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Crisi economiche e distribuzione del reddito nel pensiero di Achille Loria (Economic crises and income distribution in Achille Loria's thought)

Author

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  • Guglielmo Forges Davanzati

    (Università del Salento - Dipartimento di Filosofia e Scienze Sociali)

Abstract

The aim of this paper is to provide a reconstruction of Achille Loria’s thought on economic crises and income distribution. It will be shown that, in the event of high levels of employment, capitalists tend to react by reducing the wages fund via the increase in the consumption of ‘luxury goods’. This determines a reduction of the unitary wage, until the minimum socially acceptable is reached, and a drop in employment and production. The re-reading of Loria’s thought presented here is conceived in the light of the similarities between his analysis and the ‘institutionalist’ theoretical framework.

Suggested Citation

  • Guglielmo Forges Davanzati, 2007. "Crisi economiche e distribuzione del reddito nel pensiero di Achille Loria (Economic crises and income distribution in Achille Loria's thought)," Il Pensiero Economico Italiano, Fabrizio Serra Editore, Pisa - Roma, vol. 15(1), pages 59-77.
    • Handle: RePEc:pei:journl:v:15:y:2007:1:3:p:59-77
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    More about this item

    Keywords

    Achille Loria; crisi economiche; distribuzione del reddito; disoccupazione (Achille Loria; economic crises; income distribution; unemployment);
    All these keywords.

    JEL classification:

    • B15 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Historical; Institutional; Evolutionary
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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