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Sfide riformiste: Federico Caffè e le politiche dell'offerta (Reformist challanges: Federico Caffè and the supply side economics)

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  • Maurizio Franzini

    (Università ‘La Sapienza’, Roma - Dipartimento di Economia e Diritto)

Abstract

In the early ’80s a revolution took place in economics: the idea that supply side factors are all what matter for good economic performances was established with profound consequences also for policy making. The success of supply side economics was the beginning of the decline of Keynesian economics with its traditional emphasis on demand as the source of problems in a capitalist economy and the main objective of government intervention. Federico Caffè faced with these new tendencies and the poor performance of most advanced economies asserted that policies aimed at improving the supply side were not in conflict with the true Keynesian approach provided that the demand side was not overlooked. The present essay analyses Caffè’s ideas on the possibility of reconciling Keynes with the supply side and show how they are connected to his peculiar approach to economic reformism

Suggested Citation

  • Maurizio Franzini, 2015. "Sfide riformiste: Federico Caffè e le politiche dell'offerta (Reformist challanges: Federico Caffè and the supply side economics)," Il Pensiero Economico Italiano, Fabrizio Serra Editore, Pisa - Roma, vol. 23(2), pages 127-134.
    • Handle: RePEc:pei:journl:v:23:y:2015:2:9:p:127-134
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    Keywords

    xx secolo; pensiero economico italiano; Federico Caffè; politiche dell’offerta; riformismo (xx century; Italian economic thought; Federico Caffè; supply side economics; reformism);
    All these keywords.

    JEL classification:

    • B20 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - General
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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