IDEAS home Printed from https://ideas.repec.org/p/ipu/wpaper/53.html
   My bibliography  Save this paper

Sraffa, Keynes, Rendite e Sistema Fiscale

Author

Listed:
  • Giuseppe Vitaletti

    (Università Tuscia)

Abstract

In the first and second paragraphs the following four important conclusions are reached: a) the price system revolves around an average, with prices depending on technology and the ratio between interest and wages; b) the GDP tends to grow, with fluctuations: this is mostly due to the influence of industry; c) when Investment overtakes Saving, the rate of interest is high; when, on the contrary, Saving overtakes Investment, the rate of interest tends to zero. This happens even if Investment is high; d) the situation of full employment tends to be preserved in any case, because the difference between Saving and Investment is filled up by money, which is one of the commodities of the system. Mathematics has been used to reach such conclusions. In the third and fourth paragraphs no mathematical instrument is used. Five propositions emerge: e) the Keynesian situation, and specifically unemployment, depends on the fact that money is paper-money, and it is no longer one of the commodities of the economic system; f) the only remedy is public debt. When debt becomes high, the rate of interest grows into a sort of rent: an international agreement is needed, to make the rate of interest converge structurally to zero, with regulated exceptions. The control of interest can be of the fiscal type; g) the rents due to decreasing returns are increasingly high. Agriculture, extraction of raw materials, real estate are the principal sectors of generation of such rents; h) an important source of rents, which is stressed in this paper, lies in increasing returns: these ones are due in the first place to markets in which it is normally impossible to enter, and in which there are firms with different quantities: the greater quantities imply rents. Other rents are attached to this situation. All together rents reach around 40% of national GDPs; i) the only way to treat the phenomenon of rents is a fiscal system, which, instead of the present ones, is inspired by De Viti’s and Einaudi’s main ideas. The basis is the benefit principle, and the reporting of the fiscal sovereignty to the nation. The context is a system of soft international regulation, with agreements on public deficit, on the basic rates of taxation, on levies on imports. These arrangements are among the big areas of the world, which agree to the balance in the foreign exchange among them. Only with such organization is it possible to restore the equilibrium between the State and the market.

Suggested Citation

  • Giuseppe Vitaletti, 2017. "Sraffa, Keynes, Rendite e Sistema Fiscale," Working papers 53, Società Italiana di Economia Pubblica.
  • Handle: RePEc:ipu:wpaper:53
    as

    Download full text from publisher

    File URL: http://www.siepweb.it/siep/wp/wp-content/uploads/repec/1488190603Vitaletti_WP_SIEP_719.pdf
    File Function: Full text
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    Sraffa; Keynes; rate of interest; rents; De Viti de Marco; Einaudi; fiscal system;
    All these keywords.

    JEL classification:

    • D2 - Microeconomics - - Production and Organizations
    • D3 - Microeconomics - - Distribution
    • E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
    • H2 - Public Economics - - Taxation, Subsidies, and Revenue
    • H5 - Public Economics - - National Government Expenditures and Related Policies
    • H6 - Public Economics - - National Budget, Deficit, and Debt

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ipu:wpaper:53. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Monica Bozzano (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.