Una riconsiderazione degli studi da Kalecki sull'economia statunitense
AbstractKalecki devised a novel method of analysis, which was also used by some of his collaborators.Unfortunately however, that method has not had the impact it deserves on applied research, not even among his followers. The objective of the present paper is to revisit Kalecki’s applied studies. I will in the first place explain and discuss Kalecki’s outlook and methodology. In the second place, I will use it to see how much it can help to understand the recent evolution of the US economy. In the current US crisis, monetary policy, in the shape of quantitative easing and historically low rates of interest, has been hailed by publicists and pundits as the solution to confront the decline of private spending and the business downswing. The results of have been rather disappointing. Using Kalecki’s approach and methodology, I have verified that it has been public spending that has played the key role to avoid a deeper crisis than the one that actually took place.
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Bibliographic InfoArticle provided by Economia civile in its journal Moneta e Credito.
Volume (Year): 65 (2012)
Issue (Month): 257 ()
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Web page: http://www.economiacivile.it
Find related papers by JEL classification:
- E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian
- B32 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Obituaries
- G01 - Financial Economics - - General - - - Financial Crises
- B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
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- Julio Lopez & Tracy Mott, 1999. "Kalecki Versus Keynes on the Determinants of Investment," Review of Political Economy, Taylor & Francis Journals, vol. 11(3), pages 291-301.
- Kazimierz Laski & Roman Römisch, 2001. "Growth and Savings in USA and Japan," wiiw Working Papers 16, The Vienna Institute for International Economic Studies, wiiw.
- Cynamon Barry Z. & Fazzari Steven M., 2008. "Household Debt in the Consumer Age: Source of Growth--Risk of Collapse," Capitalism and Society, De Gruyter, vol. 3(2), pages 1-32, October.
- Aldo Barba & Massimo Pivetti, 2009. "Rising household debt: Its causes and macroeconomic implications--a long-period analysis," Cambridge Journal of Economics, Oxford University Press, vol. 33(1), pages 113-137, January.
- Fitoussi Jean Paul & Saraceno Francesco, 2010. "Europe: How Deep Is a Crisis? Policy Responses and Structural Factors Behind Diverging Performances," Journal of Globalization and Development, De Gruyter, vol. 1(1), pages 1-19, January.
- Carlo D'Ippoliti, 2014. "Introduction: welcoming a new editorial board," PSL Quarterly Review, Economia civile, vol. 67(268), pages 3-8.
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