-374.

Kurz H. e Salvadori N. (1995), Theory of Production. A Long-Period Analysis, Cambridge: Cambridge University Press.

Rodrik D. (2011), The Globalization Paradox. Democracy and the Future of the World Economy, New York and London: W.W. Norton.




DOI: https://doi.org/10.13133/2037-3651_72.287_3

Refback

  • Non ci sono refbacks, per ora.


Copyright (c) 2019 Emiliano Brancaccio

Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

 

Con il contributo di  

ISSN 2037-3651

Reg. Tribunale di Roma n.377/2009 del 19/11/2009