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Pareto’s legacy in the Italian tradition: the case of mathematical economics

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  • Mario Pomini

    (Università Di Padova)

Abstract

Pareto’s personality had a great influence on the evolution of economic theory in the last century at least in the Italian context. At the beginning of the twentieth century a small but combative circle of followers aimed to defend and spread the new Paretian approach based on the idea of general economic equilibrium. Paretian scholars were well recognizable in the Italian context for their contributions to mathematical and statistical aspects. The purpose of this contribution is to outline the essential features of the Italian Paretian school in the field of pure economics or as we would say today of mathematical economics. This favorable position of the Italian tradition in the field of mathematical economics was basically due to two circumstances. The first was represented by the legacy of Pareto and his school while the second was to be found in the fact that among the students of Pareto there was a pure mathematician of great value Luigi Amoroso. We see then that an important voice even if poorly valued was that of Bruno de Finetti who published a remarkable series of articles on mathematical economics in the second half of the 1930s. After World War II the Paretian tradition in this field weakened considerably and effectively disappeared internationally.

Suggested Citation

  • Mario Pomini, 2024. "Pareto’s legacy in the Italian tradition: the case of mathematical economics," International Review of Economics, Springer;Happiness Economics and Interpersonal Relations (HEIRS), vol. 71(3), pages 477-489, September.
    • Handle: RePEc:spr:inrvec:v:71:y:2024:i:3:d:10.1007_s12232-024-00460-z
    DOI: 10.1007/s12232-024-00460-z
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    References listed on IDEAS

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    1. Pomini, Mario, 2018. "Economic Dynamics And The Calculus Of Variations In The Interwar Period," Journal of the History of Economic Thought, Cambridge University Press, vol. 40(1), pages 57-79, March.
    2. Michael McLure, 2007. "The Paretian School and Italian Fiscal Sociology," Palgrave Macmillan Books, Palgrave Macmillan, number 978-0-230-59626-9, March.
    3. Gianfranco Tusset, 2009. "The Italian contribution to early economic dynamics," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 16(2), pages 267-300.
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    More about this item

    Keywords

    History of mathematical economics in Italy; Paretian school; Luigi Amoroso; Bruno de Finetti;
    All these keywords.

    JEL classification:

    • B16 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Quantitative and Mathematical
    • B23 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Econometrics; Quantitative and Mathematical Studies
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals

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