Alessandro Roncaglia's research while affiliated with Sapienza University of Rome and other places

Publications (39)

Article
Full-text available
Quest'opera è distribuita con licenza internazionale Creative Commons Attribuzione-Non commerciale-Non opere derivate 4.0. Copia della licenza è disponibile alla URL http://creativecommons.org/licenses/by-nc-nd/4.0/ vol. 73 n. 291 (settembre 2020) L'Unione Europea e l'euro: crescere o perire CARLO D'IPPOLITI, MARIA CHIARA MALAGUTI, ALESSANDRO RONCA...
Chapter
The chapter explores similarities between Keynes and Sraffa, suggesting a fruitful symbiosis of the two approaches. Both challenged neoclassical price theories. Keynes formulated a ‘monetary theory of production’ that led to a liquidity preference theory of financial asset prices; Sraffa a theory of prices of production. Keynes rejected the idea of...
Book
Cambridge Core - Political Economy - The Age of Fragmentation - by Alessandro Roncaglia
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This chapter illustrates Piero Sraffa’s life and works, from his early writings on money and his articles on the theory of the firm up to his edition of Ricardo’s works and correspondence and his book, Production of Commodities by Means of Commodities. It recalls Sraffa’s influence on Gramsci and Wittgenstein, and his intellectual relationship with...
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My aim in this chapter is to summarize the salient points in Antonio Serra’s contribution to economic culture, starting from some reflections on the fortunes, or perhaps, rather, misfortunes that it subsequently met with.
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1. Introduction It is quite difficult to point to a specific time as marking the birth of political economy as a social science. There are good reasons to invoke the name of William Petty (1623–87) in this respect, and his political arithmetic; however, some important notions were already present in previous writings. Often, such notions first appe...
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The relationship between economics and statistics is discussed within the perspective of the history of economic thought. A common origin is traced to William Petty’s political arithmetic. His inductive method, as well as its roots in Bacon, is illustrated; it implies that importance be attributed to a first step of analysis consisting in organisin...
Article
The article introduces the papers published in the present issue. It does so by elaborating a few comments on the role of institutions for economic development and how should economics analyse institutions.
Article
Economists commonly specialize in some limited parts of the general field. This is a necessity, due to the complexity of the different issues, the amount of literature available on each of them and the possibility of recourse to different analytical or statistical tools. However, specialization has its drawbacks. Quite often, specialists in the fie...
Article
The article comments on the contributions by Aldo Montesano and Roberto Cellini in this number, in particular focussing on the evolution of economic thought and the changing definitions of economics and of political economy. It is here argued that the historical evolution of the discipline should induce economists to abstain from providing a precis...
Article
A marginalist notion of scarcity is opposed to a Classical-Keynesian-Sraffian notion. The two notions are analyzed; the limits of the first notion are discussed. The second notion points to the limits to what the economy can attain at a given moment in time; within this framework, scarcity depends not only on technology but also on the possibility...
Article
Full-text available
The article synthesizes the large and extending literature on the financial and economic crisis from a Post-Keynesian point of view. The authors take on the position that the international and internal real imbalances are serious and worrying, but yet they are not the cause of the crisis or of its tremendous dimension. The flawed and insufficient r...
Article
The financial and economic crisis brings to a reconsideration of macroeconomics: as it happened in the past, after the Great Crash of 1929 as well as after the Second World War and after the collapse of the Bretton Woods system in 1971 and the subsequent oil crisis. A brief critical survey of mainstream macroeconomics (the neoclassical synthesis an...
Article
The brief note introduces the article collected in the present issue of the journal. It places the various contributions in perspective, critically summarizing the major economic developments since the publication of the last issue. La breve nota introduce l'articolo raccolto nel numero attuale della rivista. Essa riassume i principali sviluppi eco...
Article
The article is an introduction to the new issue of the Journal. It provides an overview of the current economic and financial situation and summarises the main topics dealt with by the following articles. Retrenchment of public expenditure is once again being called for by international agencies as well as by leading economists and politicians. The...
Article
The article is an introduction to the new issue of the Journal. It provides an overview of the current economic and financial situation and summarises the main topics dealt with by the following articles.
Article
Full-text available
The article synthesises the large and extending literature on the financial and economic crisis from a Post-Keynesian point of view. The authors take on the position that the international and internal real imbalances are serious and worrying, but yet they are not the cause of the crisis or of its tremendous dimension. The flawed and insufficient r...
