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L’influenza americana: diagnosi, terapia, prognosi di una pandemia economica

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Author Info
Massimo FLORIO ()

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Abstract

Eighty years after the Great Slump of 1929, the world re-discovers to be exposed to a pandemic economic crisis. There is the urgent need to read again old medicine books, that were prematurely forgotten. I comment some recent papers by economists of various orientation, all published between end 2008 and 2009. The rediscovery of old recipes for economic policy will be painstaking. The central tenet of this paper is that the current financial crisis is rooted in the fall of labor income share in the US, and in the abnormal creation of private debt to sustain capital income.

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Publisher Info
Paper provided by Department of Economics University of Milan Italy in its series Departemental Working Papers with number 2009-15.

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Date of creation: 13 Jul 2009
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Handle: RePEc:mil:wpdepa:2009-15

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Related research
Keywords: Financial global crisis; income shares; private debt;

Find related papers by JEL classification:
E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
E25 - Macroeconomics and Monetary Economics - - Macroeconomics: Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution
E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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This page was last updated on 2009-11-26.


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