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Quanto Keynes c’è in Franco Modigliani?

Author

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  • Luigi Pasinetti

    (Università Cattolica del Sacro Cuore, Istituto di teoria economica e metodi quantitativi, Milano)

Abstract

Modigliani was perceived importance of the General Theory of Keynes even before begin to study economics. After becoming an economist by profession, thanks to his research, both theoretical and applied, its teaching, its recommendations to combat mass unemployment, Modigliani became known worldwide as one of the greatest Keynesian economists. Yet there are many essential elements of the General Theory of Keynes that in the works of Modigliani are not. In this lesson we show how his effort - to use his own expression - to "digest" the innovative ideas of Keynes in the more traditional Walrasian theory lead to the loss of more genuinely revolutionary ideas of Keynes. The author claims - referring to some personal memories - that the belief of Keynes to the need to build a new "monetary theory of production" remains as relevant today as it was at the time it was proposed. More than trying to "digest" the Keynesian revolution, we should try to bring it fully to fruition.

Suggested Citation

  • Luigi Pasinetti, 2005. "Quanto Keynes c’è in Franco Modigliani?," Moneta e Credito, Economia civile, vol. 58(230-231), pages 21-41.
    • Handle: RePEc:psl:moneta:2005:24
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    File URL: http://ojs.uniroma1.it/index.php/monetaecredito/article/view/9731/9617
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    References listed on IDEAS

    as
    1. Joan Robinson, 1962. "Essays in the Theory of Economic Growth," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-00626-7, September.
    2. Hicks, John R [Sir], 1975. "Revival of Political Economy: The Old and the New," The Economic Record, The Economic Society of Australia, vol. 51(135), pages 365-367, September.
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    More about this item

    Keywords

    Franco Modigliani; Keynes; disoccupazione di massa; teoria walrasiana; teoria monetaria della produzione;
    All these keywords.

    JEL classification:

    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity

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