Economic Theory and Social Justice [Paperback]

There is a powerful and enduring economic tradition which holds that a paramount concern for economists should be the promotion of social justice. This book collects essays by many of the best known contemporary economists, in memory of Fausto Vicarelli, a leading figure in Keynesian economics. The contributors discuss the role of economic theory in tackling poverty and unemployment in both the developed and developing world and in promoting a new international economic order. The outstanding international team of contributors includes Anthony. B. Atkinson, Paul Davidson, Jan Kregel, James Tobin and Hyman P. Mynsky.Preface; G. Gandolfo and F. Marzano List of the Contributors Fausto Vicarelli: A Personal Reminiscence; G.Gandolfo Introduction; F. Marzano Opening Address; A. Fazio PART I: THEORETICAL ANALYSES AND ACTUAL PROBLEMS Supply Constraints on Employment and Output: NAIRU Versus Natural Rate; J. Tobin , Comment; S. Parrinello , Comments; P. Labini On the Relevance of Keynesian Macroeconomics: A Reappraisal; I.Musu , Comment; A. Pedone PART II: PRESENT WORLD IMBALANCES AND THE NEED FOR A NEW INTERNATIONAL ORDER Vicarelli, Keynes's Vision of Capitalism, and Currency Speculation; P. Davidson , Comment; G. Gandolfo Unemployment and Social Needs; G. Lunghini, Comment; C. Gnesutta PART III: CAPITAL ACCUMULATION: REAL AND FINANCIAL ASPECTS Instability, Volatility and the Process of Capital Accumulation; J. Kregel , Comment; A, Graziani , Comment; G. Rey The Relevance of Keynes's Thought on Financial Markets; G. Nardozzi, Comment; M. De Cecco PART IV: SOCIAL CHOICES, ECONOMIC POLICY AND MORAL VALUES Setting and Monitoring Poverty Standards: Drawing on the Parallel with Macroeconomics; A. Atkinson , Comment; L. Frey Social Paradoxes of Growth and Civil Economy; S. Zamagni , Com ment; N. Acocella , Comment; A. Roncaglia , Comment; R. Pizzuti PART V: TESTIMONIALS A 'Letter to the Conference'; H. Minsky Miscellanea; A. Tripoli, F. Bentivogli, N. Genovese Closing Remarks; F.ls!