History of Economic Thought
Instructor: Piero Bini
The course of History of Economic Thought is made up of two parts. The first part provides an overview of the main currents of international economic theories and concepts from the mid-Eighteenth century to the end of Twentieth century. This part will briefly summarize the classical school of political economy, Marx’s economic thought, Neoclassical scientific revolution, Keynesian economics. This set of lectures will be of service as an introduction to the second and most characterizing part which concerns a specific topic of contemporaneous history of economic thought, i.e. the Italian one, from the Unification of Italy in 1861 to the present time. Particular attention will be deserve both to some leading Italian economists (such as Maffeo Pantaleoni, Vilfredo Pareto, Luigi Einaudi up to Piero Sraffa, Franco Modigliani and many others), and to some economic topics selected with the mind oriented, on the one hand, to the Italian economic policy and political history, and, on the other hand, to the most scientific progresses in economics at the international level. I'm referring to a) The take-off of Italian economy at the end of the nineteenth century and first theories of economic cycle; b) The raising of public enterprise and welfare economics in Italy from 1900 to the 1920s; c) The Corporative and fascist economics, and the making of economic policy in Italy during the interwar years (1922-1940); d) The major changes in Italian economic policy after the world war II (1950-1969); e) The Italian economists in the crisis of the Nineteen-seventies and the parable of the "Conflict Paradigm" (1969-1985); f) How to escape from the global and Euro crisis according to the opinions of the Italian economists in the period 2008-2015.
A particular attention will be given to the relationship between the evolution of economic theories and the public policies recommended by the most representative Italian economists in the historical phases mentioned before.