The aim of this paper is to provide a reconstruction of Achille Loria’s though on economic crisis and income distribution. It will be shown that, in the event of high levels of unemployment, capitalists tend to react by reducing the wages fund via the increase in the consumption of luxury goods. This determines a reduction of the unitary wage, until the minimum socially acceptable is reached, and a drop in employment and production. The re-reading of Loria’s thought presented here is conceived in the light of the similarities between his analysis and the ‘institutionalist’ theoretical framework.
Crisi economiche e distribuzione del reddito nel pensiero di Achille Loria
FORGES DAVANZATI, Guglielmo
2007-01-01
Abstract
The aim of this paper is to provide a reconstruction of Achille Loria’s though on economic crisis and income distribution. It will be shown that, in the event of high levels of unemployment, capitalists tend to react by reducing the wages fund via the increase in the consumption of luxury goods. This determines a reduction of the unitary wage, until the minimum socially acceptable is reached, and a drop in employment and production. The re-reading of Loria’s thought presented here is conceived in the light of the similarities between his analysis and the ‘institutionalist’ theoretical framework.File in questo prodotto:
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