Template-type: ReDIF-Article 1.0 Author-Name: John Edward King Title: Has there Been Progress in Post Keynesian Economics? Abstract: Has there Been Progress in Post Keynesian Economics? (by John Edward King) - ABSTRACT: I begin by assessing the socio-economic dimensions of scientific progress. In most of these areas Post Keynesian economics has gone backwards since the 1970s. I then outline the views on intellectual progress of the philosophers Karl Popper, Thomas Kuhn and Imre Lakatos, and consider the performance of the Post Keynesians according to their criteria. I conclude by speculating on some alternative futures for Post Keynesianism, which include impending death, absorption into the mainstream, incorporation into a broader school of heterodox economics, and the (unlikely) possibility that the Post Keynesians might undertake a successful scientific revolution against neoclassical theory. JEL Classification: B22 Classification-JEL: Keywords: Note: Pages: Volume: 2000/70 Year: 2000 Issue:70 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=14599&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:steste:v:html10.3280/Ste2000-070001 Number: 1 Template-type: ReDIF-Article 1.0 Author-Name: Maurizio Michael Habib Title: Saggio sull'indipendenza della banca centrale Abstract: Saggio sull'indipendenza della banca centrale (di Maurizio Michael Habib) - ABSTRACT: In the recent years the argument for central bank independence gained momentum. Mainstream economic theory shows that the delegation of monetary policy to an independent central bank reduces the inflation bias of macroeconomic policy; empirical evidence is invoked to support this view. In this paper I stress that the theoretical benefit of central bank independence must be corrected for its potential costs: larger output variability, lack of co-ordination among monetary, fiscal and exchange rate policies, a larger democratic deficit. Moreover the empirical evidence supporting the case for central bank independence is not robust and is based on subjective and inaccurate indices of independence. Even if one accepted that the costs-benefits balance is positive and central bank independence is the lesser evil, there are several different "models of independence" and among these models that of the European Central Bank is far from being the best. JEL Classification: E58, E61 Universit? di Roma "La Sapienza", Facolt? di Scienze Politiche, Dipartimento di Teoria Economica e Metodi Quantitativi per le Scelte Politiche (Articolo pervenuto nel marzo 2000) Classification-JEL: Keywords: Note: Pages: Volume: 2000/70 Year: 2000 Issue:70 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=14600&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:steste:v:html10.3280/Ste2000-070002 Number: 2 Template-type: ReDIF-Article 1.0 Author-Name: Mario Leccisotti Title: L'Irap: una valutazione critica Abstract: L'Irap: una valutazione critica (di Mario Leccisotti) - ABSTRACT: IRAP is a tax on the net value added of firms, introduced in Italy with two main objectives, that of substituting the health care payroll taxes, in order to reduce the cost of labour and increase occupation, that of providing the Italian regions with a an authonomous tax. However, at a close inspection, none of these objectives was full filled, since in best case the cost of labour will remain constant or increase by little and since the tax does not accomplish with the principles a regional tax should respect according to the literature. Finally, the tax seems to benefit mainly the large enterprises and those located in the Northern part of Italy, and to increase the administrative compliance costs of firms. JEL Classification: H2, H7, J3 Classification-JEL: Keywords: Note: Pages: Volume: 2000/70 Year: 2000 Issue:70 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=14601&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:steste:v:html10.3280/Ste2000-070003 Number: 3 Template-type: ReDIF-Article 1.0 Author-Name: Alessandro Petretto Author-Name: Alessandro Balestrino Title: Externalities Human Capital, and Education Policy Abstract: Esternalit?, capitale umano e politiche per l?istruzione (di Alessandro Balestrino, Alessandro Petretto) - ABSTRACT: In this paper we discuss the interaction between optimal linear income taxation and education policy. Education is characterised as a mixed investment good: it has both private and public components and affects utility only indirectly via the wage rate. First, we show that, in order to boost the purchase of marketed education - thereby enjoying a larger public good effect and a stronger investment effect - the tax system loses progressivity with respect to the standard case. Second, we derive a sufficient condition for public provision of education, or alternatively, for price subsidisation, to be welfare-improving. We argue that the characterisation of education as an investment good generating