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Teoria dell'occupazione: due impostazioni a confronto


  • Alessandro Roncaglia

    () (Sapienza University of Rome)


Introducing the publication of a long 1956 letter by Franco Modigliani (FM) to Paolo Sylos Labini (PSL) on the draft of PSL's book, Oligopoly and Technical Progress, the paper critically reviews the theoretical background of FM's comments, showing how the pre-Keynesian roots dominate the so-called neoclassical synthesis as well as its shaky foundations. The paper also discusses FM's interpretation of PSL's oligopoly theory, as well as their collaboration (and differences) on policy issues, such as their opposition to the 100% money wage indexation adopted in Italy from the mid-1970s to the mid-1980s.

Suggested Citation

  • Alessandro Roncaglia, 2014. "Teoria dell'occupazione: due impostazioni a confronto," Moneta e Credito, Economia civile, vol. 67(267), pages 243-270.
  • Handle: RePEc:psl:moneta:2014:31

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    References listed on IDEAS

    1. Franco Modigliani & Jean Paul Fitoussi & Beniamino Moro & Denis Snower & Robert Solo & Alfred Steinherr & Paolo Sylos Labini, 1999. "An Economist’s Manifesto on Unemployment in the European Union," Journal of Income Distribution, Ad libros publications inc., vol. 8(2), pages 1-1, December.
    2. Alessandro Roncaglia & Mario Tonveronachi, 1985. "Pre-Keynesian roots of the neoclassical synthesis," Cahiers d'Économie Politique, Programme National Persée, vol. 10(1), pages 51-65.
    3. Paolo Sylos Labini, 2005. "Franco Modigliani e l’oligopolio," Moneta e Credito, Economia civile, vol. 58(230-231), pages 43-50.
    4. Lorenzo Esposito, 2014. "Con Annibale alle porte. L'internazionalizzazione del sistema bancario e il caso italiano," Moneta e Credito, Economia civile, vol. 67(266), pages 311-338.
    5. Franco Modigliani, 1958. "New Developments on the Oligopoly Front," Journal of Political Economy, University of Chicago Press, vol. 66, pages 215-215.
    6. Franco Modigliani & Tommaso Padoa-Schioppa, 1977. "La politica economica in una economia con salari indicizzati al 100% piu," Moneta e Credito, Economia civile, vol. 30(117), pages 3-53.
    7. Alessandro Roncaglia, 2009. "Keynes and probability: An assessment," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 16(3), pages 489-510.
    8. Rancan, Antonella, 2015. "The Origin Of The Sylos Postulate: Modigliani’S And Sylos Labini’S Contributions To Oligopoly Theory," Journal of the History of Economic Thought, Cambridge University Press, vol. 37(03), pages 431-448, September.
    9. Alessandro Roncaglia, 2014. "Should the History of Economic Thought be Included in Undergraduate Curricula?," Economic Thought, World Economics Association, vol. 3(1), pages 1-1, March.
    10. Antonella Rancan, 2014. "Commento di Modigliani alla teoria della disoccupazione di Sylos Labini (attraverso la corrispondenza del 1956)," Moneta e Credito, Economia civile, vol. 67(267), pages 271-284.
    11. Alessandro Roncaglia, 2012. "Keynesian uncertainty and the shaky foundations of statistical risk assessment models," PSL Quarterly Review, Economia civile, vol. 65(263), pages 437-454.
    12. George J. Stigler, 1947. "The Kinky Oligopoly Demand Curve and Rigid Prices," Journal of Political Economy, University of Chicago Press, vol. 55, pages 432-432.
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    Cited by:

    1. Alessandro Roncaglia, 2015. "Le barriere all’entrata e la politica delle riforme di struttura (Entry barriers and structural reforms)," Moneta e Credito, Economia civile, vol. 68(270), pages 159-171.
    2. Mario Tonveronachi, 2016. "Forme di mercato e sistema finanziario. Spunti dalla testimonianza di Sylos Labini alla Commissione parlamentare di inchiesta sui limiti posti alla concorrenza nel campo economico. (Market structure a," Moneta e Credito, Economia civile, vol. 69(273), pages 109-119.
    3. repec:psl:moneta:2017:24 is not listed on IDEAS

    More about this item


    Macroeconomic theory; Oligopoly; Neoclassical synthesis; Modigliani; Sylos Labini;

    JEL classification:

    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • E13 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Neoclassical
    • E64 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Incomes Policy; Price Policy


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