Some have argued that a significant decrease in the demand for money, due to financial innovations, could imply that central banks are unable to implement effective monetary policies. This paper argues that central banks are always able to influence the economy’s interest rates, because their...

This paper provides an analysis of Keynes’s original Bancorʺ proposal as well as more recent proposals for fixed exchange rates. We argue that these schemes fail to pay due attention to the importance of capital movements in today’s economy, and that they implicitly adopt an unsatisfactory...

This paper studies the effects of an (exogenous) increase of nominal wages on profits, output, and growth. Inspired by an article by Michał Kalecki (1991), who concentrated on the effects on total profits, the paper develops a model that explicitly considers the dynamics of demand, prices,...

This paper contributes to the debate on income growth and distribution from a nonmainstream perspective. It looks, in particular, at the role that the degree of capacity utilization plays in the process of growth of an economy that is not perfectly competitive. The distinctive feature of the...

Full substitutability and equal weighting principles of the human development index (HDI) have been found to be ineffective in determining appropriate HDI values and should therefore be dropped. An index can be devised with equal distribution of values of the component variables to correct HDI...

Full substitutability and equal weighting principles of the human development index (HDI) have been found to be ineffective in determining appropriate HDI values and should therefore be dropped. An index can be devised with equal distribution of values of the component variables to correct HDI...

Italian Abstract: L'articolo introduce il numero speciale sui contributi di Paolo Sylos Labini pubblicati su "Astrolabio", la rivista italiana fondata e curata da Ferruccio Parri nel 1963. L'editore, guest editor del numero corrente, spiega la logica della sua selezione di articoli e discute il...

As a possible improvement to the United Nations' Human Development Index (HDI), we propose including in the set of individual variables some of an environmental or social nature. Thus, by rescaling all the variables non-linearly it is possible to mitigate the effect of outliers and synthesize by...

As a possible improvement to the United Nations' Human Development Index (HDI), we propose including in the set of individual variables some of an environmental or social nature. Thus, by rescaling all the variables non-linearly it is possible to mitigate the effect of outliers and synthesize by...