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Crisis and Revolution in Economic Theory and Policy: A Debate

Author

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  • Olivier Blanchard
  • Emiliano Brancaccio

Abstract

The following is the transcript of a debate, entitled ‘Pensare un’alternativa’ (Thinking of an Alternative), between Olivier Blanchard, former Chief Economist of the International Monetary Fund and a leading exponent of mainstream macroeconomics, and Emiliano Brancaccio, author of the book Anti-Blanchard and advocate of ‘The Economists’ Warning’ against European deflationary policies. The debate examines, from two different theoretical perspectives, the global great recession, the Eurozone crisis, the effects of austerity and deflation, increased social inequality, and political conflict. It took place at the Giangiacomo Feltrinelli Foundation in Milan, Italy, on 19 December 2018, and was moderated by the journalist Pietro Raitano.

Suggested Citation

  • Olivier Blanchard & Emiliano Brancaccio, 2019. "Crisis and Revolution in Economic Theory and Policy: A Debate," Review of Political Economy, Taylor & Francis Journals, vol. 31(2), pages 271-287, April.
    • Handle: RePEc:taf:revpoe:v:31:y:2019:i:2:p:271-287
    DOI: 10.1080/09538259.2019.1644730
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    Citations

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    Cited by:

    1. Emiliano Brancaccio & Fabiana De Cristofaro & Raffaele Giammetti, 2020. "No Consensus In The Imf-Oecd 'Consensus': A Meta-Analysis On The Employment Impact Of Labour Deregulations," Working Papers 445, Universita' Politecnica delle Marche (I), Dipartimento di Scienze Economiche e Sociali.
    2. Lwazi Senzo Ntshangase & Thando Ngozo, 2024. "Quantifying Fiscal Multipliers in South Africa: A Structural Var Approach," Journal of Economics and Behavioral Studies, AMH International, vol. 16(2), pages 45-55.
    3. Annalisa Rosselli, 2019. "Commento al dibattito Blanchard-Brancaccio (Comment on the Blanchard-Brancaccio debate)," Moneta e Credito, Economia civile, vol. 72(287), pages 259-265.
    4. Emre Örün, 2020. "Theoritical Seekings in Macroeconomics," Istanbul Journal of Economics-Istanbul Iktisat Dergisi, Istanbul University, Faculty of Economics, vol. 70(2), pages 451-477, December.
    5. Brancaccio, Emiliano & Califano, Andrea & Lopreite, Milena & Moneta, Alessio, 2020. "Nonperforming loans and competing rules of monetary policy: A statistical identification approach," Structural Change and Economic Dynamics, Elsevier, vol. 53(C), pages 127-136.
    6. Emiliano Brancaccio, 2022. "A discussion with Vernon Smith on the Classics, Marx, and Sraffa," PSL Quarterly Review, Economia civile, vol. 75(303), pages 425-431.
    7. Emiliano Brancaccio & Raffaele Giammetti & Milena Lopreite & Michelangelo Puliga, 2023. "Convergence in solvency and capital centralization: A B‐VAR analysis for high‐income and euro area countries," Metroeconomica, Wiley Blackwell, vol. 74(1), pages 40-73, February.
    8. Massimo Amato & Everardo Belloni & Paolo Falbo & Lucio Gobbi, 2021. "Europe, public debts, and safe assets: the scope for a European Debt Agency," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 38(3), pages 823-861, October.
    9. Alessia Amighini & Francesco Giavazzi, 2019. "Alcune considerazioni su debito e disuguaglianza (Some notes on debt and inequality)," Moneta e Credito, Economia civile, vol. 72(287), pages 219-228.
    10. Emiliano Brancaccio & Fabiana De Cristofaro, 2020. "Inside the IMF Òmea culpaÓ: A panel analysis on growth forecast errors and Keynesian multipliers in Europe," PSL Quarterly Review, Economia civile, vol. 73(294), pages 225-239.
    11. Roberto Ciccone & Antonella Stirati, 2019. "Blanchard e Summers: rivoluzione o conservazione? (Blanchard and Summers: revolution or conservation?)," Moneta e Credito, Economia civile, vol. 72(287), pages 207-218.
    12. Olivier Blanchard & Lawrence H. Summers, 2019. "Ripensare le politiche macroeconomiche: evoluzione o rivoluzione? (Evolution or Revolution? Rethinking Macroeconomic Policy after the Great Recession)," Moneta e Credito, Economia civile, vol. 72(287), pages 171-195.
    13. Emiliano Brancaccio, 2019. "Sulle condizioni per una rivoluzione della teoria e della politica economica (On the conditions for a revolution of economic theory and policy)," Moneta e Credito, Economia civile, vol. 72(287), pages 197-206.
    14. Mauro Gallegati, 2019. "Introduzione (Introduction)," Moneta e Credito, Economia civile, vol. 72(287), pages 163-170.
    15. Emiliano Brancaccio, 2023. "Centralizzazione del capitale, guerra e pace (Centralization of capital, war and peace)," Moneta e Credito, Economia civile, vol. 76(304), pages 339-356.
    16. Emiliano Brancaccio & Mauro Gallegati & Raffaele Giammetti, 2022. "Neoclassical influences in agent‐based literature: A systematic review," Journal of Economic Surveys, Wiley Blackwell, vol. 36(2), pages 350-385, April.

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