Gattopardo economics: the crisis and the mainstream response of change that keeps things the same
Gattopardo constitutes change that keeps things the same. Gattopardo is relevant for understanding the economics profession's response to the financial crash of 2008. This paper explores gattopardo economics as it applies to the issues of the macroeconomics of income distribution; the global financial imbalances; and inflation policy. Gattopardo economics adopts ideas developed by critics of mainstream economics, but it does so in a way that ignores the thrust of the original critique and leaves mainstream analysis unchanged. Gattopardo economics makes change more difficult because it deceives people into thinking change has taken place. By masquerading as change, it crowds-out space for real change. That makes exposing gattopardo economics a matter of vital importance.
Volume (Year): 10 (2013)
Issue (Month): 2 ()
|Contact details of provider:|| Web page: http://www.elgaronline.com/ejeep|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Till van Treeck, 2012. "Did inequality cause the U.S. financial crisis?," IMK Working Paper 91-2012, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
- Harris, Donald J, 1974. "The Price Policy of Firms, the Level of Employment and Distribution of Income in the Short Run," Australian Economic Papers, Wiley Blackwell, vol. 13(22), pages 144-51, June.
- Thomas Palley, 2010. "The Relative Permanent Income Theory of Consumption: A Synthetic Keynes-Duesenberry-Friedman Model," Review of Political Economy, Taylor & Francis Journals, vol. 22(1), pages 41-56.
- repec:cup:cbooks:9781107016620 is not listed on IDEAS
- Thomas I. Palley, 2011. "Explaining Global Financial Imbalances: A Critique of the Saving Glut and Reserve Currency Hypotheses," IMK Working Paper 13-2011, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
- Thomas Palley, 2005. "The Questionable Legacy of Alan Greenspan," Challenge, M.E. Sharpe, Inc., vol. 48(6), pages 17-31, November.
- Palley, Thomas I., 2009. "America's exhausted paradigm: Macroeconomic causes of the financial crisis and great recession," IPE Working Papers 02/2009, Berlin School of Economics and Law, Institute for International Political Economy (IPE).
- Thomas I. Palley, 2013.
"Gattopardo economics: The crisis and the mainstream response of change that keeps things the same,"
IMK Working Paper
112-2013, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
- Thomas I. Palley, 2013. "Gattopardo economics: the crisis and the mainstream response of change that keeps things the same," European Journal of Economics and Economic Policies: Intervention, Edward Elgar, vol. 10(2), pages 193-206.
- Thomas I. Palley, 2002. "Economic contradictions coming home to roost? Does the U.S. economy face a long-term aggregate demand generation problem?," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 25(1), pages 9-32, January.
- 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.
- Thomas I. Palley, 1993. "Under-Consumption and the Accumulation Motive," Review of Radical Political Economics, Union for Radical Political Economics, vol. 25(1), pages 71-86, March.
- Thomas Palley, 1997. "Endogenous money and the business cycle," Journal of Economics, Springer, vol. 65(2), pages 133-149, June.
When requesting a correction, please mention this item's handle: RePEc:elg:ejeepi:v:10:y:2013:i:2:p193-206. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Helen Craven)
If references are entirely missing, you can add them using this form.