Harrod, Kaldor, and the Idea of the "Foreign Trade Multiplier” - Harrod, Kaldor e l’idea dell’esistenza di un “moltiplicatore del commercio estero”
Many authors, inspired by the so-called ‘post-Keynesian’ theories, focused their attention on the idea of the ‘Harrod’s foreign trade multiplier’ which is different from the traditional open market Keynesian multiplier. This idea, re-discovered by Nicholas Kaldor, is a topical subject in the current debate on the so-called Thirlwall’s Law, that he considered as the ‘dynamic’ version of that multiplier. In the light of the different editions of International Economics and of the precious papers collected in the recent publication of the Collected Interwar Papers and Correspondence of Roy Harrod edited by Daniele Besomi, we notice how Harrod kept his distance from that idea: after a long discussion with Kahn, Robertson, Meade and Keynes, he denied the existence of an automatic mechanism to adjust the balance of payments, as maintained in the Kaldorian tradition. - L’idea dell’esistenza di un “moltiplicatore del commercio estero di Harrod” distinto dal tradizionale moltiplicatore keynesiano di mercato aperto è da tempo oggetto di attenzione da parte di numerosi autori che si ispirano al filone di pensiero cosiddetto “post-keynesiano”. Riscoperta da Nicholas Kaldor, quell’idea è tornata di attualità nell’ambito del dibattito sulla cosiddetta “legge di Thirlwall”, che il suo stesso ideatore considera la versione “dinamica” del “moltiplicatore del commercio estero di Harrod”. Alla luce delle varie edizioni di International Economics e della preziosa documentazione contenuta nella recente edizione dei Collected Interwar Papers and Correspondence of Roy Harrod (CIPC) curata da Daniele Besomi, emerge chiaramente come, alla fine di una lunga discussione che ha visto impegnati Kahn, Robertson, Meade e lo stesso Keynes, diversamente da quanto si sostiene nella tradizione kaldoriana, Harrod abbia preso le distanze dalla sua idea originaria.
Volume (Year): 65 (2012)
Issue (Month): 1 ()
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- A. P. Thirlwall, 1983. "A Plain Man's Guide to Kaldor's Growth Laws," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 5(3), pages 345-358, April.
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- Daniele Besomi, 2000. "On the Spread of an Idea: The Strange Case of Mr. Harrod and the Multiplier," History of Political Economy, Duke University Press, vol. 32(2), pages 347-380, Summer.
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- A.P. Thirlwall, 1974. "Regional Economic Disparities and Regional Policy in the Common Market," Urban Studies, Urban Studies Journal Limited, vol. 11(1), pages 1-12, February. Full references (including those not matched with items on IDEAS)
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