Modigliani's 1944 "Econometrica" article is considered one of the most important efforts to reconcile Keynes with classical economic thinking. The aim of this paper is to reconstruct the genesis of Modigliani's article and to reexamine its place in the construction of Neoclassical Synthesis....

This paper draws comparisons between the articles collected in a recent volume edited by Pecchi and Piga dealing with Keynes’s long period considerations set out in the essay Economic possibilities for our grandchildren. Comments concentrate on two of Keynes’s principal forecasts,...

This article reconstructs Franco Modigliani’s and Herbert Simon’s close collaboration over the 1950s on implementation of a decision theory under uncertainty that partly contributed to the genesis of behavioral economics and rational expectations theory. Their collaboration reveals how the...

Paolo Sylos Labini’s Oligopoly Theory and Technical Progress (1957) is considered one of the major contributions to entry-prevention models, especially after Franco Modigliani’s famous formalization. Nonetheless, Modigliani neglected Sylos Labini’s major aim when reviewing his work (1958),...

The paper reconstructs the origin of the large-scale macroeconometric model Modigliani and Ando built for the Fed (1965-1970), and discusses its place within the monetary debate of the 1960s and 1970s, particularly with reference to the Keynesian and Monetarist controversy. The main purpose of...

According to Bhagwati the really fundamental innovation in the oligopoly theory came with the realization that oligopoly must deal with ‘potential' competition as distinct from ‘actual' competition. Paolo Sylos Labini's "Oligopoly Theory and Technical Progress" (1957) is considered one of...

In "Models of my Life" Simon reminds that it was not a coincidence if Carnegie-Mellon has been the incubator of the two antithetical schools of thought: Behavioral Economics and the Rational Expectations theory. The aim of this paper is to reconstruct Franco Modigliani's contribution (as well as...