IDEAS home Printed from https://ideas.repec.org/a/psl/moneta/200331.html
   My bibliography  Save this article

Le prospettive dell'economia mondiale

Author

Listed:
  • Paolo Sylos Labini

    (Università degli Studi di Roma, Facoltà di Scienze Statistiche, Demografiche e Attuariali, Dipartimento di Scienze Economiche, Roma)

Abstract

Analysis here is founded on certain analogies with the Great Depression of the Thirties and four fundamental points: innovations, changes in the market forms, changes in income distribution and the sustainability of debts. The duration of prosperity depends first of all on the importance and variety of investment opportunities opened up by them, whereas crisis duration is conditioned by the size of indebtedness. The central problem in America today is precisely that of the sustainability of debts, to evaluate which criteria are studied in this paper. Full recovery will only be possible once past the stage in which firms and families contract debts primarily to repay other debts falling due and avoid bankruptcy. Proof that debts have fully reacquired the function of supporting growth will be given by the recovery of investments. In any case, the crisis is unlikely to reach the gravity of the Great Depression not only because a price fall is to excluded, but also because repetition of the mistakes in monetary policy are to be ruled out.

Suggested Citation

  • Paolo Sylos Labini, 2003. "Le prospettive dell'economia mondiale," Moneta e Credito, Economia civile, vol. 56(223), pages 267-294.
    • Handle: RePEc:psl:moneta:2003:31
    as

    Download full text from publisher

    File URL: http://ojs.uniroma1.it/index.php/monetaecredito/article/view/9810/9695
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. James K. Galbraith, "undated". "The War Economy," Economics Policy Note Archive 01-8, Levy Economics Institute.
    2. U. Sacchetti, 1999. "Whither the US economy?," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 52(208), pages 69-94.
    3. James K. Galbraith, 2001. "The Meaning of a War Economy," Challenge, Taylor & Francis Journals, vol. 44(6), pages 5-12.
    4. U. Sacchetti, 1999. "Whither the US economy?," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 52(208), pages 69-94.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Carlo D'Ippoliti, 2015. "Editorial: Paolo Sylos Labini (1920-2005)," PSL Quarterly Review, Economia civile, vol. 68(274), pages 179-185.
    2. Gaetano Perone, 2018. "Produttività del lavoro, dinamica salariale e squilibri commerciali nei Paesi dell'Eurozona: un'analisi empirica," Economia & lavoro, Carocci editore, issue 3, pages 61-98.
    3. Passarella, Marco, 2011. "From the village fair to Wall Street. The Italian reception of Minsky’s economic thought," MPRA Paper 49593, University Library of Munich, Germany.
    4. Marcella CORSI & Giulio GUARINI, 2010. "The Influence Of Transformational Leader Upon Organizational Culture," Journal of Applied Economic Sciences, Spiru Haret University, Faculty of Financial Management and Accounting Craiova, vol. 5(1(11)_Spr), pages 30-42.
    5. Mario Tonveronachi, 2015. "Making the ECB the central bank of a non-federal coalition of states," PSL Quarterly Review, Economia civile, vol. 68(273), pages 91-114.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Paolo Sylos Labini, 2009. "Prospects for the world economy," PSL Quarterly Review, Economia civile, vol. 62(248-251), pages 59-86.
    2. Paolo Sylos Labini, 2003. "Prospects for the world economy," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 56(226), pages 179-206.
    3. Paolo Sylos Labini, 2003. "Prospects for the world economy," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 56(226), pages 179-206.
    4. Ugo Sacchetti, 2005. "The US economy: an update," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 58(232), pages 3-20.
    5. Ugo Sacchetti, 2005. "The US economy: an update," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 58(232), pages 3-20.
    6. Wynne Godley, "undated". "Kick-Start Strategy Fails to Fire Sputtering U.S. Economic Motor," Economics Policy Note Archive 02-1, Levy Economics Institute.
    7. Jacques Fontanel & Fanny Coulomb, 2003. "L’estimation improbable du coût du terrorisme," Post-Print hal-02196655, HAL.
    8. Dimitri B. Papadimitriou & L. Randall Wray, "undated". "Are We All Keynesians (Again)?," Economics Policy Note Archive 01-10, Levy Economics Institute.
    9. Jacques Fontanel, 2004. "Le coût du terrorisme," Post-Print hal-02080669, HAL.

    More about this item

    Keywords

    Crisis; Debt; Depression; Distribution; Income Distribution; Income; Indebtedness; Innovation;
    All these keywords.

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

    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:psl:moneta:2003:31. 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.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with 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: Carlo D'Ippoliti (email available below). General contact details of provider: http://www.economiacivile.it .

    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.