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Modigliani's comments on Sylos Labini's theory of unemployment (1956-1958)

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  • Antonella Rancan

    (Universita' degli Studi del Molise)

Abstract

This note discusses Modigliani's and Sylos Labini's unemployment theory starting from a long letter Modigliani wrote to his friend and colleague, commenting the provisional edition of "Oligopolio e Progresso Tecnico" (1956). While in his influential article review (1958) Modigliani especially analysed and developed along original lines Sylos Labini's microeconomic theory, in the letter he deeply discussed Sylos Labini macroeconomics. Modigliani criticized Sylos Labini's classical definition of investment and the ensuing confusion between monetary and real causes of unemployment. From their correspondence their different theoretical perspective clearly stands out: Modigliani was interested in explaining the emergence of unemployment equilibrium in a static context, Sylos Labini its persistence as the result of structural changes.

Suggested Citation

  • Antonella Rancan, 2014. "Modigliani's comments on Sylos Labini's theory of unemployment (1956-1958)," PSL Quarterly Review, Economia civile, vol. 67(270), pages 269-282.
    • Handle: RePEc:psl:pslqrr:2014:32
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    File URL: http://ojs.uniroma1.it/index.php/PSLQuarterlyReview/article/view/12919/12723
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    References listed on IDEAS

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    Cited by:

    1. Carlo D'Ippoliti, 2020. "Editorial: books and debates in economics," PSL Quarterly Review, Economia civile, vol. 73(295), pages 279-282.

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    More about this item

    Keywords

    Franco Modigliani; Paolo Sylos Labini; Unemployment;
    All these keywords.

    JEL classification:

    • B10 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - General
    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • B30 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - General

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