Article
The article is an introduction to the new issue of the Journal. It provides an overview of the current economic and financial situation and summarises the main topics dealt with by the following articles.
Article
After recalling the financial origin of the crisis and the persistent worldwide fragility of the financial sector, and after citing papers which before 2007 had pointed out the elements of systemic fragility of the US and world economy, the paper illustrates the cultural roots of the crisis, namely the economic views which favoured deregulation pol...
Article
Con questo numero, Moneta e Credito prosegue la sua nuova vita dopo l’interruzione connessa al passaggio di proprietà dalla Banca Nazionale del Lavoro all’Associazione Paolo Sylos Labini. Tale interruzione è stata colmata con i numeri speciali per il 2008 e per il 2009 usciti negli ultimi mesi dell’anno scorso. Il numero speciale per il 2008 contie...
Article
The present issue of PSL Quarterly Review includes three articles: by Mario Sarcinelli, on the need for structural regulations on financial institutions in order to avoid a new systemic crisis; by Mario Tonveronachi, on the limits of the official regulatory responses to the current crisis; by Hossein Askari and Noureddine Krichene, on the inflation...
Article
This is the first “regular†issue of PSL Quarterly Review, after the two special issues for 2008 and 2009. As an economists’ phoenix, the Review is born out of the ashes of its forerunner, the BNL Quarterly Review, after a change in ownership, from Banca Nazionale del Lavoro to the Associazione Paolo Sylos Labini. The “new†Quarterly retain...
Article
Questo numero speciale della Rivista trimestrale PSL comprende alcuni articoli apparsi nel corso degli anni nella prima serie della nostra rivista (allora intitolato BNL Quarterly Review: vedi Roncaglia 2008). Gli articoli pubblicati di seguito sono stati selezionati tra quelli che possono aiutarci a comprendere meglio le radici della crisi economi...
Article
This special issue of the PSL Quarterly Review includes some articles which appeared over the years in the first series of our journal (then entitled BNL Quarterly Review: see Roncaglia 2008). The articles published below have been selected among those that can help us to best understand the roots of the current economic crisis and the problems tha...
Article
Most interpreters agree that Keynes had a wide-ranging, complex, 'vision of the world', which underlies his theoretical contributions. Whenever this is forgotten, as happens in the so-called neoclassical synthesis, not only the original Keynesian spirit goes lost but also, and especially, we lose substantive bricks for our theoretical constructions...
Article
Questo numero speciale di Moneta e Credito ripropone alcuni articoli apparsi nel corso degli anni sulla rivista, scelti tra quelli che possono aiutarci a comprendere le radici della crisi economica in corso e i problemi che possono ostacolarne il superamento o, peggio, dare luogo a ulteriori difficoltà . Nel momento in cui la rivista riprende il su...
Article
Con questo numero speciale si apre una nuova stagione della storia della nostra rivista. In una fase di ristrutturazioni interne, la Banca Nazionale del Lavoro ha concordato la cessione della proprietà della rivista stessa e della sua consorella Quarterly Review all' Associazione Paolo Sylos Labini, mantenendo un collegamento tramite una sponsorizz...
Article
The article introduces the first issue of the PSL Quarterly Review (formerly known as Banca Nazionale del Lavoro Quarterly Review, or simply BNL Quarterly Review). In this work, Alessandro Roncaglia, editor of the journal, summarizes and personally re-interprets the decades-long history of the journal and of its sister journal Moneta e Credito. Bes...
Article
Con questo numero speciale si apre una nuova stagione della storia della nostra rivista. In una fase di ristrutturazioni interne, la Banca Nazionale del Lavoro – Gruppo BNP-Paribas ha concordato la cessione della proprietà della rivista stessa e della sua consorella Quarterly Review all’Associazione Paolo Sylos Labini, mantenendo un collegament...
Chapter
Sir William Petty was born on 26 May 1623 in the village of Romsey, Hampshire, and died on 26 December 1687 in London. His life was hectic: son of a clothier, he was a cabin boy on a merchant ship at 13, admitted to the Jesuit college in Caen (France) at 14; after serving in the Royal Navy he sought refuge in the Netherlands (1643) and Paris (1645)...
Article
In this article, Alessandro Roncaglia renders a careful and detailed intellectual tribute to the memory of Paolo Sylos Labini. Roncaglia’s contribution provides at once a biographical account and recounts the intellectual trajectory of his Italian colleague. While Sylos Labini’s theory of oligopoly and his market forms obviously take centre stage i...