positive esternalities does not make obvious that it should be object of a dedicated policy; indeed, it might suggest that the purchase of marketed education is supported by the income tax schedule alone. We also briefly spell out some implications of our analysis for the negative income tax schemes. JEL Classification: H42, I28 Classification-JEL: Keywords: Note: Pages: Volume: 2000/70 Year: 2000 Issue:70 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=14602&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:steste:v:html10.3280/Ste2000-070004 Number: 4 Template-type: ReDIF-Article 1.0 Author-Name: Antonio Scial? Title: External Economies and Diseconomies in a Competitive Situation: una nota Abstract: External Economies And Diseconomies In A Competitive Situation: A Note (di Antonio Scial?) - ABSTRACT: The article written by James E. Meade in 1952 is quoted in most works regarding externalities. The author classifies the externalities in two types: unpaid factors and creation of atmosphere. In this note we will show that unpaid factors and creation of atmosphere can be treated as particular cases of a single model, associated to different elasticity conditions. Moreover we will argue that the distinction is not relevant for the economic analysis. We regard the issue as important because the Meade?s example about the externalities existing between a bee-keeper and an apple-grower amounts to an application of the so called "Coase theorem". Meade was among the first scholars to show that non-pecuniary externalities are interdependencies out of the general equilibrium framework. In our view, this should have pushed towards the analysis of alternative mechanisms of co-ordination between agents and through time, instead of an impossible search of consistency with the general equilibrium framework. JEL Classification: D62, D23 Classification-JEL: Keywords: Note: Pages: Volume: 2000/70 Year: 2000 Issue:70 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=14603&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:steste:v:html10.3280/Ste2000-070005 Number: 5 Template-type: ReDIF-Article 1.0 Author-Name: Salvatore D'Acunto Title: Genesi ed evoluzione della nozione di "domanda effettiva" Abstract: Genesi ed evoluzione della nozione di "domanda effettiva" (di Salvatore D?Acunto) - ABSTRACT: Keynes introduced the notion of effective demand in the 1933 draft of his General Theory to single out the difference between expected sale proceeds and variable production costs as the factor determining output fluctuations. He subsequently moved towards a different definition of 'effective demand' emphasizing the absolute size of expected sale proceeds rather than their excess over variable costs. In our work we argue that this lexical shift reflects Keynes? movement towards a different analytical purpose rather than a substantial change of view on the forces determining the scale of output as a whole. The notion of effective demand adopted in 1933, while perfectly fitted to the purpose Keynes was presumably pursuing at that time, that is to compare the working of "co-operative" and "entrepreneur" economies, was unnecessarily complex for the analysis of the real (capitalistic) economy on which Keynes focussed his attention in the final draft of the General Theory. JEL Classification: B31, E12 Classification-JEL: Keywords: Note: Pages: Volume: 2000/70 Year: 2000 Issue:70 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=14604&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:steste:v:html10.3280/Ste2000-070006 Number: 6 Template-type: ReDIF-Article 1.0 Author-Name: Stefano Figuera Title: Il carattere monetario dell'economia capitalistica alla luce di un recente dibattito Abstract: Il carattere monetario dell'economia capitalistica alla luce di un recente dibattito (di Stefano Figuera) - ABSTRACT: The analysis of the monetary aspect of capitalist system has been treated by Augusto Graziani in Italy and by the theorists of the monetary circuit abroad, particularly in France. Duccio Cavalieri, starting from Graziani?s analysis, reaches a reductive evaluation of the interpretation of this theoretical formulation, expressing some doubts on the realism of this model. The confrontation between these two economists provides us with an occasion to analyse the profiles of monetary theory and their interesting implications. This article argues that the studying of money and banking in the capitalist system is crucial for a better understanding of the relationship between the corporate and the banking sector as well as of the rules governing the monetary financing of production. JEL Classification code: E510, E120 Classification-JEL: Keywords: Note: Pages: Volume: 2000/70 Year: 2000 Issue:70 File-URL:http://www.francoangeli.it/riviste/Scheda_Rivista.aspx?IDArticolo=14605&Tipo=Articolo PDF File-Format: text/HTML Handle: RePEc:fan:steste:v:html10.3280/Ste2000-070007 Number: 7