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Unproductive Capital and the Long Run Tendency in the Distribution of Income and Wealth: an Early Analysis by Supino

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  • Massimo Di Matteo

    (University of Siena - Department of International and Political Sciences)

Abstract

The paper concerns the work by Supino (1860-1931) on capitalism development and evolution with a particular emphasis on his La borsa e il capitale improduttivo published in 1898. There are four parts. First a sketch of Supino’s interpretation of the crises is offered. Then the concept of unproductive capital is introduced and its roots in the classical analysis are stressed. After a discussion of the different forms which unproductive capital can assume in the financial sector, its effects on the distribution and production of income and wealth are described noting the originality of the analysis. Finally a connection with the present debate on long term distribution of income and wealth is presented which warrants the present interest in Supino’s early analysis

Suggested Citation

  • Massimo Di Matteo, 2016. "Unproductive Capital and the Long Run Tendency in the Distribution of Income and Wealth: an Early Analysis by Supino," Il Pensiero Economico Italiano, Fabrizio Serra Editore, Pisa - Roma, vol. 24(2), pages 91-104.
    • Handle: RePEc:pei:journl:v:24:y:2016:2:7:p:91-104
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    More about this item

    Keywords

    Unproductive capital; financial capital; wealth and income distribution;
    All these keywords.

    JEL classification:

    • B12 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Classical (includes Adam Smith)
    • B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist
    • B15 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Historical; Institutional; Evolutionary
    • E25 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Aggregate Factor Income Distribution
    • E44 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Financial Markets and the Macroeconomy

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