Citations

... It is worth reminding that, far more in this era of "economic thought fragmentation" (Roncaglia, 2006(Roncaglia, , 2019, 1 each of these research areas is variegated and often is poorly structured into handbooks or academic courses. The authors who rubric themselves into each of them usually share only some of the distinctive points. ...
... William Petty [20] was the first to notice the evolution of industrial structure. According to Petty, he believes that "the income of industry is more than that of agriculture, and the income of commerce is more than that of industry". ...
... By this I mean a paper relating to transportation needs to hold some relevance for those who are experts in other areas such as land use, environment, housing, community development, and so on. Perhaps more important, a paper using a particular theoretical or methodological approach has to engage those who may see things quite differently (Roncaglia, 2013). To some extent, generalist journals can be an important locus of resistance to the hyper-specialization so many complain about. ...
... Ne risultò un consenso fideistico verso la teoria dell'equilibrio generale e dei modelli di crescita neoclassici, secondo cui il sistema economico può crescere indefinitamente a condizione che lo Stato non interferisca con il libero gioco dei mercati. Questa concezione errata dell'economia fu portata al parossismo con la deregolamentazione dei sistemi finanziari, creando così una delle principali cause della crisi attuale (Roncaglia, 2010). ...
... Ainda que a "revolução anti-estruturalista" tenha emergido somente nas décadas de 1970 e 1980, a Nova Escola de Chicago fazia oposição à Escola de Harvard desde os anos 1950, evidenciando efeitos prócompetitivos das condutas empresariais e condenando o excessivo viés anti-concentração da política antitruste (que atingiu seu ápice na década de 1960)(Cubero, 2010; Budsinski, 2007, p. 299). ...
... We will also neglect macroeconomics as it existed before Keynes under the name of monetary theory (on this subject, we refer the reader to Laidler (1999) or Dimand (2008)). In addition, our study is limited to mainstream macroeconomics (for a study of non-mainstream approaches, the reader may consult King (2002) or Fine and Milonakis (2008)). ...
... … the periphery gave us frameworks to understand phenomena such as speculative bubbles, leverage cycles, fire sales, liquidity runs … we need to spend much more effort in understanding the topology of interactions in real economies." Roncaglia (2011) suggests that macroeconomic balance sheets are important elements in future macroeconomic models: "The economic crisis we are now experiencing may entail radical changes in … macroeconomics … the series of events leading to the present crisis has made it quite clear that there are no automatic rebalancing mechanisms: thus analysis of the macroeconomic balance sheets and their interactions constitutes an important element in reconstruction of macroeconomics. In itself, the analysis of macroeconomic balance sheets is compatible both with the mainstream theories and with the heterodox theories: the context within which it is applied determines the cause-and-effect links characterizing the various interpretations of the economic events… Much still remains to be done, but the foundations for new macroeconomics are already available". ...
... A sua volta, questa divaricazione ha rinforzato la divergenza nelle partite correnti delle bilance dei pagamenti dei paesi europei, che ha reso parzialmente necessario lo sviluppo della finanza richiamato sopra, con l'accumulo di crediti nei sistemi bancari dei paesi centrali, e di debiti nei paesi periferici (D'Ippoliti e Roncaglia, 2011). La necessità di tutelare il valore dei propri attivi finanziari, da un lato, e di rifinanziare costantemente i propri debiti, dall'altro, ha reso i paesi membri dell'UME finanziariamente fragili nel senso di Minsky, cioè esposti a forti rischi di crisi, anche di solvibilità, qualora per qualsiasi ragione si fossero verificati problemi di liquidità. ...
Reference: Moneta e Credito
... It is now over thirty years since my paper "The balance of payments constraint as an explanation of international growth rate differences" was first published in BNL Quarterly Review, March 1979(republished in the present issue as Thirlwall, 2011. I am very grateful to the editor, Alessandro Roncaglia, for accepting it (see Roncaglia, 2008) because it has generated a lot of interest, which surprises me in a way, because the basic idea is so simple, and is not new. In this introduction I am going to describe the background to the formulation of the model (and its extensions), and to discuss the historical antecedents of the view that the balance of payments of a country matters for its long-run growth performance. ...
... Expectations at stake here should be viewed as objective-contrary to Frank Knight's (1921) or Frank Ramsey's (1931) subjective treatment of uncertainty-in the sense that the probability formed is independent of our own judgment (Runde 1994, Roncaglia 2009). Keynes is explicit on this issue in the first chapter of his Treatise on Probability: ...