- Docente: Giancarlo Gozzi
- Credits: 5
- SSD: SECS-P/01
- Language: Italian
- Teaching Mode: In-person learning (entirely or partially)
- Campus: Bologna
- Corso: Second cycle degree programme (LM) in Economics and Economic Policy (cod. 8420)
Learning outcomes
It is the aim of the course to set out the fundamental aspects of the “surplus approach” to the theory of value and distribution for a capitalist economy that characterizes the classical and marxian theoretical framework in its modern formulation according to the contributions of Sraffa and von Neumann. Attention will also be paid to the relationship between theories of value and distribution and theories of accumulation.
Course contents
1) Production, value and accumulation: theoretical framework and methodological aspects of the surplus approach.
2) Net product, prices and distribution: the analytical core of the theory of value and distribution.
a) Prices, distribution and long-period positions of the economy.
b) Prices, distribution and the dynamics of capitalistic competition.
c) The labour theory of value.
i) The role of the labour theory of value in the classical theoretical scheme.
ii) The labour theory of value in Marx.
iii) The labour theory of value after Sraffa.
3) Net product, distribution and growth: alternative approaches.
a) Distribution, growth and long period positions of the economy.
i) The ricardian model of distribution and growth.
ii) The marxian model of growth and distribution: the schemes of reproduction.
b) Effective demand, distribution and growth.
i) The post-keynesian model of growth and distribution.
ii) The kaleckian model of growth and distribution.
c) Growth, distribution and structural change: the contribution of Pasinetti.
Readings/Bibliography
G. Gozzi, Sovrappiù, valore e accumulazione, (in preparation)
M. Lavoie, the kaleckian model of growth and distribution and its neo-ricardian and neo-marxian critiques, Cambridge Journal of Economics 1995 (par. 1-3)
S. Marglin, Growth, distribution and inflation, Cambridge Journal of Economics 1984 (part one)
Additional material will be made available on the web page of the course.
Teaching methods
Front lectures
Assessment methods
Oral examination
Office hours
See the website of Giancarlo Gozzi