The article, written shortly after the departure of the sterling pound from the Gold Standard in September 1931, gives an extremely critical viewpoint on British monetary and economic policies in the Twenties, substantially agreeing with the views expressed by Keynes during the previous decade....

The article amends the theses supported by Tagliabue and recalls those advanced in the article written, again by Francesco Vito, in 1931 (‘‘The Question of High Wages and a Proposal by J.M. Keynes’’, RISS, pp. 194-203). The author maintains that the English crisis regarded the conditions...

The article discusses Keynes's proposal contained in "The Question of High Wages" (1930) and Pagni's criticism against it. In the article there emerges the author's aversion to Pagni's thesis: wage rises reduce firms' self-financing margins, and, more in general, the savings of entrepreneurs...

The article discusses Schumpeter’s theses about the entrepreneur’s role and his market power. Schumpeter’s theory of profit and business enterprise is positively surveyed. Limits are set to the possibility of bank credit creation and of forced saving to provide entrepreneurs with an...

The article examines the global economic recovery by breaking data down by geographical areas, thus identifying new elements, such as expansionary monetary policies and public works, competitive devaluations, protectionist policies and rearmament policies. In the author’s opinion, prospects...

The definition of capitalism is the focus of a wide-ranging debate raised by W. Sombart. The author indicates his own definition according to which capitalism is a system characterized by ‘‘free choice of activity for economic subjects; private property of the means of production...

This article was written following the Gold Standard suspension by the United States in March 1933. The author discusses the correlation between the sharp decrease drop in the price of goods and the parallel increase in the price of gold, suggesting that the these processes are rooted both in...

The article is about the phenomenon of investment expansion in the U.S. and it is the first part of a wider work the author completed with a second article. Here Pitigliani examines the most recent versions of the classical theory of international trade, focusing on the effects of foreign loans...

The article is based on Johan Akerman’s monograph Some Lessons of the World Depression (Stockholm 1931), and maintains that in order to understand the crisis, it is essential to use the framework of the Austrian school as refined by K. Wicksell. The crisis derives from the lack of an...

The second part of Pitigliani’s essay examines the phenomenon of investment trusts, which guarantee higher returns to small savers and the spreading of saving to the lower classes, a sort of ‘popularization’ of wealth answering the need for a conciliation between capital and labor. Among...